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REGISTERED NUMBER: 08312439 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

National Law Partners Limited

National Law Partners Limited (Registered number: 08312439)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


National Law Partners Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J N Abrams
G Abrams
H Friend
O M Joseph
I R Kay





REGISTERED OFFICE: 20-24 Mathew Street
Liverpool
L2 6RE





REGISTERED NUMBER: 08312439 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

National Law Partners Limited (Registered number: 08312439)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 799,996 1,000,000
Tangible assets 5 68,599 79,782
868,595 1,079,782

CURRENT ASSETS
Debtors 6 2,132,198 2,196,082
Cash at bank and in hand 4,375 213
2,136,573 2,196,295
CREDITORS
Amounts falling due within one year 7 2,109,486 2,245,624
NET CURRENT ASSETS/(LIABILITIES) 27,087 (49,329 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

895,682

1,030,453

CREDITORS
Amounts falling due after more than one
year

8

161,112

355,351
NET ASSETS 734,570 675,102

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 734,468 675,000
734,570 675,102

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

National Law Partners Limited (Registered number: 08312439)

Balance Sheet - continued
30 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2024 and were signed on its behalf by:





G Abrams - Director


National Law Partners Limited (Registered number: 08312439)

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

1. STATUTORY INFORMATION

National Law Partners 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

National Law Partners Limited (Registered number: 08312439)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Turnover
Revenue is measured as the fair value of consideration received or receivable for satisfying performance obligations contained in contracts with clients, including expenses and disbursements but excluding discounts and Value Added Tax.

Variable consideration is included in the transaction price only to the extent that it is highly probable that a significant reversal will not be required when the uncertainties determining the level of variable consideration are subsequently resolved. Revenue is recognised when or as the company satisfies performance obligations by transferring control of services to clients. This occurs as follows for the company's various contract types:

Time-and-materials contracts are recognised over time as services are provided at the fee rate agreed with the client where there is an enforceable right to payment for performance completed to date.

Fixed-fee contracts are recognised over time based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided where there is an enforceable right to payment for performance completed to date. This is determined based on the actual inputs of time and expenses relative to total expected inputs.

Performance-fee contracts are recognised when the right to consideration arises on having met the relevant performance related elements.

Contingent-fee contracts, over and above any agreed minimum fee, are recognised at the point in time that the contingent event occurs and the company has become entitled to the revenue.

Where contracts include multiple performance obligations, the transaction price is allocated to each performance obligation based on its stand-alone selling price. Where these are not directly observable, they are estimated based on expected cost plus margin. Adjustments are made to allocate discounts proportionately relative to the stand-alone selling price of each performance obligation.

Estimates of revenues, costs or extent of progress toward completion are revised if circumstances change. Any resulting increases or decreases in estimated revenues or costs are reflected in the income statement in the period in which the circumstances that give rise to the revision become known.

For time-and-materials, fixed-fee and licence-fee contracts, fees are usually billed on account based on a payment schedule.

For performance-fee and contingent-fee contracts, fees are usually billed and paid when entitlement to the revenue has been established. If the revenue recognised by the company exceeds the amounts billed, a contract asset is recognised. If the amounts billed exceed the revenue recognised, a contract liability is recognised. Contract assets are reclassified as receivables when billed and the consideration has become unconditional because only the passage of time is required before payment is due.

The company's standard payment terms require settlement of invoices within 30 days of receipt.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 15% on reducing balance

National Law Partners Limited (Registered number: 08312439)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

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 51 (2023 - 50 ) .

National Law Partners Limited (Registered number: 08312439)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 2,000,000
AMORTISATION
At 1 May 2023 1,000,000
Charge for year 200,004
At 30 April 2024 1,200,004
NET BOOK VALUE
At 30 April 2024 799,996
At 30 April 2023 1,000,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 176,885
DEPRECIATION
At 1 May 2023 97,103
Charge for year 11,183
At 30 April 2024 108,286
NET BOOK VALUE
At 30 April 2024 68,599
At 30 April 2023 79,782

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 644,803 580,428
Amounts recoverable on contract 900,461 1,415,877
Other debtors 586,934 199,777
2,132,198 2,196,082

National Law Partners Limited (Registered number: 08312439)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 800,667 697,626
Trade creditors 597,532 638,316
Taxation and social security 536,593 660,362
Other creditors 174,694 249,320
2,109,486 2,245,624

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 161,112 355,351

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.24 30.4.23
£    £   
Within one year 159,950 163,479
Between one and five years 306,571 466,521
466,521 630,000

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank overdraft - 8,153
Bank loans 318,123 329,057
318,123 337,210

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr G Abrams, a director operates a current account to which transactions of a private nature are charged. Included in debtors at 30th April 2024 is £193,371 owed to the company. The loan is repayable on demand and includes interest at 2.25%

Mr O Joseph, a director operates a current account to which transactions of a private nature are charged. Included in debtors at 30th April 2024 is £58,308 owed to the company. The loan is repayable on demand and includes interest at 2.25%

Mr J Abrams, a director operates a current account to which transactions of a private nature are charged. Included in debtors at 30th April 2024 is £74,819 owed to the company. The loan is repayable on demand and includes interest at 2.25%

Mr H Friend, a director operates a current account to which transactions of a private nature are charged. Included in debtors at 30th April 2024 is £63,571 owed to the company. The loan is repayable on demand and includes interest at 2.25%