Registered number
10034046
Bishop Lloyd & Jackson Solicitors Limited
Filleted Accounts
30 June 2024
Bishop Lloyd & Jackson Solicitors Limited
Registered number: 10034046
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 106,852 109,917
Current assets
Debtors 4 2,943,410 1,423,324
Cash at bank and in hand 118,490 71,779
3,061,900 1,495,103
Creditors: amounts falling due within one year 5 (2,777,305) (1,201,326)
Net current assets 284,595 293,777
Net assets 391,447 403,694
Capital and reserves
Called up share capital 100 100
Profit and loss account 391,347 403,594
Shareholder's funds 391,447 403,694
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jhangir Mahmood
Director
Approved by the board on 21 March 2025
Bishop Lloyd & Jackson Solicitors Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Fixtures, fittings, tools and equipment 20% reducing balance
Motor vehicles 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Functional and presentation currency
The financial statements of the company are measured and presented in the currency of the primary economic environment in which the company operates, the functional currency. The financial statements are presented in Pound sterling (£), which is the company’s functional currency.
Employee benefits
Short-term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.
Going concern
The financial statements have been prepared on the basis that the company will receive continued financial support from bank and director and has adequate resources to continue in operational existence for the foreseeable future.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 20
3 Tangible fixed assets
Land and buildings Fixtures, fittings, tools and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 92,000 38,773 19,962 150,735
Additions - 4,603 - 4,603
At 30 June 2024 92,000 43,376 19,962 155,338
Depreciation
At 1 July 2023 6,620 20,777 13,421 40,818
Charge for the year 1,840 4,520 1,308 7,668
At 30 June 2024 8,460 25,297 14,729 48,486
Net book value
At 30 June 2024 83,540 18,079 5,233 106,852
At 30 June 2023 85,380 17,996 6,541 109,917
4 Debtors 2024 2023
£ £
Trade debtors 68,512 93,740
Other debtors 2,874,898 1,329,584
2,943,410 1,423,324
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,407,125 1,070,877
Corporation tax 369,253 130,160
Other taxes and social security costs 536 288
Other creditors 391 1
2,777,305 1,201,326
6 Related party transactions
Included within other debtors is a director's loan of £988,547 (2023 - £313,241). S445 corporation tax of 333,634.62 (2023 - £105,719) has been accounted for and declared in CT600, company tax return.

Included within other debtors is a loan of £285,593 (2023 - £159,400) given to Foster & Foster Solicitors Ltd, a company with the same director and shareholder.
7 Controlling party
Jhangir Mahmood is the ultimate controlling party.
8 Other information
Bishop Lloyd & Jackson Solicitors Limited is a private company limited by shares and incorporated in England. Its registered office is:
77 Farringdon Road
Farringdon
London
EC1M 3JU
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