Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Mr M Bentata 21/06/2017 Mr D Harrington 21/06/2017 Mr D Lowen 21/06/2017 Mr F Reid 11/09/2017 25 March 2025 The principal activity of the Company during the financial year was the provision of legal services. 10829874 2024-06-30 10829874 bus:Director1 2024-06-30 10829874 bus:Director2 2024-06-30 10829874 bus:Director3 2024-06-30 10829874 bus:Director4 2024-06-30 10829874 2023-06-30 10829874 core:CurrentFinancialInstruments 2024-06-30 10829874 core:CurrentFinancialInstruments 2023-06-30 10829874 core:Non-currentFinancialInstruments 2024-06-30 10829874 core:Non-currentFinancialInstruments 2023-06-30 10829874 core:ShareCapital 2024-06-30 10829874 core:ShareCapital 2023-06-30 10829874 core:RetainedEarningsAccumulatedLosses 2024-06-30 10829874 core:RetainedEarningsAccumulatedLosses 2023-06-30 10829874 core:LeaseholdImprovements 2023-06-30 10829874 core:FurnitureFittings 2023-06-30 10829874 core:OfficeEquipment 2023-06-30 10829874 core:ComputerEquipment 2023-06-30 10829874 core:LeaseholdImprovements 2024-06-30 10829874 core:FurnitureFittings 2024-06-30 10829874 core:OfficeEquipment 2024-06-30 10829874 core:ComputerEquipment 2024-06-30 10829874 bus:OrdinaryShareClass1 2024-06-30 10829874 2023-07-01 2024-06-30 10829874 bus:FilletedAccounts 2023-07-01 2024-06-30 10829874 bus:SmallEntities 2023-07-01 2024-06-30 10829874 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10829874 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10829874 bus:Director1 2023-07-01 2024-06-30 10829874 bus:Director2 2023-07-01 2024-06-30 10829874 bus:Director3 2023-07-01 2024-06-30 10829874 bus:Director4 2023-07-01 2024-06-30 10829874 core:LeaseholdImprovements core:TopRangeValue 2023-07-01 2024-06-30 10829874 core:FurnitureFittings core:TopRangeValue 2023-07-01 2024-06-30 10829874 core:OfficeEquipment core:TopRangeValue 2023-07-01 2024-06-30 10829874 core:ComputerEquipment core:TopRangeValue 2023-07-01 2024-06-30 10829874 2022-07-01 2023-06-30 10829874 core:LeaseholdImprovements 2023-07-01 2024-06-30 10829874 core:FurnitureFittings 2023-07-01 2024-06-30 10829874 core:OfficeEquipment 2023-07-01 2024-06-30 10829874 core:ComputerEquipment 2023-07-01 2024-06-30 10829874 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 10829874 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 10829874 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10829874 (England and Wales)

LEVEL LAW LIMITED

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

LEVEL LAW LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

LEVEL LAW LIMITED

BALANCE SHEET

As at 30 June 2024
LEVEL LAW LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 58,959 28,858
58,959 28,858
Current assets
Debtors 4 2,148,219 1,828,481
Cash at bank and in hand 376,494 106,233
2,524,713 1,934,714
Creditors: amounts falling due within one year 5 ( 1,670,233) ( 1,053,998)
Net current assets 854,480 880,716
Total assets less current liabilities 913,439 909,574
Creditors: amounts falling due after more than one year 6 ( 262,318) ( 200,000)
Provision for liabilities 7 ( 11,900) ( 4,100)
Net assets 639,221 705,474
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 639,121 705,374
Total shareholders' funds 639,221 705,474

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 Level Law Limited (registered number: 10829874) were approved and authorised for issue by the Board of Directors on 25 March 2025. They were signed on its behalf by:

Mr D Harrington
Director
Mr D Lowen
Director
LEVEL LAW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
LEVEL LAW 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

Level Law 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 The Deck, 8-14 Meard Street, London, W1F 0EQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover represents the value of services rendered during the year (excluding VAT) and comprises both completed work (gross fees billed) and incomplete unbilled work (accrued income).

Gross fees billed represent the amounts (excluding VAT) derived from the provision of completed work for clients during the year. In addition, accrued income is recognised in accordance with the principles of FRS102. The movement in accrued income has been shown as turnover for the year.

Employee benefits

Defined contribution schemes
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.

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 13

3. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 July 2023 57,956 36,195 10,202 15,794 120,147
Additions 11,782 49,327 38 4,293 65,440
Disposals ( 57,956) 0 0 0 ( 57,956)
At 30 June 2024 11,782 85,522 10,240 20,087 127,631
Accumulated depreciation
At 01 July 2023 47,695 25,776 7,057 10,761 91,289
Charge for the financial year 2,357 16,429 1,986 4,306 25,078
Disposals ( 47,695) 0 0 0 ( 47,695)
At 30 June 2024 2,357 42,205 9,043 15,067 68,672
Net book value
At 30 June 2024 9,425 43,317 1,197 5,020 58,959
At 30 June 2023 10,261 10,419 3,145 5,033 28,858

4. Debtors

2024 2023
£ £
Trade debtors 1,413,425 1,309,517
Prepayments and accrued income 632,258 483,025
VAT recoverable 12,936 0
Corporation tax 4,316 0
Other debtors 85,284 35,939
2,148,219 1,828,481

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 147,813 65,901
Trade creditors 647,419 97,616
Accruals 828,429 815,952
Taxation and social security 5,700 68,128
Other creditors 40,872 6,401
1,670,233 1,053,998

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

2024 2023
£ £
Bank loans 12,318 0
Other creditors 250,000 200,000
262,318 200,000

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

7. Provision for liabilities

2024 2023
£ £
Deferred tax 11,900 4,100

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Financial commitments

Other financial commitments

The total amount of financial commitments not included in the balance sheet is £675,024 (2023 - £101,979)