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COMPANY REGISTRATION NUMBER: 05761595
Adam Legal Services Solicitors Limited
Filleted Unaudited Abridged Financial Statements
30 June 2024
Adam Legal Services Solicitors Limited
Abridged Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Current assets
Debtors
23,426
38,530
Cash at bank and in hand
149,942
140,768
---------
---------
173,368
179,298
Creditors: amounts falling due within one year
29,123
60,660
---------
---------
Net current assets
144,245
118,638
---------
---------
Total assets less current liabilities
144,245
118,638
---------
---------
Net assets
144,245
118,638
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
144,145
118,538
---------
---------
Shareholders funds
144,245
118,638
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Adam Legal Services Solicitors Limited
Abridged Statement of Financial Position (continued)
30 June 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 8 January 2025 , and are signed on behalf of the board by:
Mr Mustafa Salah Adam
Director
Company registration number: 05761595
Adam Legal Services Solicitors Limited
Notes to the Abridged Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 115B Churchfield Road, London, W3 6AH.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: Nil).
5. Directors' advances, credits and guarantees
At the year end the company owed the director Mr Mustafa Salah Adam £583 (2023: £31,584) in interest free loans.
6. Related party transactions
During the year, the company paid the director Mr Mustafa Salah Adam £46,500 (2023: £2,000) in dividends.