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REGISTERED NUMBER: 14130634 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

ROSS WILLIAMS SOLICITORS LTD

ROSS WILLIAMS SOLICITORS LTD (REGISTERED NUMBER: 14130634)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROSS WILLIAMS SOLICITORS LTD

Company Information
for the year ended 31 March 2024







Directors: Mrs S L Dunn
Mr N S Donald
Mrs E C Halpin





Registered office: Victoria House
26 Tilehouse Street
Hitchin
Hertfordshire
SG5 2DY





Registered number: 14130634 (England and Wales)





Accountants: Duncan & Toplis Limited
3rd Floor
Marlborough House, 298 Regents Park Road
Finchley
London
N3 2SZ

ROSS WILLIAMS SOLICITORS LTD (REGISTERED NUMBER: 14130634)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 865,053 966,160
Tangible assets 5 61,111 1,968
926,164 968,128

Current assets
Debtors 6 321,812 210,280
Cash at bank and in hand 248,365 308,905
570,177 519,185
Creditors
Amounts falling due within one year 7 1,131,380 1,287,680
Net current liabilities (561,203 ) (768,495 )
Total assets less current liabilities 364,961 199,633

Provisions for liabilities 14,991 -
Net assets 349,970 199,633

Capital and reserves
Called up share capital 9 120 120
Retained earnings 349,850 199,513
349,970 199,633

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.

ROSS WILLIAMS SOLICITORS LTD (REGISTERED NUMBER: 14130634)

Balance Sheet - 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:





Mr N S Donald - Director


ROSS WILLIAMS SOLICITORS LTD (REGISTERED NUMBER: 14130634)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Ross Williams Solicitors Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

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

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

ROSS WILLIAMS SOLICITORS LTD (REGISTERED NUMBER: 14130634)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. Employees and directors

The average number of employees during the year was 10 (2023 - 10 ) .

ROSS WILLIAMS SOLICITORS LTD (REGISTERED NUMBER: 14130634)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023
and 31 March 2024 1,011,074
Amortisation
At 1 April 2023 44,914
Amortisation for year 101,107
At 31 March 2024 146,021
Net book value
At 31 March 2024 865,053
At 31 March 2023 966,160

5. Tangible fixed assets
Motor Computer
vehicles equipment Totals
£ £ £
Cost
At 1 April 2023 - 2,215 2,215
Additions 62,628 3,880 66,508
At 31 March 2024 62,628 6,095 68,723
Depreciation
At 1 April 2023 - 247 247
Charge for year 6,524 841 7,365
At 31 March 2024 6,524 1,088 7,612
Net book value
At 31 March 2024 56,104 5,007 61,111
At 31 March 2023 - 1,968 1,968

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 241,488 137,875
Other debtors 80,324 72,405
321,812 210,280

7. Creditors: amounts falling due within one year
2024 2023
£ £
Taxation and social security 193,742 142,707
Other creditors 937,638 1,144,973
1,131,380 1,287,680

ROSS WILLIAMS SOLICITORS LTD (REGISTERED NUMBER: 14130634)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 38,250 35,500
Between one and five years 178,500 177,500
In more than five years - 23,667
216,750 236,667

9. Called up share capital

Allotted issue and fully paid:
Number: Class: Nominal value: £
34 Ordinary A £1 34
34 Ordinary B £1 34
34 Ordinary C £1 34
6 Ordinary D £1 6
6 Ordinary E £1 6
6 Ordinary F £1 6
120

The directors may pay and interim dividend on all classes of shares to the exclusions of the other classes and may pay interim dividends at different rates on the respective classes of shares.