Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01falsether letting and operating of own or leased real estate11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02015688 2023-05-01 2024-04-30 02015688 2024-04-30 02015688 2022-05-01 2023-04-30 02015688 2023-04-30 02015688 2022-05-01 02015688 c:Director1 2023-05-01 2024-04-30 02015688 d:LeaseholdInvestmentProperty 2023-05-01 2024-04-30 02015688 d:LeaseholdInvestmentProperty 2024-04-30 02015688 d:LeaseholdInvestmentProperty 2023-04-30 02015688 d:LeaseholdInvestmentProperty 2 2023-05-01 2024-04-30 02015688 d:CurrentFinancialInstruments 2024-04-30 02015688 d:CurrentFinancialInstruments 2023-04-30 02015688 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 02015688 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02015688 d:ShareCapital 2024-04-30 02015688 d:ShareCapital 2023-04-30 02015688 d:SharePremium 2024-04-30 02015688 d:SharePremium 2023-04-30 02015688 d:RetainedEarningsAccumulatedLosses 2024-04-30 02015688 d:RetainedEarningsAccumulatedLosses 2023-04-30 02015688 c:FRS102 2023-05-01 2024-04-30 02015688 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 02015688 c:FullAccounts 2023-05-01 2024-04-30 02015688 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02015688 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 02015688 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 02015688 f:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 02015688

LEGALESE LIMITED









PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
LEGALESE LIMITED
 

CONTENTS



Page
Accountants' Report
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 9


 
LEGALESE LIMITED
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LEGALESE LIMITED
FOR THE YEAR ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Legalese Limited for the year ended 30 April 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of Legalese Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Legalese Limited and state those matters that we have agreed to state to the director of Legalese Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Legalese Limited and its director for our work or for this report. 

It is your duty to ensure that Legalese Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Legalese Limited. You consider that Legalese Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Legalese Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Wellers
Accountants
1 Vincent Square
London
SW1P 2PN
31 January 2025
Page 1

 
LEGALESE LIMITED
REGISTERED NUMBER: 02015688

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
                                                                    Note
£
£

Fixed assets
  

Investment property
 4 
19,563,345
20,197,060

  
19,563,345
20,197,060

Current assets
  

Debtors: amounts falling due within one year
 5 
1,041,841
1,040,431

  
1,041,841
1,040,431

Creditors: amounts falling due within one year
 6 
(9,103,222)
(9,787,698)

Net current liabilities
  
 
 
(8,061,381)
 
 
(8,747,267)

Total assets less current liabilities
  
11,501,964
11,449,793

Provisions for liabilities
  

Deferred tax
 7 
(1,214,770)
(1,218,736)

  
 
 
(1,214,770)
 
 
(1,218,736)

Net assets
  
10,287,194
10,231,057


Capital and reserves
  

Called up share capital 
  
300
300

Share premium account
  
60,775
60,775

Profit and loss account
  
10,226,119
10,169,982

  
10,287,194
10,231,057

Page 2

 
LEGALESE LIMITED
REGISTERED NUMBER: 02015688
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J M Pritchard
Director

Date: 31 January 2025

The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
LEGALESE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Legalese Limited is a private company limited by shares, registered in England and Wales.  The address  of the registered office is 188 Fleet Street, London, United Kingdom, EC4A 2AG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at 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, less any impairment.
Page 4

 
LEGALESE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
LEGALESE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
LEGALESE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 7

 
LEGALESE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 May 2023
20,197,060


Additions at cost
56,696


Surplus on revaluation
(690,411)



At 30 April 2024
19,563,345

The 2024 valuations were made by the director, on an open market value for existing use basis.


2024
2023
£
£


Historic cost
24,464,040
24,407,343

Accumulated depreciation and impairments
(4,900,695)
(4,210,283)

19,563,345
20,197,060


5.


Debtors

2024
2023
£
£


Other debtors
232,588
232,978

Prepayments and accrued income
809,253
807,453

1,041,841
1,040,431



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
43
(473)

Other creditors
8,280,508
8,978,362

Accruals and deferred income
822,671
809,809

9,103,222
9,787,698


Page 8

 
LEGALESE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Deferred taxation




2024
2023


£

£






At beginning of year
(1,218,736)
(1,191,283)


Charged to profit or loss
3,966
(27,453)



At end of year
(1,214,770)
(1,218,736)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,214,770)
(1,218,736)

(1,214,770)
(1,218,736)


8.


Related party transactions

During the period, the company reported the following related party transactions:


2024
2023
£
£

Rents received from companies under common control of the director
1,649,000
1,649,044
Rents paid to the director, J Pritchard
797,000
797,000
Amounts due from companies under common control
-
-
Amounts due to companies under common control
8,280,408
8,978,262
-
-


9.


Controlling party

Throughout the current and previous period the company was under the control of J M Pritchard by virtue of his shareholding in the company.

 
Page 9