Caseware UK (AP4) 2024.0.164 2024.0.164 41No description of principal activity41The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-05-01falsetruefalse NI631898 2023-05-01 2024-04-30 NI631898 2022-05-01 2023-04-30 NI631898 2024-04-30 NI631898 2023-04-30 NI631898 2022-05-01 NI631898 c:Director6 2023-05-01 2024-04-30 NI631898 d:FurnitureFittings 2023-05-01 2024-04-30 NI631898 d:FurnitureFittings 2024-04-30 NI631898 d:FurnitureFittings 2023-04-30 NI631898 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 NI631898 d:ComputerEquipment 2023-05-01 2024-04-30 NI631898 d:ComputerEquipment 2024-04-30 NI631898 d:ComputerEquipment 2023-04-30 NI631898 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 NI631898 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 NI631898 d:Goodwill 2024-04-30 NI631898 d:Goodwill 2023-04-30 NI631898 d:CurrentFinancialInstruments 2024-04-30 NI631898 d:CurrentFinancialInstruments 2023-04-30 NI631898 d:Non-currentFinancialInstruments 2024-04-30 NI631898 d:Non-currentFinancialInstruments 2023-04-30 NI631898 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 NI631898 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 NI631898 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 NI631898 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 NI631898 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 NI631898 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 NI631898 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 NI631898 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 NI631898 d:ShareCapital 2024-04-30 NI631898 d:ShareCapital 2023-04-30 NI631898 d:RetainedEarningsAccumulatedLosses 2024-04-30 NI631898 d:RetainedEarningsAccumulatedLosses 2023-04-30 NI631898 c:OrdinaryShareClass1 2023-05-01 2024-04-30 NI631898 c:OrdinaryShareClass1 2023-04-30 NI631898 c:OrdinaryShareClass2 2023-05-01 2024-04-30 NI631898 c:OrdinaryShareClass2 2024-04-30 NI631898 c:OrdinaryShareClass3 2023-05-01 2024-04-30 NI631898 c:OrdinaryShareClass3 2024-04-30 NI631898 c:OrdinaryShareClass4 2023-05-01 2024-04-30 NI631898 c:OrdinaryShareClass4 2024-04-30 NI631898 c:OrdinaryShareClass5 2023-05-01 2024-04-30 NI631898 c:OrdinaryShareClass5 2024-04-30 NI631898 c:FRS102 2023-05-01 2024-04-30 NI631898 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 NI631898 c:FullAccounts 2023-05-01 2024-04-30 NI631898 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI631898 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 NI631898 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 NI631898 2 2023-05-01 2024-04-30 NI631898 6 2023-05-01 2024-04-30 NI631898 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: NI631898










O'Reilly Stewart Solicitors Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 April 2024

 
O'Reilly Stewart Solicitors Limited
Registered number: NI631898

Balance Sheet
As at 30 April 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
67,136
51,577

Investments
 6 
891,578
694,030

  
958,714
745,607

Current assets
  

Debtors: amounts falling due within one year
 7 
1,024,087
1,094,069

Cash at bank and in hand
 8 
187,844
198,290

  
1,211,931
1,292,359

Creditors: amounts falling due within one year
 9 
(1,143,862)
(973,587)

Net current assets
  
 
 
68,069
 
 
318,772

Total assets less current liabilities
  
1,026,783
1,064,379

Creditors: amounts falling due after more than one year
 10 
(89,013)
(104,167)

Provisions for liabilities
  

Deferred tax
 12 
(7,155)
(3,764)

Net assets
  
930,615
956,448


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
929,615
955,448

  
930,615
956,448


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O'Reilly Stewart Solicitors Limited
Registered number: NI631898

Balance Sheet (continued)
As at 30 April 2024

The directors consider 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 directors acknowledge their 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 comprehensive income 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 on 30 January 2025.




Mr S Gilmore
Director

The notes on pages 3 to 12 form part of these financial statements.

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O'Reilly Stewart Solicitors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

1.


General information

The entity is a private limited liability company incorporated in Northern Ireland. The company's principal place of business is its registered office at 75-77 May Street, Belfast, BT1 3JL. 

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

Going concern

The Directors of O'Reilly Stewart Solictors Limited has reviewed the resources available and believe that the company has adequate resources to continue in operational existence for the forseeable future.
Accordingly, O'Reilly Stewart Solictors Limited continues to adopt the going concern basis in preparing the financial statements.

