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Registered number: 10710817
Universe Solicitors Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Augustus & Co
Chartered Certified Accountants
374 Ley Street
Ilford
Essex
IG1 4AE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10710817
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 50,112 15,133
50,112 15,133
CURRENT ASSETS
Debtors 5 248,062 195,581
Cash at bank and in hand 44,534 21,787
292,596 217,368
Creditors: Amounts Falling Due Within One Year 6 (206,197 ) (96,933 )
NET CURRENT ASSETS (LIABILITIES) 86,399 120,435
TOTAL ASSETS LESS CURRENT LIABILITIES 136,511 135,568
Creditors: Amounts Falling Due After More Than One Year 7 (55,386 ) (33,548 )
NET ASSETS 81,125 102,020
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 80,125 101,020
SHAREHOLDERS' FUNDS 81,125 102,020
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Page 2
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 Profit and Loss Account.
On behalf of the board
Mr Emmanuel Oluwafemi Sodola
Director
6 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Universe Solicitors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10710817 . The registered office is 83 Blackheath Road, Greenwich, London, SE10 8PD.
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. 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% straight line
Fixtures & Fittings 20% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 3 4
3 4
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 May 2023 - 33,095 33,095
Additions 48,850 3,148 51,998
As at 30 April 2024 48,850 36,243 85,093
Depreciation
As at 1 May 2023 - 17,962 17,962
Provided during the period 9,770 7,249 17,019
As at 30 April 2024 9,770 25,211 34,981
Net Book Value
As at 30 April 2024 39,080 11,032 50,112
As at 1 May 2023 - 15,133 15,133
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 248,062 195,581
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,838 -
Trade creditors 260 20,927
Bank loans and overdrafts 6,498 6,643
Corporation tax 16,844 5,434
Other taxes and social security 79,855 52,205
Other creditors 10,175 10,175
Accruals and deferred income 1,038 654
Director's loan account 575 895
Payments on account 86,114 -
206,197 96,933
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 27,300 -
Bank loans 28,086 33,548
55,386 33,548
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,838 -
Later than one year and not later than five years 27,300 -
32,138 -
32,138 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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