REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
LAWPRO LEGAL SYSTEMS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
LAWPRO LEGAL SYSTEMS LIMITED |
LAWPRO LEGAL SYSTEMS LIMITED (REGISTERED NUMBER: 07613513) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LAWPRO LEGAL SYSTEMS LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
LAWPRO LEGAL SYSTEMS LIMITED (REGISTERED NUMBER: 07613513) |
BALANCE SHEET |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
LAWPRO LEGAL SYSTEMS LIMITED (REGISTERED NUMBER: 07613513) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Lawpro Legal Systems Limited is a |
The company's trading address is: Level 1, Regal House, 70 London Road, Twickenham, England, TW1 3QS. |
The principal activity of the company in the year under review was that of information technology consultancy. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of 12 months and one day from the date these financial statements were approved. The directors expect the company to continue as a going concern with the additional financial support of its parent company, Leap Legal Software Ltd, as and when it becomes required. |
First year adoption of Financial Reporting Standard 102 (FRS 102) Section 1A |
These financial statements for the year ended 30 June 2024 are the first that are prepared in accordance with FRS102 Section 1A. The previous financial statements were prepared in accordance with IFRS, the date of the transition to FRS102 Section 1A is 1 July 2023. |
The transition from IFRS to FRS102 Section 1A has not had any effect on the accounting policies, equity or profit and loss for the prior period. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
The company's revenue is generated through license and support fees. License revenue entitles the customer to use a licensed product developed by the company. |
Turnover from license fees are recognised over the subscription period. Turnover from support fees are recognised when the support occurs. |
Financial instruments |
Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company does not have any other Other Financial Instruments as covered by Section 12 of FRS 102. |
LAWPRO LEGAL SYSTEMS LIMITED (REGISTERED NUMBER: 07613513) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
AMORTISATION |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
LAWPRO LEGAL SYSTEMS LIMITED (REGISTERED NUMBER: 07613513) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors & accruals |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements: |
"Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed." |
LAWPRO LEGAL SYSTEMS LIMITED (REGISTERED NUMBER: 07613513) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2024 |
9. | ULTIMATE CONTROLLING PARTY |
The immediate parent company is Leap Legal Software Ltd, a company incorporated in England and Wales. |
The smallest group to consolidate the results and financial position of the company is Legal Software Holdings Pty Ltd. Copies of the Legal Software Holdings Pty Ltd are publicly available and can be obtained from the Australian Securities & Investments Commission (ASIC), at asic.gov.au or from the registered office Level 11, 207 Kent Street, Sydney, 2000, NSW, Australia. |
The largest group to consolidate the results and financial position of the company is ATI Global Limited. Copies of the ATI Global Limited financial statements are publicly available and can be obtained from the Australian Securities & Investments Commission (ASIC), at asic.gov.au or from the ATI Global Limited registered office Level 8, 135 King Street, Sydney, 2000, NSW, Australia. |
The company's ultimate parent, ATI Global Limited, is controlled by C M Beck, who is regarded as the ultimate controlling party. |
10. | SECURED DEBTS |
There is a debenture in favour of Global Loan Agency Services Australia Nominees Pty Limited over all assets and undertakings of the company, in relation to a Deed of Accession. |