Registration number:
for the Period from 1 July 2023 to
Paratus Law Limited
(Registration number: 09961329)
Balance Sheet as at 31 July 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
10,000 |
10,000 |
|
Retained earnings |
38,524 |
6,417 |
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Shareholders' funds |
48,524 |
16,417 |
For the financial period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Paratus Law Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Tax
The tax expense for the period comprises current tax payable.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
15% straight line basis |
Fixtures and fittings |
15% straight line basis |
Paratus Law Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 July 2024
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Client Accounts
Client accounts compromise of money held on behalf of clients. At 30th June 2024 the company held monies totalling £7,960 (2023 - £100).
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Paratus Law Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 July 2024
Tangible assets |
Fixtures and fittings |
Office equipment |
Total |
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Cost or valuation |
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At 1 July 2023 |
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At 31 July 2024 |
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Depreciation |
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At 1 July 2023 |
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Charge for the period |
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At 31 July 2024 |
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Carrying amount |
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At 31 July 2024 |
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At 30 June 2023 |
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Debtors |
Current |
2024 |
2023 |
Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
|
- |
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Taxation and social security |
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Other creditors |
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Paratus Law Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 July 2024
Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
|
Due after one year |
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Loans and borrowings |
|
- |
Related party transactions |
2024 |
Advances to directors |
Loaned by director |
At 31 July 2024 |
SD Arthur |
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|
( |
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2023 |
Advances to directors |
Repayments by director |
At 30 June 2023 |
SD Arthur |
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( |
( |
Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Bank borrowings |
|
- |
Bank overdrafts |
|
- |
|
- |
Non-current loans and borrowings
2024 |
2023 |
|
Bank borrowings |
|
- |