Company registration number 10370954 (England and Wales)
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
COMPANY INFORMATION
Directors
Mr P Hampson
Mrs J A Hampson
Mrs L Hampson
Mr A J Hill
Mrs K L Birch
(Appointed 13 November 2023)
Mr C J Higginson
Secretary
Mr P Hampson
Company number
10370954
Registered office
12th Floor
20 Chapel Street
Liverpool
Merseyside
L3 9AG
Auditor
Xeinadin Audit Limited
The Foundation
Herons Way
Chester Business Park
Chester
Cheshire
CH4 9GB
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Independent auditor's report
6 - 8
Profit and loss account
9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Statement of cash flows
13
Notes to the financial statements
14 - 28
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The directors present the strategic report for the year ended 30 September 2024.

Principal activities

The principal activity of the company during the period under review was the provision of consumer legal services.

Business Summary

Cheshire Estate and Legal Ltd, operating under the CEL Solicitors brand name, was established in 2017 by Jessica Hampson, CEO.

At CEL, we recognise that the traditional hierarchical, partner‑driven law‑firm model no longer reflects the needs of today’s stakeholders. By challenging this status quo, we deliver superior outcomes for clients, employees, and investors alike.

Our “People Before Profits” philosophy underpins every aspect of our operations—driving business performance, fostering employee engagement, and ultimately yielding higher‑quality recoveries for those we serve. We take great pride in providing access to justice for vulnerable individuals affected by fraud or disadvantaged by larger corporate entities, reinforcing our commitment to integrity, equity, and stakeholder value.

Employee Interests

Our people are central to the delivery of long-term value and remain a critical component of our strategic success. We recognise that any organisational change must be assessed through the lens of its impact on employee wellbeing and corporate culture.

We are committed to fostering a workplace environment that prioritises employee experience, wellbeing, and professional development. Significant investment has been made in initiatives designed to support work-life balance and mental health, including on-site mindfulness and meditation sessions, personal training, and confidence coaching. In support of staff wellbeing, the business operates an early closure policy every Friday, dedicating this time to hosting guest speakers, facilitating workshops, and creating space for employees to wind-down ahead of the weekend.

Our cultural initiatives are further supported through monthly ‘culture clubs’ and regular diversity and inclusion forums, ensuring an inclusive environment that reflects the diverse perspectives of our workforce.

We have implemented a transparent and equitable benefits framework across all levels of the organisation, underpinned by clearly defined pay scales and structured career progression pathways. These initiatives are designed to promote fairness, enhance motivation, and provide clarity on earnings potential.

Employee engagement is rigorously monitored through structured surveys, anonymous feedback mechanisms, and regular sentiment analysis. Retention metrics are reviewed monthly, and we remain committed to addressing disparities through active gender pay gap analysis and corrective action where required.

Our approach can be summarised as: Happy staff, make happy clients, make for happy profits.

CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
Financial Review and Key Performance Indicators

The business saw revenue plateau during the reporting period, with total revenues reaching £14.1 million— largely in line with the previous year—reflecting steady performance, primarily supported by our Fraud division.

Following a period of significant expansion in the prior financial year, the business entered a phase of operational consolidation amidst emerging macroeconomic headwinds. In particular, the Financial Ombudsman Service (FOS) adopted a disproportionately stringent stance toward financial services claims, while the introduction of fee caps in July 2024 resulted in an average revenue reduction of approximately £800 per claim. Despite the short-term negative cash impact, we anticipate offsetting this through the implementation of mandatory reimbursement protocols in the forthcoming year, which are expected to accelerate recoveries.

In response to continued growth, marketing expenditure was increased. However, the temporary suspension of fraud reimbursements by a prominent challenger bank—pending FCA approval—negatively impacted receipts over a 12-month period. While this delayed inflow adversely affected top-line performance, our pipeline of unresolved client losses grew significantly, exceeding £250 million, with future revenue potential estimated at £30 million.

The introduction of third-party tranche investment in May 2022, facilitated through a £40 million facility, has supported revenue generation, with £6.75 million drawn to date. However, the terms agreed under prior management have resulted in disproportionate finance costs relative to growth. Finance expenses currently total £3.5 million, against a peak investor capital exposure of £1.25 million. Drawdowns have since been paused and the facility is now in run-off. Refinancing remains a strategic priority to support sustainable future growth.

