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REGISTERED NUMBER: 06374380 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Spearpoint Franks Solicitors Ltd

Spearpoint Franks Solicitors Ltd (Registered number: 06374380)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Spearpoint Franks Solicitors Ltd (Registered number: 06374380)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible fixed assets 5 27,733 35,378
27,733 35,378

Current assets
Debtors 6 361,909 361,412
Cash at bank and in hand 325,228 179,757
687,137 541,169
Creditors: amounts falling due within
one year

7

131,474

107,356
Net current assets 555,663 433,813
Total assets less current liabilities 583,396 469,191

Creditors: amounts falling due after
more than one year

8

30,265

40,272
Net assets 553,131 428,919

Capital and reserves
Called up share capital 9 500 500
Capital redemption reserve 500 500
Retained earnings 552,131 427,919
Shareholders' funds 553,131 428,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Spearpoint Franks Solicitors Ltd (Registered number: 06374380)

Balance Sheet - continued
30 September 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 January 2025 and were signed by:





M Franks - Director


Spearpoint Franks Solicitors Ltd (Registered number: 06374380)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. Statutory information

Spearpoint Franks Solicitors Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06374380

Registered office: 97 Church Street
Brighton
East Sussex
BN1 1UJ

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

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 and represents amounts receivable for services rendered, stated net of VAT and discounts. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Fixtures and fittings - 25% straight line
Computer equipment - 25% straight line
Motor vehicles - 20% reducing balance

Spearpoint Franks Solicitors Ltd (Registered number: 06374380)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. Accounting policies - continued

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating lease 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.

3. Employees and directors

The average number of employees during the year was 7 (2023 - 6 ) .

Spearpoint Franks Solicitors Ltd (Registered number: 06374380)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 October 2023
and 30 September 2024 25,403
Amortisation
At 1 October 2023
and 30 September 2024 25,403
Net book value
At 30 September 2024 -
At 30 September 2023 -

5. Tangible fixed assets
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 October 2023 6,598 40,980 11,064 58,642
Additions - - 571 571
At 30 September 2024 6,598 40,980 11,635 59,213
Depreciation
At 1 October 2023 5,865 9,835 7,564 23,264
Charge for year 315 6,229 1,672 8,216
At 30 September 2024 6,180 16,064 9,236 31,480
Net book value
At 30 September 2024 418 24,916 2,399 27,733
At 30 September 2023 733 31,145 3,500 35,378

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 78,324 34,014
Other debtors 283,585 327,398
361,909 361,412

Spearpoint Franks Solicitors Ltd (Registered number: 06374380)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Finance leases 5,011 4,675
Trade creditors 1,570 3,128
Taxation and social security 114,050 80,406
Other creditors 5,843 14,147
131,474 107,356

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 5,833 10,829
Finance leases 24,432 29,443
30,265 40,272

Creditors falling due includes liabilities of £29,443 (2023: £34,118) which are secured by the assets to which they relate.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
500 Ordinary A £1 500 500

10. Off-balance sheet arrangements

At the year end, the company has operating lease commitments amounting to £3,769 (2023: £11,363).

11. Director's advances, credits and guarantees

During the year, the company advanced the directors £43,729 (2023: £58.992) and they repaid £22,543 (2023: £65,372). At the year end, the directors owed the company £26,445 (2023: £5,258). The advances were interest-free, unsecured and repayable on demand.