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REGISTERED NUMBER: 08853617 (England and Wales)















Kevin Shearn Family Law Practice Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Kevin Shearn Family Law Practice Limited (Registered number: 08853617)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Kevin Shearn Family Law Practice Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs D E Bateman
Mrs M Justice





REGISTERED OFFICE: The Post House
Church Square
Taunton
Somerset
TA1 1SA





REGISTERED NUMBER: 08853617 (England and Wales)





ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF

Kevin Shearn Family Law Practice Limited (Registered number: 08853617)

Abridged Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 5,101 7,052
5,101 7,052

CURRENT ASSETS
Debtors 283,262 240,358
Cash at bank and in hand 117,237 153,632
400,499 393,990
CREDITORS
Amounts falling due within one year 132,612 141,403
NET CURRENT ASSETS 267,887 252,587
TOTAL ASSETS LESS CURRENT
LIABILITIES

272,988

259,639

PROVISIONS FOR LIABILITIES 1,275 1,340
NET ASSETS 271,713 258,299

CAPITAL AND RESERVES
Called up share capital 12 12
Retained earnings 271,701 258,287
SHAREHOLDERS' FUNDS 271,713 258,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Kevin Shearn Family Law Practice Limited (Registered number: 08853617)

Abridged Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:




Mrs D E Bateman - Director



Mrs M Justice - Director


Kevin Shearn Family Law Practice Limited (Registered number: 08853617)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Kevin Shearn Family Law Practice Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Turnover is measured at the fair value of the consideration received, excluding discounts, rebates, value added tax and other duty.:Turnover from legal and professional work is recognised by reference to the stage of completion.

Goodwill
Goodwill was the amount paid in connection with the acquisition of the business in 2014, It was amortised evenly over its useful life of five years and is now fully depreciated.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance and Straight line over 3 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Kevin Shearn Family Law Practice Limited (Registered number: 08853617)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Revenue recognition
Services provided to clients during the period which, at the balance sheet date, have not been invoiced to clients have been recognised in turnover.

Turnover recognised is based on an assessment of the fair value of the services provided by the balance sheet date as a proportion of the total value of the engagement. Revenue is not recognised on those engagements where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included within debtors.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 50,000
AMORTISATION
At 1 April 2023
and 31 March 2024 50,000
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

Kevin Shearn Family Law Practice Limited (Registered number: 08853617)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 57,177
Additions 912
At 31 March 2024 58,089
DEPRECIATION
At 1 April 2023 50,125
Charge for year 2,863
At 31 March 2024 52,988
NET BOOK VALUE
At 31 March 2024 5,101
At 31 March 2023 7,052