Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302025-05-1352023-10-01falseNo description of principal activity5falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12795054 2023-10-01 2024-09-30 12795054 2024-09-30 12795054 2022-10-01 2023-09-30 12795054 2023-09-30 12795054 c:Director1 2023-10-01 2024-09-30 12795054 c:RegisteredOffice 2023-10-01 2024-09-30 12795054 d:FurnitureFittings 2023-10-01 2024-09-30 12795054 d:FurnitureFittings 2024-09-30 12795054 d:FurnitureFittings 2023-09-30 12795054 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12795054 d:ComputerEquipment 2023-10-01 2024-09-30 12795054 d:ComputerEquipment 2024-09-30 12795054 d:ComputerEquipment 2023-09-30 12795054 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12795054 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12795054 d:Goodwill 2023-10-01 2024-09-30 12795054 d:Goodwill 2024-09-30 12795054 d:Goodwill 2023-09-30 12795054 d:CurrentFinancialInstruments 2024-09-30 12795054 d:CurrentFinancialInstruments 2023-09-30 12795054 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 12795054 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 12795054 d:ShareCapital 2024-09-30 12795054 d:ShareCapital 2023-09-30 12795054 d:RetainedEarningsAccumulatedLosses 2024-09-30 12795054 d:RetainedEarningsAccumulatedLosses 2023-09-30 12795054 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-10-01 2024-09-30 12795054 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-09-30 12795054 c:FRS102 2023-10-01 2024-09-30 12795054 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 12795054 c:FullAccounts 2023-10-01 2024-09-30 12795054 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 12795054 2 2023-10-01 2024-09-30 12795054 d:Goodwill d:OwnedIntangibleAssets 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure
Company registration number: 12795054







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024


FARORE LAW LIMITED






































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FARORE LAW LIMITED
 



CONTENTS



Page
Company information
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 9


 


FARORE LAW LIMITED
 


 
COMPANY INFORMATION


Director
S E McKie 




Registered number
12795054



Registered office
Octagon Point 5 Cheapside
St Paul's

London

EC2V 6AA




Accountants
Menzies LLP
Chartered Accountants

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ




Page 1

 


FARORE LAW LIMITED
REGISTERED NUMBER:12795054



STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
88,676
177,351

Tangible assets
 5 
38,557
27,249

  
127,233
204,600

Current assets
  

Debtors: amounts falling due within one year
 6 
111,766
436,820

Cash at bank and in hand
  
1,256,018
1,577,803

  
1,367,784
2,014,623

Creditors: amounts falling due within one year
 7 
(171,179)
(576,847)

Net current assets
  
 
 
1,196,605
 
 
1,437,776

Total assets less current liabilities
  
1,323,838
1,642,376

Provisions for liabilities
  

Deferred tax
  
(6,568)
(3,261)

Other provisions
  
(2,425)
-

  
 
 
(8,993)
 
 
(3,261)

Net assets
  
1,314,845
1,639,115


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,314,844
1,639,114

  
1,314,845
1,639,115


Page 2

 


FARORE LAW LIMITED
REGISTERED NUMBER:12795054


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 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: 




................................................
S E McKie
Director

Date: 13 May 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 


FARORE LAW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Farore Law 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 principal place of business is the same as the address of its registered office and is disclosed on the company information page.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

Page 4

 


FARORE LAW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Goodwill
-
20%
straight line

Page 5

 


FARORE LAW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

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.

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:

Fixtures and fittings
-
33%
straight line
Computer equipment
-
33%
straight line

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.

 
2.8

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.

  
2.9

Financial instruments

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

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 -5).

Page 6

 


FARORE LAW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 October 2023
443,378



At 30 September 2024

443,378



Amortisation


At 1 October 2023
266,027


Charge for the year on owned assets
88,675



At 30 September 2024

354,702



Net book value



At 30 September 2024
88,676



At 30 September 2023
177,351



Page 7

 


FARORE LAW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 October 2023
35,334
6,903
42,237


Additions
27,729
3,878
31,607


Disposals
(969)
-
(969)



At 30 September 2024

62,094
10,781
72,875



Depreciation


At 1 October 2023
11,893
3,095
14,988


Charge for the year on owned assets
17,841
2,363
20,204


Disposals
(874)
-
(874)



At 30 September 2024

28,860
5,458
34,318



Net book value



At 30 September 2024
33,234
5,323
38,557



At 30 September 2023
23,441
3,808
27,249


6.


Debtors

2024
2023
£
£


Trade debtors
34,498
255,906

Other debtors
43,672
35,843

Prepayments and accrued income
12,252
12,044

Amounts recoverable on contracts
21,344
133,027

111,766
436,820


Page 8

 


FARORE LAW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
8,540
9,744

Corporation tax
85,098
400,046

Other taxation and social security
57,516
112,970

Other creditors
10,500
45,652

Accruals and deferred income
9,525
8,435

171,179
576,847



8.


Provisions





Dilapidation provision

£





Charged to profit or loss
2,425



At 30 September 2024
2,425

 
Page 9