Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-31true2024-04-01falseNo description of principal activity1817falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC354286 2024-04-01 2025-03-31 SC354286 2023-04-01 2024-03-31 SC354286 2025-03-31 SC354286 2024-03-31 SC354286 c:Director1 2024-04-01 2025-03-31 SC354286 c:RegisteredOffice 2024-04-01 2025-03-31 SC354286 d:MotorVehicles 2024-04-01 2025-03-31 SC354286 d:MotorVehicles 2025-03-31 SC354286 d:MotorVehicles 2024-03-31 SC354286 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 SC354286 d:OfficeEquipment 2024-04-01 2025-03-31 SC354286 d:OfficeEquipment 2025-03-31 SC354286 d:OfficeEquipment 2024-03-31 SC354286 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 SC354286 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 SC354286 d:CurrentFinancialInstruments 2025-03-31 SC354286 d:CurrentFinancialInstruments 2024-03-31 SC354286 d:Non-currentFinancialInstruments 2025-03-31 SC354286 d:Non-currentFinancialInstruments 2024-03-31 SC354286 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 SC354286 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC354286 d:Non-currentFinancialInstruments d:AfterOneYear 2025-03-31 SC354286 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC354286 d:ShareCapital 2025-03-31 SC354286 d:ShareCapital 2024-03-31 SC354286 d:RetainedEarningsAccumulatedLosses 2025-03-31 SC354286 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC354286 c:OrdinaryShareClass1 2024-04-01 2025-03-31 SC354286 c:OrdinaryShareClass1 2025-03-31 SC354286 c:FRS102 2024-04-01 2025-03-31 SC354286 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 SC354286 c:FullAccounts 2024-04-01 2025-03-31 SC354286 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC354286 e:PoundSterling 2024-04-01 2025-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC354286










ORMISTON'S LAW PRACTICE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

 
ORMISTON'S LAW PRACTICE LIMITED
 

COMPANY INFORMATION


Director
Mr T Ormiston 




Registered number
SC354286



Registered office
Suite 5, Unit 3
Lomond Business Park

Baltimore Road

Glenrothes

KY6 2SU




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
ORMISTON'S LAW PRACTICE LIMITED
REGISTERED NUMBER:SC354286

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
£
£

Fixed assets
  

Tangible assets
 4 
74,000
90,663

  
74,000
90,663

Current assets
  

Debtors: amounts falling due within one year
 5 
321,661
466,557

Cash at bank and in hand
  
92,855
41,952

  
414,516
508,509

Creditors: amounts falling due within one year
 6 
(366,999)
(235,180)

Net current assets
  
 
 
47,517
 
 
273,329

Total assets less current liabilities
  
121,517
363,992

Creditors: amounts falling due after more than one year
 7 
(33,524)
(40,788)

  

Net assets
  
87,993
323,204


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
87,992
323,203

  
87,993
323,204


Page 1

 
ORMISTON'S LAW PRACTICE LIMITED
REGISTERED NUMBER:SC354286

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025

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 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 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: 




Mr T Ormiston
Director

Date: 3 June 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ORMISTON'S LAW PRACTICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Ormiston's Law Practice Limited is a private company, limited by shares and incorporated in Scotland, registration number SC345286. The registered office address is Suite 5, Unit 3, Lomond Business Park, Baltimore Road, Glenrothes, Fife, KY6 2SU.
The financial statements are presented in sterling which is the functional currency of the company and 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 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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 3

 
ORMISTON'S LAW PRACTICE LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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 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.


 
2.7

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.

Page 4

 
ORMISTON'S LAW PRACTICE LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Motor vehicles
-
20% straight line
Office equipment
-
25% - 33.33% 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 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 Statement of financial position 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.

 
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 18 (2024 - 17).

Page 5

 
ORMISTON'S LAW PRACTICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2024
108,788
52,390
161,178


Additions
24,059
2,505
26,564


Disposals
(40,066)
-
(40,066)



At 31 March 2025

92,781
54,895
147,676



Depreciation


At 1 April 2024
26,663
43,852
70,515


Charge for the year on owned assets
19,208
5,628
24,836


Disposals
(21,675)
-
(21,675)



At 31 March 2025

24,196
49,480
73,676



Net book value



At 31 March 2025
68,585
5,415
74,000



At 31 March 2024
82,125
8,538
90,663

Page 6

 
ORMISTON'S LAW PRACTICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Debtors

2025
2024
£
£


Trade debtors
19,541
14,892

Other debtors
281,029
434,165

Prepayments and accrued income
13,380
12,210

Deferred taxation
7,711
5,290

321,661
466,557


A director's loan account due from T Ormiston is included in other debtors in the amount of £Nil (2024 - £158,559). 


6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Other taxation and social security
208,139
206,198

Obligations under finance lease and hire purchase contracts
9,991
14,283

Other creditors
132,979
-

Accruals and deferred income
15,890
14,699

366,999
235,180


Hire purchase liabilities of £9,991 (2024 - £14,283) are secured by the relevant assets.


7.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Net obligations under finance leases and hire purchase contracts
33,524
40,788

33,524
40,788


Hire purchase liabilities of £33,524 (2024 - £40,788) are secured by the relevant assets.


8.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



1 Ordinary share of £1.00
1
1



Page 7