Cost pressures have led the business to identify and implement efficiency gains across operations. Real-time dashboard reporting has been embedded throughout the organisation, providing data-driven insights that inform strategic and operational decision-making. Enhanced visibility has enabled the deployment of targeted marketing initiatives, focused on high-margin segments.

Other information and explanations

Board Composition

Board composition remains a strategic priority as we continue to ensure a robust balance of industry expertise, governance capability, and regulatory insight. During the period, the board underwent a period of consolidation, resulting in the planned departure of several executives. These changes reflect our commitment to aligning leadership with the evolving needs of the business and its long-term objectives. We continue to benefit from the input of external advisors, who provide valuable perspectives across legislative, regulatory, and compliance domains.

Future Developments

Innovation has been formally embedded as a core value within our corporate framework, underpinning our strategic direction and commitment to long-term stakeholder value. To support this, we have established a dedicated internal innovation function tasked with identifying, testing, and implementing emerging opportunities that align with our growth strategy.

This year, we expanded our capabilities within the cryptocurrency space, with a focused team actively assessing market dynamics and potential areas for commercial deployment. Leveraging advanced technologies remains a key enabler of value creation. Notably, we have developed proprietary generative AI software, designed to assist our fee earners in the production of client correspondence. This tool has materially enhanced productivity across our operations and underscores our continued investment in scalable, tech-enabled solutions.

In response to increasing macroeconomic uncertainty, we are also strengthening our litigation functions to ensure operational resilience and the ability to address evolving client and market demands effectively.

CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -

Concentration Risk

We maintain ongoing oversight of our debtor book composition, which is primarily concentrated among high street banks and e-money institutions. To mitigate exposure risk, we ensure that no single Defendant, Insurer, bank or banking group holds a disproportionate share of our receivables. This strategic diversification reduces the potential for cash flow disruption and supports operational continuity.

We maintain active engagement with key stakeholders, including senior banking executives and the Financial Ombudsman Service, to facilitate a consistent and predictable flow of fraud-related recoveries under the Contingent Reimbursement Model (CRM).

 

Credit and Liquidity Risk

Liquidity management is a fundamental pillar of our financial strategy, particularly given the capital-intensive nature of our customer acquisition model. Maintaining adequate cash reserves is critical to ensuring business continuity and supporting growth. Our approach includes close monitoring of working capital, with a focus on sustaining a positive net cash flow position.

Cash generation remains a core success factor. Budgeting has transitioned to a three-month rolling model, ensuring cash positions are continuously recalibrated and aligned to operational needs. Surpluses are strategically reinvested into marketing and case acquisition.

 

Macroeconomic Environment

The business actively monitors macroeconomic and geopolitical developments across the UK and broader EU markets. The ongoing conflict in Ukraine and the resulting financial sanctions have presented challenges for e-money firms, particularly in securing UK banking licences. In response, we have developed contingency-based cash flow models to plan for both favourable and adverse licensing outcomes.

Additionally, prospective regulatory changes—particularly from changes in litigation fixed cost rules and the Financial Ombudsman Service—pose potential risks to gross margins and case resolution timelines. During the year, two significant regulatory changes materially affected the business, and forthcoming consultations regarding the treatment of interest rate awards may place further downward pressure on gross margins. To mitigate these uncertainties, we have conducted comprehensive scenario planning to assess a range of regulatory and operational outcomes, and continue to funnel investment into other areas to dilute any financial implications that may arise.

On behalf of the board

Mr P Hampson
Director
30 June 2025
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -

The directors present their annual report and financial statements for the year ended 30 September 2024.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £318,332. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr P Hampson
Mrs J A Hampson
Mrs L Hampson
Mr A J Hill
Mr J Lowry
(Resigned 7 April 2025)
Mrs K L Birch
(Appointed 13 November 2023)
Mr C J Higginson
Mr P Adlard
(Resigned 13 November 2023)
Mr C S Johnson
(Resigned 5 January 2024)
Auditor

In accordance with the company's articles, a resolution proposing that Xeinadin Audit Limited be reappointed as auditor of the company will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of risks and future developments.

CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr P Hampson
Director
30 June 2025
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
- 6 -
Opinion

We have audited the financial statements of Cheshire Estate and Legal Limited T-A CEL Solicitors (the 'company') for the year ended 30 September 2024 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS (CONTINUED)
- 7 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

 

CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS (CONTINUED)
- 8 -

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. 

