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REGISTERED NUMBER: 02548983















Unaudited Financial Statements for the Year Ended 31 March 2024

for

LEGAL AND FINANCIAL SERVICES LIMITED

LEGAL AND FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02548983)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LEGAL AND FINANCIAL SERVICES LIMITED

Company Information
for the year ended 31 March 2024







DIRECTORS: J R Hall
Mrs J Hall





SECRETARY: Company Secretaries Limited





REGISTERED OFFICE: c/o Thorne Lancaster Parker
4th Floor, Venture House
27/29 Glasshouse Street
London
W1B 5DF





REGISTERED NUMBER: 02548983





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

LEGAL AND FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02548983)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 1,376 1,376
Investments 6 730,419 730,419
731,795 731,795

CURRENT ASSETS
Debtors 7 55,710 55,711
Cash at bank 10,738 10,738
66,448 66,449
CREDITORS
Amounts falling due within one year 8 (37,801 ) (37,802 )
NET CURRENT ASSETS 28,647 28,647
TOTAL ASSETS LESS CURRENT
LIABILITIES

760,442

760,442

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings 10 760,432 760,432
SHAREHOLDERS' FUNDS 760,442 760,442

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.

LEGAL AND FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02548983)

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.

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 31 December 2024 and were signed on its behalf by:





J R Hall - Director


LEGAL AND FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02548983)

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


1. STATUTORY INFORMATION

Legal And Financial Services Limited is a private company, limited by shares , registered in Not specified/Other. 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. 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
Revenue is the total amount receivable, excluding value added tax, for services provided in the ordinary course of business.

Revenue is recognised at the fair value of the consideration received or receivable for sale of services to external customers in the ordinary nature of the business. The fair value of the consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue is shown net of Value Added Tax.

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 - 20% on cost

Unquoted investments
Investment in unquoted companies is held at cost less accumulated impairment losses.

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.


LEGAL AND FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02548983)

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


3. ACCOUNTING POLICIES - continued
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.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Financial instruments
The company has the following basic financial instruments.

Basic financial assets

Trade and other debtors, loans, cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities

Other creditors, directors' current accounts and accruals are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

LEGAL AND FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02548983)

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


5. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 4,859
DEPRECIATION
At 1 April 2023
and 31 March 2024 3,483
NET BOOK VALUE
At 31 March 2024 1,376
At 31 March 2023 1,376

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 April 2023
and 31 March 2024 730,419
NET BOOK VALUE
At 31 March 2024 730,419
At 31 March 2023 730,419

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 18,050 18,050
Directors' loan accounts 37,660 37,661
55,710 55,711

The Director's prior year loan account balance was cleared via a dividend payment within 9 months the year.

The Director's current account balance was cleared within 9 months of the year end.

LEGAL AND FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02548983)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,000 3,000
Trade creditors (1 ) -
Corporation tax 12,733 12,733
Social security and other taxes 1,356 1,356
Other creditors 19,147 19,147
Accruals and deferred income 1,566 1,566
37,801 37,802

Latymer Management Limited
A company under common control

In 2022 Latymer Management Limited lent the company £15,000. At 31 March 2024, the amount outstanding in respect of the above is £15,000 (2023: £15,000). The loan is an interest free loan and repayable on demand.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary 1 10 10

10. RESERVES
Retained
earnings
£   

At 1 April 2023 760,432
Profit for the year -
At 31 March 2024 760,432

11. ULTIMATE CONTROLLING PARTY

The controlling party is J R Hall.