Company Registration No. 08413847 (England and Wales)
DEKA CHAMBERS LIMITED
A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DEKA CHAMBERS LIMITED
A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
DEKA CHAMBERS LIMITED
A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Property, plant and equipment
5
709,411
846,302
Current assets
Trade and other receivables falling due after more than one year
6
-
0
150,000
Trade and other receivables falling due within one year
6
610,306
344,437
Cash and cash equivalents
336,508
338,530
946,814
832,967
Current liabilities
7
(706,550)
(526,953)
Net current assets
240,264
306,014
Total assets less current liabilities
949,675
1,152,316
Non-current liabilities
8
(529,200)
(642,600)
Provisions for liabilities
(78,900)
(54,900)
Net assets
341,575
454,816
Equity
Retained earnings
10
341,575
454,816
Total reserves
341,575
454,816

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 25 March 2025 and are signed on its behalf by:
Mr Jacob Levy K.C.
Mr Stephen Glynn
Director
Director
Company Registration No. 08413847
DEKA CHAMBERS LIMITED
A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Deka Chambers Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 5 Norwich Street, London, EC4A 1DR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover represents service charges, excluding Value Added Tax, receivable from members during the year. Income is recognised over the period in which the services are provided and is recognised when a right to consideration arises.

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the life of the lease
Computer equipment
20% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability of another entity. They are recognised in the company's statement of financial position 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.

DEKA CHAMBERS LIMITED
A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs.

 

Financial assets are assessed for indicators of impairment at each reporting date.

Basic financial liabilities

Basic financial liabilities, including trade and other payables,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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. There is no deferred tax adjustment in the current year.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

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

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

DEKA CHAMBERS LIMITED
A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
8,000
8,000
3
Employees

The average monthly number of persons employed by the company during the year was:

2024
2023
Number
Number
Total
23
19
4
Taxation
2024
2023
£
£
Deferred tax
Origination and reversal of timing differences
24,000
7,500
5
Property, plant and equipment
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
1,124,448
81,824
1,206,272
Depreciation and impairment
At 1 April 2023
314,141
45,829
359,970
Depreciation charged in the year
120,526
16,365
136,891
At 31 March 2024
434,667
62,194
496,861
Carrying amount
At 31 March 2024
689,781
19,630
709,411
At 31 March 2023
810,307
35,995
846,302
DEKA CHAMBERS LIMITED
A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
4,199
(10,362)
Other receivables
606,107
354,799
610,306
344,437
2024
2023
Amounts falling due after more than one year:
£
£
Other receivables
-
0
150,000
Total debtors
610,306
494,437

Other debtors include rent deposits of £150,000 (2023: £150,000) in respect of leases which are repayable in December 2024.

7
Current liabilities
2024
2023
£
£
Trade payables
298,361
139,490
Taxation and social security
176,882
161,436
Other payables
231,307
226,027
706,550
526,953
8
Non-current liabilities
2024
2023
£
£
Other payables
529,200
642,600
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

DEKA CHAMBERS LIMITED
A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
9
Audit report information
(Continued)
- 6 -
Senior Statutory Auditor:
David Marks FCA
Statutory Auditor:
TC Group
Date of audit report:
26 March 2025
10
Retained earnings
2024
2023
£
£
At the beginning of the year
454,816
57,196
Loss for the year
(113,241)
(52,176)
Capital contribution
-
449,796
At the end of the year
341,575
454,816

The capital contribution in the prior year of £449,796 relates to the value of net current assets transferred to the company by the members of The Chambers of Jacob Levy K.C. As the capital contribution has been permanently bestowed it fell to be credited to distributable reserves in accordance with FRS 102.

11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
3,213,000
3,780,000
12
Related party transactions

During the prior year, the company received a capital contribution of £449,796 from the members of The Chambers of Jacob Levy K.C., as referred to in Note 9. No capital contributions were received in the current year.

 

The rental obligations of the company are guaranteed by four senior members of Chambers.

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