Secondly, the company is subject to many other laws and regulations where the consequence of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance the imposition of fines or litigation or the loss of the company’s license to operate.  Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Stephanie Baker BA(Hons) ACA (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited, Statutory Auditor
Chartered Accountants
The Foundation
Herons Way
Chester Business Park
Chester
Cheshire
CH4 9GB
30 June 2025
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
2024
2023
as restated
Notes
£
£
Turnover
3
14,118,708
14,296,490
Cost of sales
(3,651,134)
(2,247,968)
Gross profit
10,467,574
12,048,522
Administrative expenses
(10,660,299)
(9,382,344)
Other operating income
522,040
278,038
Exceptional item
4
(242,845)
(991,080)
Operating profit
5
86,470
1,953,136
Interest receivable and similar income
8
18,600
-
0
Interest payable and similar expenses
9
(154,494)
(96,315)
(Loss)/profit before taxation
(49,424)
1,856,821
Tax on (loss)/profit
10
(14,553)
(9,998)
(Loss)/profit for the financial year
(63,977)
1,846,823

The profit and loss account has been prepared on the basis that all operations are continuing operations.

CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 10 -
2024
2023
as restated
£
£
(Loss)/profit for the year
(63,977)
1,846,823
Other comprehensive income
-
-
Total comprehensive income for the year
(63,977)
1,846,823
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 11 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
12
85,769
112,259
Tangible assets
13
453,370
350,540
Investments
14
844,692
526,192
1,383,831
988,991
Current assets
Debtors
15
3,945,351
3,118,926
Cash at bank and in hand
352,309
2,045,446
4,297,660
5,164,372
Creditors: amounts falling due within one year
16
(3,879,995)
(3,252,085)
Net current assets
417,665
1,912,287
Total assets less current liabilities
1,801,496
2,901,278
Creditors: amounts falling due after more than one year
17
(1,538,643)
(2,260,603)
Provisions for liabilities
Deferred tax liability
20
92,120
87,635
(92,120)
(87,635)
Net assets
170,733
553,040
Capital and reserves
Called up share capital
22
1,002
1,000
Profit and loss reserves
169,731
552,040
Total equity
170,733
553,040

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 30 June 2025 and are signed on its behalf by:
Mr P  Hampson
Director
Company registration number 10370954 (England and Wales)
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
As restated for the period ended 30 September 2023:
Balance at 1 October 2022
1,000
(1,294,783)
(1,293,783)
Year ended 30 September 2023:
Profit and total comprehensive income
-
1,846,823
1,846,823
Balance at 30 September 2023
1,000
552,040
553,040
Year ended 30 September 2024:
Loss and total comprehensive income
-
(63,977)
(63,977)
Issue of share capital
22
2
-
2
Dividends
11
-
(318,332)
(318,332)
Balance at 30 September 2024
1,002
169,731
170,733
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 13 -
2024
2023
as restated
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
26
(605,850)
1,692,323
Interest paid
(154,494)
(96,315)
Income taxes refunded/(paid)
90,539
(128,114)
Net cash (outflow)/inflow from operating activities
(669,805)
1,467,894
Investing activities
Purchase of intangible assets
(30,544)
(70,932)
Proceeds from disposal of intangibles
(1,936)
-
0
Purchase of tangible fixed assets
(235,605)
(6,386)
Proceeds from disposal of investments
(318,500)
-
0
Repayment of loans
150,526
(150,526)
Interest received
18,600
-
0
Net cash used in investing activities
(417,459)
(227,844)
Financing activities
Proceeds from issue of shares
2
-
0
Repayment of bank loans
(310,960)
439,253
Payment of finance leases obligations
23,417
-
0
Dividends paid
(318,332)
-
0
Net cash (used in)/generated from financing activities
(605,873)
439,253
Net (decrease)/increase in cash and cash equivalents
(1,693,137)
1,679,303
Cash and cash equivalents at beginning of year
2,045,446
366,143
Cash and cash equivalents at end of year
352,309
2,045,446
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 14 -
1
Accounting policies
Company information

Cheshire Estate and Legal Limited T-A CEL Solicitors is a private company limited by shares incorporated in England and Wales. The registered office is 12th Floor, 20 Chapel Street, Liverpool, Merseyside, L3 9AG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover represents amounts chargeable to clients for professional services provided during the year, inclusive of the direct expenses incurred on client assignments but excluding value added tax. Turnover is recognised when a right to consideration has been obtained through performance under each contract and where it is probable that economic benefit will flow to the entity, and amount can be measured reliably.

