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REGISTERED NUMBER: 06411962 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Latitude Law Limited

Latitude Law Limited (Registered number: 06411962)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Latitude Law Limited (Registered number: 06411962)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,198 24,003
Investments 5 45 45
8,243 24,048

CURRENT ASSETS
Stocks 79,354 87,652
Debtors 6 230,179 271,930
Cash at bank and in hand 7 200,894 139,259
510,427 498,841
CREDITORS
Amounts falling due within one year 8 340,629 291,579
NET CURRENT ASSETS 169,798 207,262
TOTAL ASSETS LESS CURRENT LIABILITIES 178,041 231,310

CREDITORS
Amounts falling due after more than one year 9 (29,167 ) (20,417 )

PROVISIONS FOR LIABILITIES (2,050 ) (4,150 )
NET ASSETS 146,824 206,743

CAPITAL AND RESERVES
Called up share capital 106 112
Share premium 19,992 39,984
Capital redemption reserve 6 -
Retained earnings 126,720 166,647
SHAREHOLDERS' FUNDS 146,824 206,743

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Latitude Law Limited (Registered number: 06411962)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 April 2025 and were signed by:





Mr G McIndoe - Director


Latitude Law Limited (Registered number: 06411962)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Latitude Law Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06411962

Registered office: St James' Building
6th Floor
Oxford Street
Manchester
M1 6FQ

The presentation currency of the financial statements is the Pound Sterling (£).


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 is derived from the ordinary activities of the company. Revenue is recognised as the total sales value of work done and services provided during the year and is stated net of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold improvements - Equally over the term of the lease
Fixtures & equipment - 50% on cost and 20% on cost
Computer equipment - 33% on cost

Stocks
Work in Progress is recognised at estimated realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Latitude Law Limited (Registered number: 06411962)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 21 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Short
leasehold Fixtures Computer
improvements & equipment equipment Totals
£    £    £    £   
COST
At 1 January 2024
and 31 December 2024 147,036 28,275 63,952 239,263
DEPRECIATION
At 1 January 2024 140,115 24,168 50,977 215,260
Charge for year 6,921 1,428 7,456 15,805
At 31 December 2024 147,036 25,596 58,433 231,065
NET BOOK VALUE
At 31 December 2024 - 2,679 5,519 8,198
At 31 December 2023 6,921 4,107 12,975 24,003

Fixed assets, included in the above, which are held under finance leases are as follows:
Short
leasehold
improvements
£   
COST
At 1 January 2024
and 31 December 2024 144,220
DEPRECIATION
At 1 January 2024 137,610
Charge for year 6,610
At 31 December 2024 144,220
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 6,610

Latitude Law Limited (Registered number: 06411962)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 45
NET BOOK VALUE
At 31 December 2024 45
At 31 December 2023 45

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 114,179 113,608
Other debtors 116,000 158,322
230,179 271,930

7. CASH AT BANK AND IN HAND

Included in cash at bank is £148,729 (2023: £78,884) relating to amounts held in the client bank account.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 37,083 58,889
Finance leases (see note 10) - 6,610
Taxation and social security 52,017 74,402
Other creditors 251,529 151,678
340,629 291,579

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans 29,167 20,417

10. LEASING AGREEMENTS

Total commitments under non-cancellable finance and operating leases amount to £55,422 (2023: £31,868).

11. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 66,250 79,306
Finance leases - 6,610
66,250 85,916

The secured debts are secured via debentures which hold a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.

Latitude Law Limited (Registered number: 06411962)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

12. RELATED PARTY DISCLOSURES

At the year end the company owed £16,383 (2023: £14,788) to the director.
The loan was interest free and repayable on demand.