Silverfin false false 30/06/2024 01/07/2023 30/06/2024 S J Patterson 07/02/2014 R H Stewart-Tull 07/02/2014 13 January 2025 The principal activity of the company is the supply of legal services. 08881771 2024-06-30 08881771 bus:Director1 2024-06-30 08881771 bus:Director2 2024-06-30 08881771 2023-06-30 08881771 core:CurrentFinancialInstruments 2024-06-30 08881771 core:CurrentFinancialInstruments 2023-06-30 08881771 core:Non-currentFinancialInstruments 2024-06-30 08881771 core:Non-currentFinancialInstruments 2023-06-30 08881771 core:ShareCapital 2024-06-30 08881771 core:ShareCapital 2023-06-30 08881771 core:CapitalRedemptionReserve 2024-06-30 08881771 core:CapitalRedemptionReserve 2023-06-30 08881771 core:RetainedEarningsAccumulatedLosses 2024-06-30 08881771 core:RetainedEarningsAccumulatedLosses 2023-06-30 08881771 core:PlantMachinery 2023-06-30 08881771 core:OfficeEquipment 2023-06-30 08881771 core:PlantMachinery 2024-06-30 08881771 core:OfficeEquipment 2024-06-30 08881771 core:CostValuation 2023-06-30 08881771 core:AdditionsToInvestments 2024-06-30 08881771 core:RevaluationsIncreaseDecreaseInInvestments 2024-06-30 08881771 core:CostValuation 2024-06-30 08881771 2022-06-30 08881771 2023-07-01 2024-06-30 08881771 bus:FilletedAccounts 2023-07-01 2024-06-30 08881771 bus:SmallEntities 2023-07-01 2024-06-30 08881771 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08881771 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08881771 bus:Director1 2023-07-01 2024-06-30 08881771 bus:Director2 2023-07-01 2024-06-30 08881771 core:PlantMachinery 2023-07-01 2024-06-30 08881771 core:OfficeEquipment 2023-07-01 2024-06-30 08881771 2022-07-01 2023-06-30 08881771 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Company No: 08881771 (England and Wales)

JOHN BOYLE SOLICITORS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

JOHN BOYLE SOLICITORS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

JOHN BOYLE SOLICITORS LIMITED

BALANCE SHEET

As at 30 June 2024
JOHN BOYLE SOLICITORS LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 12,318 14,202
Investments 5 125,881 0
138,199 14,202
Current assets
Debtors 6 180,059 231,123
Cash at bank and in hand 308,026 424,703
488,085 655,826
Creditors: amounts falling due within one year 7 ( 251,508) ( 226,253)
Net current assets 236,577 429,573
Total assets less current liabilities 374,776 443,775
Creditors: amounts falling due after more than one year 8 0 ( 20,000)
Provision for liabilities 9 ( 2,873) ( 3,298)
Net assets 371,903 420,477
Capital and reserves
Called-up share capital 2 2
Capital redemption reserve 2 2
Profit and loss account 371,899 420,473
Total shareholders' funds 371,903 420,477

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of John Boyle Solicitors Limited (registered number: 08881771) were approved and authorised for issue by the Board of Directors on 13 January 2025. They were signed on its behalf by:

R H Stewart-Tull
Director
JOHN BOYLE SOLICITORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
JOHN BOYLE SOLICITORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

John Boyle Solicitors Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 36 Fore Street, Redruth, TR15 2AE, England, United Kingdom.

These financial statements have been prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover in respect of client service contracts represents the right to consideration earned for the provision of legal services excluding VAT. All turnover derives from activities in the UK.

Services provided to clients during the period which, at the balance sheet date, have not been invoiced to clients have been recognised in turnover as accrued income.

Turnover is based on an assessment of the fair value of the services provided by the balance sheet date as a proportion of the total value of the engagement. Revenue is not recognised on those engagements where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included within debtors.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Plant and machinery 15 % reducing balance
Office equipment 25 % reducing balance
Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Classification:

The company holds the following financial instruments:

- Short term trade and other debtors and creditors;
- Bank loans; and
- Cash and bank balances.

All financial instruments are classified as basic.


Recognition and measurement:

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions, even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 12

3. Dividends on equity shares

2024 2023
£ £
Amounts recognised as distributions to equity holders in the financial year:
Interim dividend for the financial year ended 30 June 2024 of £80,000 (2023: £123,000) per ordinary share 160,000 246,000

4. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 July 2023 83,936 117,535 201,471
Additions 1,959 784 2,743
Disposals 0 ( 87,245) ( 87,245)
At 30 June 2024 85,895 31,074 116,969
Accumulated depreciation
At 01 July 2023 80,666 106,603 187,269
Charge for the financial year 701 2,768 3,469
Disposals 0 ( 86,087) ( 86,087)
At 30 June 2024 81,367 23,284 104,651
Net book value
At 30 June 2024 4,528 7,790 12,318
At 30 June 2023 3,270 10,932 14,202

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 July 2023 0 0
Additions 118,800 118,800
Movement in fair value 7,081 7,081
At 30 June 2024 125,881 125,881
Carrying value at 30 June 2024 125,881 125,881
Carrying value at 30 June 2023 0 0

6. Debtors

2024 2023
£ £
Trade debtors 63,373 118,351
Prepayments and accrued income 113,541 110,139
Other debtors 3,145 2,633
180,059 231,123

7. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 120,225 107,662
Other loans 20,225 20,225
Accruals 21,147 11,994
Taxation and social security 88,678 85,138
Other creditors 1,233 1,234
251,508 226,253

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 0 20,000

There are no amounts included above in respect of which any security has been given by the small entity.

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 3,298) ( 2,580)
Credited/(charged) to the Statement of Income and Retained Earnings 425 ( 718)
At the end of financial year ( 2,873) ( 3,298)

10. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 7,054 35,833

11. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owing to/(from) the directors at the year end 120,225 107,661