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REGISTERED NUMBER: 07529688 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

QLAW LEGAL SERVICES LIMITED

QLAW LEGAL SERVICES LIMITED (REGISTERED NUMBER: 07529688)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QLAW LEGAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: N Quantick
C Baker





REGISTERED OFFICE: 38-40 Bell Street
Reigate
Surrey
RH2 7BA





REGISTERED NUMBER: 07529688 (England and Wales)





ACCOUNTANTS: Ellis Atkins
Chartered Accountants
Constable Court
62 Dene Street
Dorking
Surrey
RH4 2DP

QLAW LEGAL SERVICES LIMITED (REGISTERED NUMBER: 07529688)

BALANCE SHEET
30TH APRIL 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 114,589 135,416
Tangible assets 5 9,193 11,599
123,782 147,015

CURRENT ASSETS
Debtors 6 252,357 385,900
Cash at bank 49,661 17,069
302,018 402,969
CREDITORS
Amounts falling due within one year 7 255,794 283,762
NET CURRENT ASSETS 46,224 119,207
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,006

266,222

CREDITORS
Amounts falling due after more than one
year

8

(306,904

)

(366,162

)

PROVISIONS FOR LIABILITIES (1,747 ) (2,436 )
NET LIABILITIES (138,645 ) (102,376 )

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings (138,665 ) (102,396 )
SHAREHOLDERS' FUNDS (138,645 ) (102,376 )

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.

QLAW LEGAL SERVICES LIMITED (REGISTERED NUMBER: 07529688)

BALANCE SHEET - continued
30TH APRIL 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 Board of Directors and authorised for issue on 31st January 2025 and were signed on its behalf by:





N Quantick - Director


QLAW LEGAL SERVICES LIMITED (REGISTERED NUMBER: 07529688)

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

1. STATUTORY INFORMATION

Qlaw Legal Services Limited 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.

The accounts have been prepared on a Going Concern basis as the directors consider it appropriate to adopt this basis in preparing the Financial Statements. On review of the business the directors have a reasonable expectation that the company will generate an income stream to support its continued operational existence. Within current and long term liabilities are balances owed to a director, who has agreed not to recall them for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance and 20% on cost

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 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.

QLAW LEGAL SERVICES LIMITED (REGISTERED NUMBER: 07529688)

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

2. ACCOUNTING POLICIES - continued

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.

Client account assets
The company holds client money as part of it's regulated activity. These assets are matched by balances due to it's clients. These balances which were £2,200,834 (2023- £1,600,965) at the year end are not included in the company's assets or liabilities on the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st May 2023
and 30th April 2024 243,743
AMORTISATION
At 1st May 2023 108,327
Amortisation for year 20,827
At 30th April 2024 129,154
NET BOOK VALUE
At 30th April 2024 114,589
At 30th April 2023 135,416

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st May 2023 16,529 39,359 52,408 108,296
Additions - 361 191 552
At 30th April 2024 16,529 39,720 52,599 108,848
DEPRECIATION
At 1st May 2023 16,018 34,746 45,933 96,697
Charge for year 128 1,207 1,623 2,958
At 30th April 2024 16,146 35,953 47,556 99,655
NET BOOK VALUE
At 30th April 2024 383 3,767 5,043 9,193
At 30th April 2023 511 4,613 6,475 11,599

QLAW LEGAL SERVICES LIMITED (REGISTERED NUMBER: 07529688)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 22,732 20,285
Other debtors 229,625 365,615
252,357 385,900

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Bank loans and overdrafts 65,618 100,203
Trade creditors 7,361 479
Taxation and social security 145,867 148,359
Other creditors 36,948 34,721
255,794 283,762

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/4/24 30/4/23
£    £   
Bank loans 70,208 92,500
Other creditors 236,696 273,662
306,904 366,162

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th April 2024 and 30th April 2023:

30/4/24 30/4/23
£    £   
N Quantick
Balance outstanding at start of year (298,662 ) 53,828
Amounts advanced 36,966 54,768
Amounts repaid - (407,258 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (261,696 ) (298,662 )