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REGISTERED NUMBER: 12554392 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

GOVERNANCE AND LEGAL LTD

GOVERNANCE AND LEGAL LTD (REGISTERED NUMBER: 12554392)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GOVERNANCE AND LEGAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: Mrs J A Zacheva
Miss A B Zacheva



REGISTERED OFFICE: c/o Michael Heaven & Associates Limited
47 Calthorpe Road
Edgbaston
BIRMINGHAM
West Midlands
B15 1TH



REGISTERED NUMBER: 12554392 (England and Wales)



ACCOUNTANTS: Michael Heaven & Associates Limited
Chartered Certified Accountants
47 Calthorpe Road
Edgbaston
BIRMINGHAM
B15 1TH



BANKERS: HSBC
Banking Operations Coventry
Harry Weston Road
Binley
Coventry
CV3 2SH



INCORPORATED: 14th April 2020

GOVERNANCE AND LEGAL LTD (REGISTERED NUMBER: 12554392)

ABRIDGED BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,968 4,187

CURRENT ASSETS
Debtors 9,551 6,115
Cash at bank 24,118 96,684
33,669 102,799
CREDITORS
Amounts falling due within one year 16,096 25,101
NET CURRENT ASSETS 17,573 77,698
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,541

81,885

CREDITORS
Amounts falling due after more than one
year

(39,938

)

-

PROVISIONS FOR LIABILITIES 6 (445 ) (1,110 )
NET ASSETS 17,158 80,775

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 17,058 80,675
SHAREHOLDERS' FUNDS 17,158 80,775

GOVERNANCE AND LEGAL LTD (REGISTERED NUMBER: 12554392)

ABRIDGED BALANCE SHEET - continued
30TH APRIL 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd January 2025 and were signed on its behalf by:





Mrs J A Zacheva - Director


GOVERNANCE AND LEGAL LTD (REGISTERED NUMBER: 12554392)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024


1. STATUTORY INFORMATION

Governance And Legal Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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, excluding discounts, rebates, value added tax and other sales taxes.

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

Fixtures and fittings - 20% on cost
Computer expenses - 20% on cost
Motor vehicles - 25% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties.

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 balance sheet date.


GOVERNANCE AND LEGAL LTD (REGISTERED NUMBER: 12554392)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price, less any impairment. Loans receivable
are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised
cost using the effective interest method.

Hire purchase and leasing commitments
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

Operating lease payments are recognised as an expense on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

GOVERNANCE AND LEGAL LTD (REGISTERED NUMBER: 12554392)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st May 2023 6,382
Additions 49,240
At 30th April 2024 55,622
DEPRECIATION
At 1st May 2023 2,195
Charge for year 13,459
At 30th April 2024 15,654
NET BOOK VALUE
At 30th April 2024 39,968
At 30th April 2023 4,187

5. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 1,518 -
Between one and five years 39,938 -
41,456 -

6. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 445 1,110

GOVERNANCE AND LEGAL LTD (REGISTERED NUMBER: 12554392)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


6. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st May 2023 1,110
Movement (665 )
Balance at 30th April 2024 445

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80 Ordinary A £1 80 80
20 Ordinary B £1 20 20
100 100

8. RELATED PARTY DISCLOSURES

At the year end the amount due to the directors totalled £5,303. The loans are interest free and repayable on demand.