Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-08-01falseNo description of principal activity78truefalse 07617210 2023-08-01 2024-07-31 07617210 2024-07-31 07617210 2022-08-01 2023-07-31 07617210 2023-07-31 07617210 c:Director1 2023-08-01 2024-07-31 07617210 c:RegisteredOffice 2023-08-01 2024-07-31 07617210 d:PlantMachinery 2023-08-01 2024-07-31 07617210 d:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 07617210 d:OtherPropertyPlantEquipment 2024-07-31 07617210 d:OtherPropertyPlantEquipment 2023-07-31 07617210 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07617210 d:Goodwill 2024-07-31 07617210 d:Goodwill 2023-07-31 07617210 d:CurrentFinancialInstruments 2024-07-31 07617210 d:CurrentFinancialInstruments 2023-07-31 07617210 d:Non-currentFinancialInstruments 2024-07-31 07617210 d:Non-currentFinancialInstruments 2023-07-31 07617210 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 07617210 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 07617210 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 07617210 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 07617210 d:ShareCapital 2024-07-31 07617210 d:ShareCapital 2023-07-31 07617210 d:RetainedEarningsAccumulatedLosses 2024-07-31 07617210 d:RetainedEarningsAccumulatedLosses 2023-07-31 07617210 c:FRS102 2023-08-01 2024-07-31 07617210 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 07617210 c:FullAccounts 2023-08-01 2024-07-31 07617210 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07617210 d:WithinOneYear 2024-07-31 07617210 d:WithinOneYear 2023-07-31 07617210 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure
Company registration number: 07617210







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024


PAINSMITH SOLICITORS LIMITED






































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PAINSMITH SOLICITORS LIMITED
 



CONTENTS



Page
Company information
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 8


 


PAINSMITH SOLICITORS LIMITED
 


 
COMPANY INFORMATION


Director
M A L Smith 




Registered number
07617210



Registered office
1 Mansfield Business Park
Station Approach

Lymington Bottom Road

Medstead, Alton

Hampshire

GU34 5PZ




Accountants
Menzies LLP
Chartered Accountants

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ




Page 1

 


PAINSMITH SOLICITORS LIMITED
REGISTERED NUMBER:07617210



STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
17,109
4,824

  
17,109
4,824

Current assets
  

Debtors: amounts falling due within one year
 6 
75,821
51,615

Cash at bank and in hand
  
253,037
290,651

  
328,858
342,266

Creditors: amounts falling due within one year
 7 
(202,974)
(190,126)

Net current assets
  
 
 
125,884
 
 
152,140

Total assets less current liabilities
  
142,993
156,964

Creditors: amounts falling due after more than one year
 8 
(9,208)
(19,229)

Provisions for liabilities
  

Deferred tax
  
(3,171)
(714)

  
 
 
(3,171)
 
 
(714)

Net assets
  
130,614
137,021


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
130,514
136,921

  
130,614
137,021


Page 2

 


PAINSMITH SOLICITORS LIMITED
REGISTERED NUMBER:07617210


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
M A L Smith
Director

Date: 9 April 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 


PAINSMITH SOLICITORS LIMITED
 


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

1.


General information

Painsmith Solicitors Limited 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 its registered office and principal place of business is 1 Mansfield Business Park, Station Approach, Lymington Bottom Road, Medstead, Alton, Hampshire, GU34 5PZ.
The company's functional and presentational currency is GBP. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

Intangible fixed assets and amortisation

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 


PAINSMITH SOLICITORS LIMITED
 


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

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.5

Financial Instruments

The Company only enters into basic financial instruments transactiions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. 

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.8

Operating leases: the Company as lessee

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

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 


PAINSMITH SOLICITORS LIMITED
 


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

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

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


4.


Intangible assets




Goodwill

£



Cost


At 1 August 2023
400,000



At 31 July 2024

400,000



Amortisation


At 1 August 2023
400,000



At 31 July 2024

400,000



Net book value



At 31 July 2024
-



At 31 July 2023
-



Page 6

 


PAINSMITH SOLICITORS LIMITED
 


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

5.


Tangible fixed assets





Plant and machinery etc.

£



Cost or valuation


At 1 August 2023
73,239


Additions
20,643



At 31 July 2024

93,882



Depreciation


At 1 August 2023
68,415


Charge for the year on owned assets
8,358



At 31 July 2024

76,773



Net book value



At 31 July 2024
17,109



At 31 July 2023
4,824


6.


Debtors

2024
2023
£
£


Trade debtors
42,171
41,007

Other debtors
28,170
-

Prepayments and accrued income
2,180
2,058

Amounts recoverable on contracts
3,300
8,550

75,821
51,615


Page 7

 


PAINSMITH SOLICITORS LIMITED
 


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

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
22,581
11,361

Corporation tax
6,381
25,744

Other taxation and social security
46,402
74,789

Other creditors
4,762
5,882

Accruals and deferred income
112,848
62,350

202,974
190,126



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
9,208
19,229

9,208
19,229



9.


Commitments under operating leases

At 31 July 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
24,000
24,000

24,000
24,000

 
Page 8