The company is engaged in resolution of civil claims cases on behalf of private clients. The terms of the engagement are generally on a 'no win-no fee' conditional fee arrangement. Accordingly, income is only recognised when the outcome of a case is reasonably certain.

 

Profit share arrangements with third party funding providers are separately recognised as expenses on the same basis as the associated fee income.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
25% reducing balance
Lease costs
Evenly over the length of the lease
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 15 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
25% reducing balance
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.7
Borrowing costs related to fixed assets

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 16 -
1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 17 -
Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 18 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 19 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Determining the useful economic lives of assets

The company depreciates tangible assets over their estimated useful lives based on historic performance. The actual lives can vary.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Legal services
14,118,708
14,296,490
2024
2023
£
£
Other revenue
Interest income
18,600
-

All turnover arose in the United Kingdom.

4
Exceptional item
2024
2023
£
£
Expenditure
Legal fees in relation to the exeptional litigation cases
571,080
Settlement fees in relation to the exeptional litigation cases
242,845
420,000
242,845
991,080
5
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
15,750
15,000
Depreciation of owned tangible fixed assets
160,806
115,425
Amortisation of intangible assets
30,939
14,705
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 20 -
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
138
108

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
4,714,921
3,156,724
Social security costs
489,337
295,184
Pension costs
148,466
50,814
5,352,724
3,502,722
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
459,779
258,304
Company pension contributions to defined contribution schemes
16,648
5,160
476,427
263,464

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 5 (2023 - 5).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
131,568
78,472
Accrued pension at the end of the year
1,320
1,761
Full - Investment income
8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
18,600
-
0
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 21 -
9
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
154,494
96,315
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
10,068
-
0
Adjustments in respect of prior periods
-
0
(2,425)
Total current tax
10,068
(2,425)
Deferred tax
Origination and reversal of timing differences
4,485
12,423
Total tax charge
14,553
9,998

The actual charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
(Loss)/profit before taxation
(49,424)
1,856,821
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 22.02%)
(12,356)
408,872
Tax effect of expenses that are not deductible in determining taxable profit
27,811
24,410
Tax effect of utilisation of tax losses not previously recognised
(5,669)
(461,588)
Permanent capital allowances in excess of depreciation
(44,686)
(349)
Depreciation on assets not qualifying for tax allowances
47,936
28,655
Deferred tax adjustments in respect of prior years
4,485
9,998
Tax at marginal rate
(2,968)
-
0
Taxation charge for the year
14,553
9,998
11
Dividends
2024
2023
£
£
Final paid
318,332
-
0
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 22 -
12
Intangible fixed assets
Software
Lease costs
Total
£
£
£
Cost
At 1 October 2023
141,439
28,031
169,470
Additions
30,544
-
0
30,544
Other movements
-
0
(28,031)
(28,031)
At 30 September 2024
171,983
-
0
171,983
Amortisation and impairment
At 1 October 2023
55,275
1,936
57,211
Amortisation charged for the year
30,939
-
0
30,939
Transfers
-
0
(1,936)
(1,936)
At 30 September 2024
86,214
-
0
86,214
Carrying amount
At 30 September 2024
85,769
-
0
85,769
At 30 September 2023
86,164
26,095
112,259
13
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 October 2023
533,868
75,695
105,703
55,123
770,389
Additions
56,861
-
0
149,186
29,558
235,605
Other changes
28,031
-
0
-
0
-
0
28,031
At 30 September 2024
618,760
75,695
254,889
84,681
1,034,025
Depreciation and impairment
At 1 October 2023
287,247
43,062
60,227
29,313
419,849
Depreciation charged in the year
97,727
8,457
41,076
13,546
160,806
At 30 September 2024
384,974
51,519
101,303
42,859
580,655
Carrying amount
At 30 September 2024
233,786
24,176
153,586
41,822
453,370
At 30 September 2023
246,621
32,633
45,476
25,810
350,540
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 23 -
14
Fixed asset investments
2024
2023
£
£
Other investments
844,692
526,192

The other investments are artwork and are held for capital appreciation.

