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REGISTERED NUMBER: 02889757 (England and Wales)












Financial Statements

for the Year Ended 31 December 2024

for

Association of Personal Injury Lawyers

Association of Personal Injury Lawyers (Registered number: 02889757)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Association of Personal Injury Lawyers

Company Information
for the year ended 31 December 2024







DIRECTORS: B N Dixon
R Baker
G Dalyell
D T J Easton
G W Forster
M Garba
S P Glynn
K L Harrison
V Lebrec
O M McClure
J E McQuater
P J Roberts
J Scarsbrook
S White
L A Williams
E F Darling-Finan
M A Tuff





SECRETARY: B N Dixon





REGISTERED OFFICE: Unit 3 Alder Court
Rennie Hogg Road
Nottingham
Nottinghamshire
NG2 1RX





REGISTERED NUMBER: 02889757 (England and Wales)





AUDITORS: Clayton & Brewill
Statutory Auditors and
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

Association of Personal Injury Lawyers (Registered number: 02889757)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 430,814 438,766

CURRENT ASSETS
Debtors 5 233,506 178,452
Cash at bank and in hand 6 547,376 650,054
780,882 828,506
CREDITORS
Amounts falling due within one year 7 384,344 356,187
NET CURRENT ASSETS 396,538 472,319
TOTAL ASSETS LESS CURRENT
LIABILITIES

827,352

911,085

RESERVES
Income and expenditure account 827,352 911,085
827,352 911,085

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 19 March 2025 and were signed on its behalf by:





G Dalyell - Director


Association of Personal Injury Lawyers (Registered number: 02889757)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Association of Personal Injury Lawyers is a private company, limited by guarantee , 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.

Significant judgements and estimates
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Income and expenditure
Membership subscriptions to the association cover a period of twelve months to 31 March each year. Subscriptions received during the year have been credited to the income and expenditure account, subject to the deferral of three months of each subscription, representing that portion attributable from 1 January 2025 to 31 March 2025.

Other income represents income from conferences, training events and publishing, and is recognised when the contractual obligations of the service for which the receipt relates have been delivered.

Expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% of cost or valuation
Plant and machinery etc - 20% on cost

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.


Association of Personal Injury Lawyers (Registered number: 02889757)

Notes to the Financial Statements - continued
for the year ended 31 December 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.

Foreign currencies
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 26 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 577,135 74,235 651,370
Additions - 3,378 3,378
At 31 December 2024 577,135 77,613 654,748
DEPRECIATION
At 1 January 2024 160,637 51,967 212,604
Charge for year 7,695 3,635 11,330
At 31 December 2024 168,332 55,602 223,934
NET BOOK VALUE
At 31 December 2024 408,803 22,011 430,814
At 31 December 2023 416,498 22,268 438,766

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 198,332 118,330
Other debtors 35,174 60,122
233,506 178,452

Association of Personal Injury Lawyers (Registered number: 02889757)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

6. CASH AT BANK AND IN HAND

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 73,736 19,730
Taxation and social security 43,575 18,448
Other creditors 267,033 318,009
384,344 356,187

8. FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 'Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Yvonne Jackson BSc FCA (Senior Statutory Auditor)
for and on behalf of Clayton & Brewill

Association of Personal Injury Lawyers (Registered number: 02889757)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

10. RELATED PARTY DISCLOSURES

During the year the following amounts have been paid to directors either directly or to companies controlled by them. All transactions are at arm's length and are on normal terms.

2024 2023
£    £   
Training fees
J McQuater 70,560 63,320
B Dixon 38,251 47,337
S Glynn - 2,202
R Baker 860 1,720
D Easton - 141

11. MEMBERSHIP SUBSCRIPTIONS

2024 2023 2024 2023
Number Number £    £   
Legal Practitioner 2434 2487 705,824 629,760
Associate Members 134 102 24,324 15,810
Affiliate Members 38 24 2835 2,495
Academic Associates 6 8 910 970
Complimentary Members 505 536 - -

Total 3117 3157 734,893 649,035
Add deferred income brought forward 164,059 153,490
Less deferred income carried forward (183,229 ) (164,059 )
Total 715,723 638,466

Corporate accreditation income 73,528 49,120
Add deferred income brought forward 27,445 24,188
Less deferred income carried forward (27,114 ) (27,445 )
Total 73,859 45,863

789,581 684,329




12. MEMBERS' LIABILITY

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

13. SECURED DEBTS

A charge was created on 17th January 2011 with Lloyds TSB Bank PLC. The charge was secured over Unit 3 Alder Court, Rennie Hogg Road.