Company registration number SC602269
Castletown Law Limited
Unaudited Financial Statements
for the year ended 31 August 2024
Cavendish Bond
Chartered Accountants
Bentinck House
3 - 8 Bolsover Street
London
W1W 6AB
Castletown Law Limited
Financial statements for the year ended 31 August 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited financial statements of Castletown Law Limited for the year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006 we have prepared for your approval the financial statements of Castletown Law Limited for the year ended 31 August 2024, which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Castletown Law Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Castletown Law Limited and state those matters that we have agreed to state to the Board of Directors of Castletown Law Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Castletown Law Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Castletown Law Limited has kept adequate accounting records and to prepare financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of Castletown Law Limited. You consider that Castletown Law Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Castletown Law Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Cavendish Bond
Chartered Accountants
Bentinck House
3 - 8 Bolsover Street
London
W1W 6AB
27 May 2025
Castletown Law Limited
Financial statements for the year ended 31 August 2024
Balance Sheet
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,567 6,261
Current assets
Debtors 4 344,051 312,913
Cash at bank and in hand 106,044 32,694
450,095 345,607
Creditors: amounts falling due within one year 5 (374,095) (295,577)
Net current assets 76,000 50,030
Total assets less current liabilities 78,567 56,291
Provisions for liabilities (642) (1,566)
Net assets 77,925 54,725
Capital and reserves
Called up share capital 1,030 1,030
Profit and loss account 76,895 53,695
Shareholder's funds 77,925 54,725
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 special provisions for small companies within Part 15 of the Companies Act 2006. The company's profit and loss account for the year has not been delivered to the Registrar of Companies.
These financial statements were approved by the board on 25 May 2025 and are signed on its behalf by
A L Renton
Director
Company registration number SC602269
Castletown Law Limited
Financial statements for the year ended 31 August 2024
Notes to the Financial Statements
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, as applicable to companies subject to the small entities regime.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover derives from the rendering of services and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life as follows:
Computer equipment over 3 years
Office furniture and equipment over 5 years
Debtors
Short term debtors are measured at transaction price less any provision for bad and doubtful debts. Loans and other financial assets are initially recognised at fair value, taking account of any transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any impairment losses.
Creditors
Short term creditors are measured at the transaction price. Loans and other financial liabilities are initially recognised at fair value, taking account of any transaction costs, and are subsequently measured at amortised cost using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.

The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments.

Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument those financial instruments are classified as financial liabilities and are presented as such in the balance sheet.

Where the contractual terms of financial instruments do not meet the definition of a financial liability those financial instruments are classified as equity instruments. Dividends and other distributions relating to equity instruments are debited directly to equity.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Computer equipment Office furniture and equipment Total
£ £ £
Cost
At 1 September 2023 15,347 2,460 17,807
At 31 August 2024 15,347 2,460 17,807
Depreciation
At 1 September 2023 10,612 934 11,546
Charge for the year 3,202 492 3,694
At 31 August 2024 13,814 1,426 15,240
Net book value
At 31 August 2024 1,533 1,034 2,567
At 31 August 2023 4,735 1,526 6,261
4 Debtors 2024 2023
£ £
Trade debtors 119,177 59,760
Accrued income 104,285 154,543
Other debtors 120,589 98,610
344,051 312,913
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 329,890 199,328
Taxes and social security costs 8,265 51,817
Other creditors 35,940 44,432
374,095 295,577
6 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 5,380 5,380
7 Other information
Castletown Law Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
Forest Lodge
Gosford Road
Longniddry
East Lothian
Scotland
EH32 0LF
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