Movements in fixed asset investments
Other
£
Cost or valuation
At 1 October 2023
526,192
Additions
318,500
At 30 September 2024
844,692
Carrying amount
At 30 September 2024
844,692
At 30 September 2023
526,192
15
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
875,083
592,958
Corporation tax recoverable
-
0
90,539
Other debtors
1,842,900
1,506,770
Prepayments and accrued income
1,227,368
928,659
3,945,351
3,118,926
16
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
18
1,037,525
1,013,504
Obligations under finance leases
19
23,417
-
0
Trade creditors
1,314,395
1,147,072
Corporation tax
10,068
-
0
Other taxation and social security
1,219,028
326,688
Other creditors
275,562
457,321
Accruals and deferred income
-
0
307,500
3,879,995
3,252,085
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 24 -
17
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
18
205,902
540,883
Other creditors
1,332,741
1,719,720
1,538,643
2,260,603
18
Loans and overdrafts
2024
2023
£
£
Bank loans
1,243,427
1,554,387
Payable within one year
1,037,525
1,013,504
Payable after one year
205,902
540,883

The long-term loans are secured by a fixed and floating charge over its assets, including property, plant and equipment, intellectual property, and other rights. Further details are available at Companies House.

19
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
23,417
-
0

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
92,120
87,635
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
20
Deferred taxation
(Continued)
- 25 -
2024
Movements in the year:
£
Liability at 1 October 2023
87,635
Charge to profit or loss
4,485
Liability at 30 September 2024
92,120
21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
148,466
50,814

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

22
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1,000
1,000
1,000
1,000
G Shares of £1 each
2
0
2
-
0
1,002
1,000
1,002
1,000
23
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within 1 year
500,371
347,702
Years 2-5
1,983,419
1,837,338
After 5 years
569,644
1,431,529
3,053,434
3,616,569
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 26 -
24
Related party transactions

In the year there was £159,518 (2023: £104,128) of litigation expenditures incurred on behalf of a director, of which £414,503 (2023: £254,985) was receivable at the year ended 30 September 2024.

 

At the year end date there was £0 (2023: £5,160) of litigation expenditures, incurred on behalf of a related party, of which £5,160 (2023: £5,160) was receivable at the year ended 30 September 2024.

 

In the year there was a related company loan of £0 (2023: £60,421) receivable at the year ended 30 September 2024. During the year the year £60,421 was written off to the profit and loss account as an irrecoverable debt.

25
Directors' transactions

Dividends totalling £318,332 (2023: £0) were paid in the year in respect of shares held by the company's directors.

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors loans
-
150,526
486,306
(636,832)
-
150,526
486,306
(636,832)
-
26
Cash (absorbed by)/generated from operations
2024
2023
£
£
(Loss)/profit after taxation
(63,977)
1,846,823
Adjustments for:
Taxation charged
14,553
9,998
Finance costs
154,494
96,315
Investment income
(18,600)
-
0
Amortisation and impairment of intangible assets
30,939
14,705
Depreciation and impairment of tangible fixed assets
160,806
115,425
Movements in working capital:
Decrease in stocks
-
0
209,839
Increase in debtors
(1,067,490)
(1,600,975)
Increase in creditors
183,425
1,000,193
Cash (absorbed by)/generated from operations
(605,850)
1,692,323
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 27 -
27
Analysis of changes in net funds/(debt)
1 October 2023
Cash flows
30 September 2024
£
£
£
Cash at bank and in hand
2,045,446
(1,693,137)
352,309
Borrowings excluding overdrafts
(1,554,387)
310,960
(1,243,427)
Lease liabilities
-
(23,417)
(23,417)
491,059
(1,405,594)
(914,535)
28
Prior period adjustment

During the current year review, it was identified that in the prior year financial statements, accrued income had been incorrectly classified under Stock. In accordance with proper accounting treatment and the accruals concept, accrued income representing revenue earned but not yet received should be presented within Debtors, not Stock. As a result, a prior year adjustment has been made to reclassify the relevant balance from Stock to Debtors (Accrued Income). This adjustment ensures the financial statements more accurately reflect the nature of the asset and align with generally accepted accounting principles.

