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REGISTERED NUMBER: 08050038















Cordner Lewis Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Cordner Lewis Limited (Registered number: 08050038)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Cordner Lewis Limited

Company Information
for the Year Ended 31 March 2024







Directors: Mr M Cordner
Mr J J Lewis





Registered office: Nannygoat Cottage
Common-Y-Coed
Magor
Caldicot
NP26 3AX





Registered number: 08050038





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Cordner Lewis Limited (Registered number: 08050038)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
Fixed assets
Intangible assets 4 215,878 286,581

Current assets
Debtors 5 81,889 93,074
Cash at bank 10,182 149,540
92,071 242,614
Creditors
Amounts falling due within one year 6 (721 ) (44,991 )
Net current assets 91,350 197,623
Total assets less current liabilities 307,228 484,204

Creditors
Amounts falling due after more than one year 7 (2,221,833 ) (2,292,646 )
Net liabilities (1,914,605 ) (1,808,442 )

Capital and reserves
Called up share capital 2 2
Retained earnings (1,914,607 ) (1,808,444 )
Shareholders' funds (1,914,605 ) (1,808,442 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2025 and were signed on its behalf by:





Mr M Cordner - Director


Cordner Lewis Limited (Registered number: 08050038)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

Cordner Lewis 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.

Goodwill
Goodwill is the difference between the fair value of the consideration paid for an acquired entity and the aggregate of the fair value of that entity's identifiable assets and liabilities. The goodwill arose from the acquisition of the business, assets and liabilities of Cordner Lewis Solicitors.

The Goodwill is being amortised over the period of up to 6 years in proportion to the underlying contracts purchased as part of the transaction.

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.

Going concern
As at 31 March 2023 the company is reporting a shareholders deficit of (£1,808,442).

Included within creditors due after more than one year is £2,221,833 (2021: £2,292,646 ) due to the company directors.Through discussions with directors, the directors have confirmed that the above amounts will not be sought for repayment until such time as the company has sufficient reserves to do so.

The directors are confident that the company has sufficient funds to meet all other current liabilities.

Once final settlement has been received and agreed for the underlying contracts purchased as part of the business and following settlement of the remaining assets and liabilities, it is the intention of the directors to strike off the company.Accordingly the directors have not prepared the financial statements on a going concern basis. No adjustments were necessary to the amounts at which the remaining net assets are included in these financial statement.

3. Employees and directors

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

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 April 2023
and 31 March 2024 4,069,014
Amortisation
At 1 April 2023 3,782,433
Amortisation for year 70,703
At 31 March 2024 3,853,136
Net book value
At 31 March 2024 215,878
At 31 March 2023 286,581

Cordner Lewis Limited (Registered number: 08050038)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 81,889 93,074

6. Creditors: amounts falling due within one year
2024 2023
£    £   
VAT - 40,499
Accrued expenses 721 4,492
721 44,991

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Directors' loan accounts 2,221,833 2,292,646

8. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

2024 2023
£    £   
Mr M Cordner
Balance outstanding at start of year 1,007,673 1,102,904
Amounts repaid (35,397 ) (95,231 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 972,276 1,007,673

Mr J J Lewis
Balance outstanding at start of year 1,284,973 1,380,355
Amounts repaid (35,417 ) (95,382 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,249,556 1,284,973