Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-31272023-08-01falseSolicitors29falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09085738 2023-08-01 2024-07-31 09085738 2022-08-01 2023-07-31 09085738 2024-07-31 09085738 2023-07-31 09085738 c:Director4 2023-08-01 2024-07-31 09085738 d:FurnitureFittings 2023-08-01 2024-07-31 09085738 d:FurnitureFittings 2024-07-31 09085738 d:FurnitureFittings 2023-07-31 09085738 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 09085738 d:Goodwill 2024-07-31 09085738 d:Goodwill 2023-07-31 09085738 d:CurrentFinancialInstruments 2024-07-31 09085738 d:CurrentFinancialInstruments 2023-07-31 09085738 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 09085738 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 09085738 d:ShareCapital 2024-07-31 09085738 d:ShareCapital 2023-07-31 09085738 d:CapitalRedemptionReserve 2024-07-31 09085738 d:CapitalRedemptionReserve 2023-07-31 09085738 d:RetainedEarningsAccumulatedLosses 2024-07-31 09085738 d:RetainedEarningsAccumulatedLosses 2023-07-31 09085738 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-08-01 2024-07-31 09085738 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-07-31 09085738 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-07-31 09085738 c:OrdinaryShareClass1 2023-08-01 2024-07-31 09085738 c:OrdinaryShareClass1 2024-07-31 09085738 c:FRS102 2023-08-01 2024-07-31 09085738 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 09085738 c:FullAccounts 2023-08-01 2024-07-31 09085738 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09085738 d:Goodwill d:OwnedIntangibleAssets 2023-08-01 2024-07-31 09085738 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09085738









PORTNER LAW LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
PORTNER LAW LIMITED
REGISTERED NUMBER: 09085738

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
218,800

Tangible assets
 5 
49,030
58,935

  
49,030
277,735

Current assets
  

Debtors: amounts falling due within one year
 6 
390,373
596,962

Cash at bank and in hand
 7 
607,281
276,073

  
997,654
873,035

Creditors: amounts falling due within one year
 8 
(843,689)
(718,248)

Net current assets
  
 
 
153,965
 
 
154,787

Total assets less current liabilities
  
202,995
432,522

Provisions for liabilities
  

Other provisions
 9 
(24,000)
(18,000)

Net assets
  
178,995
414,522


Capital and reserves
  

Called up share capital 
 10 
1,250
1,250

Capital redemption reserve
  
250
250

Profit and loss account
  
177,495
413,022

  
178,995
414,522

Page 1

 
PORTNER LAW LIMITED
REGISTERED NUMBER: 09085738
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider 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 directors acknowledge their 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 comprehensive income 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 Griver
Director

Date: 15 April 2025

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
PORTNER LAW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Portner Law Limited is a private company limited by shares and incorporated in England and Wales. The company's principal activity is to act as solicitors. The address of the registered office is 6 Cavendish Place, London, W1G 9NB.

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

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.

  
2.3

Intangible fixed assets and amortisation

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. Amortisation is charged to the profit and loss account on a straight line basis over an estimated economic life of 10 years.

 
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 3

 
PORTNER LAW 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, on the following basis.


Fixtures & fittings
-
25%
reducing balance

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

Work in progress

Work in progress is valued at the lower of cost and net realisable value after making due allowance for irrecoverable and contingent items. Cost includes all direct costs and a proportion of fixed and variable overheads. Movement in work in progress is accounted for in fees receivable, and total work in progress is stated within trade debtors at the year end.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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.

Financial instruments are recognised in the company's Balance sheet 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.

Page 4

 
PORTNER LAW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

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.

 
2.11

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.

 
2.12

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 Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.13

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.14

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.

Page 5

 
PORTNER LAW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 27 (2023 - 29).


4.


Intangible assets




Goodwill

£



Cost


At 1 August 2023
2,188,000



At 31 July 2024

2,188,000



Amortisation


At 1 August 2023
1,969,200


Charge for the year on owned assets
218,800



At 31 July 2024

2,188,000



Net book value



At 31 July 2024
-



At 31 July 2023
218,800

The goodwill arose on the acquisition of the trade, assets and liabilities of Portner & Jaskel LLP during the year ended 31 July 2015.



Page 6

 
PORTNER LAW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 August 2023
186,076


Additions
5,545



At 31 July 2024

191,621



Depreciation


At 1 August 2023
127,141


Charge for the year on owned assets
15,450



At 31 July 2024

142,591



Net book value



At 31 July 2024
49,030



At 31 July 2023
58,935

Page 7

 
PORTNER LAW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
242,184
456,050

Other debtors
1,110
2,110

Prepayments and accrued income
147,079
138,802

390,373
596,962



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
607,281
276,073

Less: bank overdrafts
-
(16,048)

607,281
260,025



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
16,048

Trade creditors
10,405
33,097

Corporation tax
310,514
209,468

Other taxation and social security
160,050
172,344

Other creditors
207,557
265,286

Accruals and deferred income
155,163
22,005

843,689
718,248


The bank loan included in creditors falling due within one year is secured by a fixed and floating charge over the company's assets.

Page 8

 
PORTNER LAW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Provisions





Dilapidation provision

£





At 1 August 2023
18,000


Charged to profit or loss
6,000



At 31 July 2024
24,000


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,250 Ordinary shares of £1.00 each
1,250
1,250



11.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £19,398 (2023: £19,502). Contributions totalling £2,474 (2023: £2,408) were payable to the fund at the balance sheet date and are included within other creditors.


12.


Related party transactions

Included within other creditors at the year end are amounts owed to the directors of £201,761 (2023: £260,545).

 
Page 9