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REGISTERED NUMBER: SC516438 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

The Conway Accident Law Practice Ltd.

The Conway Accident Law Practice Ltd. (Registered number: SC516438)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


The Conway Accident Law Practice Ltd.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: R E Conway





SECRETARY:





REGISTERED OFFICE: 71 Oxford Street
Glasgow
G5 9EP





REGISTERED NUMBER: SC516438 (Scotland)





ACCOUNTANTS: Burgoyne Carey
Chartered Accountants
Pavilion 2
3 Dava Street
Broomloan Road
Glasgow
G51 2JA

The Conway Accident Law Practice Ltd. (Registered number: SC516438)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,500 37,500
Tangible assets 5 3,281 4,987
10,781 42,487

CURRENT ASSETS
Debtors 6 235,631 153,884
Cash at bank and in hand 2,359 42,106
237,990 195,990
CREDITORS
Amounts falling due within one year 7 167,595 125,605
NET CURRENT ASSETS 70,395 70,385
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,176

112,872

CREDITORS
Amounts falling due after more than one
year

8

(13,333

)

(23,333

)

PROVISIONS FOR LIABILITIES (438 ) (438 )
NET ASSETS 67,405 89,101

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 67,404 89,100
SHAREHOLDERS' FUNDS 67,405 89,101

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 director acknowledges his 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 Conway Accident Law Practice Ltd. (Registered number: SC516438)

BALANCE SHEET - continued
31 MARCH 2024


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 director and authorised for issue on 28 March 2025 and were signed by:





R E Conway - Director


The Conway Accident Law Practice Ltd. (Registered number: SC516438)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

The Conway Accident Law Practice Ltd. is a private company, limited by shares , registered in Scotland. 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.

TURNOVER
Turnover represents amounts invoiced during the year net, exclusive of Value Added Tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 33% 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.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

The Conway Accident Law Practice Ltd. (Registered number: SC516438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 150,000
AMORTISATION
At 1 April 2023 112,500
Amortisation for year 30,000
At 31 March 2024 142,500
NET BOOK VALUE
At 31 March 2024 7,500
At 31 March 2023 37,500

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 1,916 1,951 17,038 20,905
DEPRECIATION
At 1 April 2023 1,150 837 13,931 15,918
Charge for year 287 167 1,252 1,706
At 31 March 2024 1,437 1,004 15,183 17,624
NET BOOK VALUE
At 31 March 2024 479 947 1,855 3,281
At 31 March 2023 766 1,114 3,107 4,987

The Conway Accident Law Practice Ltd. (Registered number: SC516438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Clients balances due 147,276 68,324
Other debtors 77,958 77,958
Sundry Debtors 4,861 -
Prepayments and accrued income 5,536 7,602
235,631 153,884

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Trade creditors 6,000 -
Amounts owed to group undertakings 117,849 73,249
Tax 2,573 19,557
Social security and other taxes - 95
Pensions 1,943 -
VAT 20,462 13,927
Other creditors 3,406 3,406
Directors' loan accounts 112 121
Accrued expenses 5,250 5,250
167,595 125,605

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 13,333 23,333

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans 10,000 10,000

Amounts falling due between one and two years:
Other loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Other loans - 2-5 years 3,333 13,333

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is an amount of £112 due to the director. Interest is not being charged on this outstanding amount and there are no repayment terms.