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REGISTERED NUMBER: 06835977 (England and Wales)












OSMOND SOLICITORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






OSMOND SOLICITORS LIMITED (REGISTERED NUMBER: 06835977)






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


OSMOND SOLICITORS LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2024







DIRECTORS: Mr P C Flaherty
Ms C E Juggins





REGISTERED OFFICE: 230 Temple Chambers
3-7 Temple Avenue
London
EC4Y 0HP





REGISTERED NUMBER: 06835977 (England and Wales)





ACCOUNTANTS: ATM Accountants Ltd
Chartered Management Accountants
Second Floor, Block F
Southgate Office Village
288 Chase Road
London
N14 6HF

OSMOND SOLICITORS LIMITED (REGISTERED NUMBER: 06835977)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 42,000 84,000
Tangible assets 5 5,421 4,641
47,421 88,641

CURRENT ASSETS
Debtors 6 541,621 591,578

CREDITORS
Amounts falling due within one year 7 512,169 651,071
NET CURRENT ASSETS/(LIABILITIES) 29,452 (59,493 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,873

29,148

CREDITORS
Amounts falling due after more than one
year

8

15,124

25,420
NET ASSETS 61,749 3,728

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Capital redemption reserve 200 200
Retained earnings 60,549 2,528
SHAREHOLDERS' FUNDS 61,749 3,728

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.

OSMOND SOLICITORS LIMITED (REGISTERED NUMBER: 06835977)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 December 2024 and were signed on its behalf by:





Mr P C Flaherty - Director


OSMOND SOLICITORS LIMITED (REGISTERED NUMBER: 06835977)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Osmond Solicitors 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. 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.

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, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten 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.
Furniture & equipment - 25% on reducing balance

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 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.

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.

OSMOND SOLICITORS LIMITED (REGISTERED NUMBER: 06835977)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 600,000
AMORTISATION
At 1 April 2023 516,000
Amortisation for year 42,000
At 31 March 2024 558,000
NET BOOK VALUE
At 31 March 2024 42,000
At 31 March 2023 84,000

5. TANGIBLE FIXED ASSETS
Furniture
& equipment
£   
COST
At 1 April 2023 33,752
Additions 2,587
At 31 March 2024 36,339
DEPRECIATION
At 1 April 2023 29,111
Charge for year 1,807
At 31 March 2024 30,918
NET BOOK VALUE
At 31 March 2024 5,421
At 31 March 2023 4,641

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 501,885 560,297
Amounts due not yet invoiced 36,000 27,500
Other debtors 3,736 3,781
541,621 591,578

OSMOND SOLICITORS LIMITED (REGISTERED NUMBER: 06835977)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 17,574 37,161
Taxation and social security 81,719 185,076
Other creditors 412,876 428,834
512,169 651,071

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 15,124 25,420

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 2,926 182
Bank loans 29,772 62,399
32,698 62,581

The company bank borrowings are secured by way of fixed & floating charges over company assets and personal guarantee given by Mr W.J.G.Osmond.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
900 Ordinary A 1 900 900
100 Ordinary B 1 100 100
1,000 1,000

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr W J G Osmond
Balance outstanding at start of year (363,335 ) (327,518 )
Amounts advanced 363,335 21,900
Amounts repaid - (57,717 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (363,335 )

OSMOND SOLICITORS LIMITED (REGISTERED NUMBER: 06835977)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P C Flaherty.

The ultimate controlling party is Mr P C Flaherty.