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REGISTERED NUMBER: 07001232 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

WALDRONS SOLICITORS LIMITED

WALDRONS SOLICITORS LIMITED (REGISTERED NUMBER: 07001232)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


WALDRONS SOLICITORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr P.W. Waldron
Mrs B. Hill
Mr J. Norton
Mrs D. Cash
Mr L T Boxall
Mr P Sheedy





REGISTERED OFFICE: Capstan House
The Waterfront
Brierley Hill
West Midlands
DY5 1XL





REGISTERED NUMBER: 07001232 (England and Wales)





ACCOUNTANTS: Poole Waterfield Limited
Ground Floor
Custom House
Waterfront East
Brierley Hill
West Midlands
DY5 1XH

WALDRONS SOLICITORS LIMITED (REGISTERED NUMBER: 07001232)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 515,396 613,411
Tangible assets 5 206,272 221,549
721,668 834,960

CURRENT ASSETS
Debtors 6 2,058,743 1,818,356
Cash at bank and in hand 1,187,097 964,880
3,245,840 2,783,236
CREDITORS
Amounts falling due within one year 7 2,043,935 1,731,479
NET CURRENT ASSETS 1,201,905 1,051,757
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,923,573

1,886,717

CREDITORS
Amounts falling due after more than one
year

8

(42,204

)

(134,269

)

PROVISIONS FOR LIABILITIES 11 (14,036 ) (19,136 )
NET ASSETS 1,867,333 1,733,312

WALDRONS SOLICITORS LIMITED (REGISTERED NUMBER: 07001232)

BALANCE SHEET - continued
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 6 6
Capital redemption reserve 4 4
Retained earnings 1,867,323 1,733,302
SHAREHOLDERS' FUNDS 1,867,333 1,733,312

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.

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 Profit and loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





Mr L T Boxall - Director


WALDRONS SOLICITORS LIMITED (REGISTERED NUMBER: 07001232)

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

1. STATUTORY INFORMATION

Waldrons Solicitors 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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax, adjusted for movements in work in progress.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

The cost of goodwill acquired in 2019, 2022 and 2024 has been recognised in full and is been amortised over its estimated useful life of five years. This goodwill relates to the purchase of legal practices in October 2019 and March 2022.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 20% on reducing balance and 2% on cost
Short leasehold - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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.


WALDRONS SOLICITORS LIMITED (REGISTERED NUMBER: 07001232)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Work in progress
Work in progress is recognised in respect of unbilled time on cases based on the estimated proportion of work done at the Balance Sheet date and the amount of costs which are considered recoverable where there is a clear and unambiguous entitlement to the relevant costs at the year end. Work in progress is included in trade debtors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 103 (2023 - 99 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023 1,376,426
Additions 42,469
At 30 April 2024 1,418,895
AMORTISATION
At 1 May 2023 763,015
Charge for year 140,484
At 30 April 2024 903,499
NET BOOK VALUE
At 30 April 2024 515,396
At 30 April 2023 613,411

WALDRONS SOLICITORS LIMITED (REGISTERED NUMBER: 07001232)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and
property leasehold fittings Totals
£    £    £    £   
COST
At 1 May 2023 140,552 189,015 282,561 612,128
Additions - - 6,498 6,498
At 30 April 2024 140,552 189,015 289,059 618,626
DEPRECIATION
At 1 May 2023 12,458 147,205 230,916 390,579
Charge for year 1,785 8,362 11,628 21,775
At 30 April 2024 14,243 155,567 242,544 412,354
NET BOOK VALUE
At 30 April 2024 126,309 33,448 46,515 206,272
At 30 April 2023 128,094 41,810 51,645 221,549

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 1,563,453 1,466,546
Other debtors 495,290 351,810
2,058,743 1,818,356

Within other debtors there is a total balance outstanding from specific members of the board of £11,107 (2023 - £27,439). The balance is unsecured and interest free. The movement in the loan balance during the year consists of advances of £9,107 and credits of £25,439

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 333,576 207,610
Trade creditors 218,687 288,863
Taxation and social security 686,812 566,664
Other creditors 804,860 668,342
2,043,935 1,731,479

WALDRONS SOLICITORS LIMITED (REGISTERED NUMBER: 07001232)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 42,204 134,269

Included in the above are balances due of £42,204 (2023 - £117,978) 1 - 2 years and £Nil (2023 - £16,291) 2 - 5 years.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.24 30.4.23
£    £   
Within one year 134,954 158,284
Between one and five years 72,097 207,052
207,051 365,336

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank overdrafts 241,917 137,561
Barclays business loans 24,199 32,917
266,116 170,478

Barclays Bank PLC holds a fixed and floating charge over the assets of company in the form of a debenture.

Limited personal guarantees in respect of the above have been provided by certain members of the Board of Directors.

11. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 14,036 19,136

Deferred
tax
£   
Balance at 1 May 2023 19,136
Provided during year (5,100 )
Balance at 30 April 2024 14,036

WALDRONS SOLICITORS LIMITED (REGISTERED NUMBER: 07001232)

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

11. PROVISIONS FOR LIABILITIES - continued

The provision above relates to accelerated capital allowances.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: 30.4.24 30.4.23
£ £ £
200 Ordinary A 0.01 2 2
1 Ordinary B 1 1 1
1 Ordinary C 1 1 1
1 Ordinary D 1 1 1
1 Ordinary E 1 1 1
1 Ordinary F 1 1 1
7 7