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Registered number: 07576113
Gardner Champion Solicitors Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Deans
Gibson House Hurricane Court
Hurricane Close
Stafford
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07576113
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,721 5,511
4,721 5,511
CURRENT ASSETS
Stocks 5 42,000 49,500
Debtors 6 188,348 134,558
Cash at bank and in hand 151,031 104,803
381,379 288,861
Creditors: Amounts Falling Due Within One Year 7 (117,126 ) (91,096 )
NET CURRENT ASSETS (LIABILITIES) 264,253 197,765
TOTAL ASSETS LESS CURRENT LIABILITIES 268,974 203,276
Creditors: Amounts Falling Due After More Than One Year 8 (10,833 ) (20,833 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,180 ) (1,323 )
NET ASSETS 256,961 181,120
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 256,761 180,920
SHAREHOLDERS' FUNDS 256,961 181,120
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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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mrs J A Ashley
Director
25 January 2025
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
Gardner Champion Solicitors Ltd is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of 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.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts.  The policies adopted for the recognition of turnover are as follows:
Rendering of services
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.  The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs.  Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the of the expenses recognised that it is probable will be recovered.
Interest receivable
Interest income is recognised using the effective interest method.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings 15% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
2.5. 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.
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2.6. Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.8. Work In Progress
Work in progress is stated at the lower of cost and net realisable value.  Costs include all direct expenditure and an appropriate proportion of fixed and variable overheads.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 8)
9 8
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 8,697 10,637 19,334
Disposals 299 - 299
As at 30 April 2024 8,996 10,637 19,633
Depreciation
As at 1 May 2023 5,798 8,025 13,823
Provided during the period 435 654 1,089
As at 30 April 2024 6,233 8,679 14,912
Net Book Value
As at 30 April 2024 2,763 1,958 4,721
As at 1 May 2023 2,899 2,612 5,511
5. Stocks
2024 2023
£ £
Work in progress 42,000 49,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 185,450 130,303
Prepayments and accrued income 2,898 4,255
188,348 134,558
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,844 11,750
Bank loans and overdrafts 10,000 10,000
Corporation tax 62,053 32,738
Other taxes and social security 1,015 522
VAT 22,996 25,761
Other creditors 471 594
Accruals and deferred income 9,267 8,045
Directors' loan accounts 480 1,686
117,126 91,096
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,833 20,833
9. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 10,833 20,833
10. Share Capital
2024 2023
Allotted, called up but not fully paid £ £
100 Ordinary A shares of £ 1.00 each 100 100
100 Ordinary B shares of £ 1.00 each 100 100
200 200
11. Other Commitments
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £17,792 (2023: £35,778).
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