 
2.3

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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

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Page 3

 
O'Reilly Stewart Solicitors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

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Page 4

 
O'Reilly Stewart Solicitors 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.


 
2.10

Intangible assets

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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Page 5

 
O'Reilly Stewart Solicitors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10 - 20% per annum straight line
Computer equipment
-
20 - 40% per annum straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Valuation of investments

Investments are measured at cost less accumulated impairment. 

 
2.13

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.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

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.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 41 (2023 - 41).

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Page 6

 
O'Reilly Stewart Solicitors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 May 2023
1,720,616



At 30 April 2024

1,720,616



Amortisation


At 1 May 2023
1,720,616



At 30 April 2024

1,720,616



Net book value



At 30 April 2024
-



At 30 April 2023
-



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Page 7

 
O'Reilly Stewart Solicitors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
70,952
226,662
297,614


Additions
26,587
16,005
42,592


Disposals
(13,555)
(631)
(14,186)



At 30 April 2024

83,984
242,036
326,020



Depreciation


At 1 May 2023
59,664
186,372
246,036


Charge for the year on owned assets
4,237
20,828
25,065


Disposals
(11,586)
(631)
(12,217)



At 30 April 2024

52,315
206,569
258,884



Net book value



At 30 April 2024
31,669
35,467
67,136



At 30 April 2023
11,288
40,289
51,577


6.


Fixed asset investments





Investments in LLP

£



Cost or valuation


At 1 May 2023
694,030


Additions
399,374


Disposals
(201,826)



At 30 April 2024
891,578




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Page 8

 
O'Reilly Stewart Solicitors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

7.


Debtors

2024
2023
£
£


Trade debtors
566,233
480,659

Other debtors
21,936
183,164

Prepayments and accrued income
435,918
430,246

1,024,087
1,094,069



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
187,844
198,290

187,844
198,290



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
456,219
361,437

Corporation tax
267,559
211,900

Other taxation and social security
153,869
153,394

Other creditors
67,799
93,480

Accruals and deferred income
198,416
153,376

1,143,862
973,587



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
89,013
104,167

89,013
104,167


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Page 9

 
O'Reilly Stewart Solicitors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
456,219
361,437

Amounts falling due 1-2 years

Bank loans
68,179
41,667

Amounts falling due 2-5 years

Bank loans
20,834
62,500


545,232
465,604


Certain directors have provided a joint guarantee of £600,000 as security for the bank borrowings of the company.


12.


Deferred taxation




2024
2023


£

£






At beginning of year
(3,764)
(8,547)


Charged to profit or loss
(3,391)
4,783



At end of year
(7,155)
(3,764)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(7,155)
(3,764)

(7,155)
(3,764)

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Page 10

 
O'Reilly Stewart Solicitors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



 (2023 - 1,000) Ordinary shares of £1.00 each
-
1,000
180 (2023 - nil) 'A' Ordinary shares of £1.00 each
180
-
180 (2023 - nil) 'B' Ordinary shares of £1.00 each
180
-
180 (2023 - nil) 'C' Ordinary shares of £1.00 each
180
-
170 (2023 - nil) 'D' Ordinary shares of £1.00 each
170
-
160 (2023 - nil) 'E' Ordinary shares of £1.00 each
160
-
130 (2023 - nil) 'F' Ordinary shares of £1.00 each
130
-

1,000

1,000

On 25 April 2024 the Ordinary shares of the company were redesignated as 'A' to 'F' Ordinary shares in the proportions listed above.



14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £133,855 (2023 - £82,907). Contributions totalling £nil (2023 - £3,180) were payable to the fund at the balance sheet date and are included in creditors.


15.


Client Balances

2024
2023
£
£
Client account bank balances

3,577,302

6,625,999

Client account ledger balances

(3,577,302)

(6,625,999)

-

-


The client account balances are held in designated bank accounts and have corresponding client account ledger balances.  They are not deemed to be assets or liabilities of the company and are therefore not included on the balance sheet.

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Page 11

 
O'Reilly Stewart Solicitors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

16.


Related party transactions

At the year end amounts totalling £21,529 were due to the company by the directors (2023 - £30,451 due to the company by the directors). The balances are considered to be repayable on demand. During the year interest of £8,931 (2023 - £6,767) was charged on balances outstanding.  
During the year the directors received dividends totaling £835,883 (2023 - £842,000).
No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.


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