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Registered number: 11319290
Patrick West Legal Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
TaxAssist Accountants
Chartered Accountants
714 London Road
Larkfield
KENT
ME20 6BL
Unaudited Financial Statements
Contents
Page
Accountants' Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—5
Page 1
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Patrick West Legal Ltd For The Year Ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Patrick West Legal Ltd For The Year Ended 30 April 2024 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Patrick West Legal Ltd , as a body, in accordance with the terms of our engagement letter dated 06 April 2018. Our work has been undertaken solely to prepare for your approval the accounts of Patrick West Legal Ltd and state those matters that we have agreed to state to the director of Patrick West Legal Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Patrick West Legal Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Patrick West Legal Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Patrick West Legal Ltd . You consider that Patrick West Legal Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Patrick West Legal Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
TaxAssist Accountants
30/12/2024
TaxAssist Accountants
Chartered Accountants
714 London Road
Larkfield
KENT
ME20 6BL
Page 1
Page 2
Statement of Financial Position
Registered number: 11319290
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 29,954 28,508
Cash at bank and in hand 25 22
29,979 28,530
Creditors: Amounts Falling Due Within One Year 5 (3,719 ) (3,717 )
NET CURRENT ASSETS (LIABILITIES) 26,260 24,813
TOTAL ASSETS LESS CURRENT LIABILITIES 26,260 24,813
Creditors: Amounts Falling Due After More Than One Year 6 (38,822 ) (39,762 )
NET LIABILITIES (12,562 ) (14,949 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Income Statement (12,563 ) (14,950 )
SHAREHOLDERS' FUNDS (12,562) (14,949)
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Patrick Baligeya
Director
30/12/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Patrick West Legal Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11319290 . The registered office is 714 London Road, Larkfield, Aylesford, Kent, ME20 6BL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The company meets it day to day working capital requirements through the support of the director and they have pledged their continuing support. The Director therefore considers it appropriate to prepare accounts on the going concern basis with the intention to make the profits in the coming years.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Debtors
2024 2023
£ £
Due within one year
Corporation tax recoverable assets 10,305 9,940
Director's loan account 19,649 18,568
29,954 28,508
Page 4
Page 5
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 386 -
Corporation tax 2,277 2,739
Accruals and deferred income 1,056 978
3,719 3,717
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 38,822 39,762
38,822 39,762
The Company has a Bounce Back loan with a term of 5 years at an interst rate at 2.5%
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr Patrick Baligeya 18,567 1,081 - - 19,648
The above loan is unsecured, interest is charged at HMRC rates and repayable on demand.
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