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Registration number: 09961329

Paratus Law Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 July 2023 to 31 July 2024

 

Paratus Law Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Paratus Law Limited

(Registration number: 09961329)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,077

1,739

Current assets

 

Debtors

5

131,303

32,457

Cash at bank and in hand

 

28

26,739

 

131,331

59,196

Creditors: Amounts falling due within one year

6

(74,509)

(44,518)

Net current assets

 

56,822

14,678

Total assets less current liabilities

 

57,899

16,417

Creditors: Amounts falling due after more than one year

6

(9,375)

-

Net assets

 

48,524

16,417

Capital and reserves

 

Called up share capital

10,000

10,000

Retained earnings

38,524

6,417

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 members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 April 2025
 

.........................................
SD Arthur
Director

 

Paratus Law Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Oxford House
12-20 Oxford Street
Newbury
Berkshire
RG14 1JB
United Kingdom

2

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

Paratus Law Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 July 2024

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 July 2023

1,542

4,520

6,062

At 31 July 2024

1,542

4,520

6,062

Depreciation

At 1 July 2023

1,129

3,194

4,323

Charge for the period

151

511

662

At 31 July 2024

1,280

3,705

4,985

Carrying amount

At 31 July 2024

262

815

1,077

At 30 June 2023

413

1,326

1,739

5

Debtors

Current

2024
£

2023
£

Trade debtors

7,200

5,449

Prepayments

966

718

Other debtors

123,137

26,290

 

131,303

32,457

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

28,085

-

Taxation and social security

 

29,625

39,516

Other creditors

 

16,799

5,002

 

74,509

44,518

 

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

 

Loans and borrowings

8

9,375

-

7

Related party transactions

2024

Advances to directors
£

Loaned by director
£

At 31 July 2024
£

SD Arthur

159,313

(51,183)

108,083

       
     

 

2023

Advances to directors
£

Repayments by director
£

At 30 June 2023
£

SD Arthur

165,854

(165,899)

(47)

       
     

 

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

12,500

-

Bank overdrafts

15,585

-

28,085

-

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

9,375

-