Changes to the balance sheet
As previously reported
Adjustment
As restated at 30 Sep 2023
£
£
£
Current assets
Stocks
763,514
(763,514)
-
Debtors due within one year
2,355,412
763,514
3,118,926
Net assets
553,040
-
553,040
Capital and reserves
Total equity
553,040
-
553,040
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 30 September 2023
£
£
£
Turnover
13,742,814
553,676
14,296,490
Cost of sales
262,270
(2,510,238)
(2,247,968)
Administrative expenses
(11,338,906)
1,956,562
(9,382,344)
Profit for the financial period
1,846,823
-
1,846,823
Reconciliation of changes in equity
The prior period adjustments do not give rise to any effect upon equity.
CHESHIRE ESTATE AND LEGAL LIMITED T-A CEL SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
28
Prior period adjustment
(Continued)
- 28 -
Reconciliation of changes in profit for the previous financial period
2023
£
Total adjustments
-
Profit as previously reported
1,846,823
Profit as adjusted
1,846,823
2024-09-302023-10-01falsefalsefalseCCH SoftwareCCH Accounts Production 2025.100Mrs J A HampsonMrs L HampsonMr A J HillMr J LowryMrs K L BirchMr C J HigginsonMr P AdlardMr C S JohnsonMr C S JohnsonMr P Hampson103709542023-10-012024-09-3010370954bus:CompanySecretaryDirector12023-10-012024-09-3010370954bus:Director12023-10-012024-09-3010370954bus:Director22023-10-012024-09-3010370954bus:Director32023-10-012024-09-3010370954bus:Director52023-10-012024-09-3010370954bus:Director62023-10-012024-09-3010370954bus:CompanySecretary12023-10-012024-09-3010370954bus:Director42023-10-012024-09-3010370954bus:Director72023-10-012024-09-3010370954bus:Director82023-10-012024-09-3010370954bus:Director92023-10-012024-09-3010370954bus:RegisteredOffice2023-10-012024-09-30103709542024-09-30103709542022-10-012023-09-3010370954core:ContinuingOperations2022-10-012023-09-301037095412023-10-012024-09-301037095412022-10-012023-09-3010370954core:RetainedEarningsAccumulatedLosses2022-10-012023-09-3010370954core:RetainedEarningsAccumulatedLosses2023-10-012024-09-3010370954core:IntangibleAssetsOtherThanGoodwill2024-09-3010370954core:IntangibleAssetsOtherThanGoodwill2023-09-3010370954core:ComputerSoftware2024-09-3010370954core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2024-09-3010370954core:ComputerSoftware2023-09-3010370954core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-09-30103709542023-09-3010370954core:LeaseholdImprovements2024-09-3010370954core:PlantMachinery2024-09-3010370954core:FurnitureFittings2024-09-3010370954core:ComputerEquipment2024-09-3010370954core:LeaseholdImprovements2023-09-3010370954core:PlantMachinery2023-09-3010370954core:FurnitureFittings2023-09-3010370954core:ComputerEquipment2023-09-3010370954core:ShareCapital2024-09-3010370954core:ShareCapital2023-09-3010370954core:RetainedEarningsAccumulatedLosses2024-09-3010370954core:RetainedEarningsAccumulatedLosses2023-09-3010370954core:ShareCapital2022-09-3010370954core:RetainedEarningsAccumulatedLosses2022-09-3010370954core:ShareCapitalOrdinaryShareClass12024-09-3010370954core:ShareCapitalOrdinaryShareClass12023-09-3010370954core:ShareCapitalOrdinaryShareClass22024-09-3010370954core:ShareCapitalOrdinaryShareClass22023-09-3010370954core:ShareCapitalOrdinaryShares2024-09-3010370954core:ShareCapitalOrdinaryShares2023-09-3010370954core:ShareCapital2023-10-012024-09-30103709542023-09-30103709542022-09-3010370954core:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3010370954core:ComputerSoftware2023-10-012024-09-3010370954core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-10-012024-09-3010370954core:LeaseholdImprovements2023-10-012024-09-3010370954core:PlantMachinery2023-10-012024-09-3010370954core:FurnitureFittings2023-10-012024-09-3010370954core:ComputerEquipment2023-10-012024-09-3010370954core:UKTax2023-10-012024-09-3010370954core:UKTax2022-10-012023-09-301037095422023-10-012024-09-301037095422022-10-012023-09-3010370954core:ComputerSoftware2023-09-3010370954core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-09-3010370954core:ComputerSoftwarecore:ExternallyAcquiredIntangibleAssets2023-10-012024-09-3010370954core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillcore:ExternallyAcquiredIntangibleAssets2023-10-012024-09-3010370954core:ExternallyAcquiredIntangibleAssets2023-10-012024-09-3010370954core:LeaseholdImprovements2023-09-3010370954core:PlantMachinery2023-09-3010370954core:FurnitureFittings2023-09-3010370954core:ComputerEquipment2023-09-3010370954core:Non-currentFinancialInstruments2024-09-3010370954core:Non-currentFinancialInstruments2023-09-3010370954core:CurrentFinancialInstruments2024-09-3010370954core:CurrentFinancialInstruments2023-09-3010370954core:Non-currentFinancialInstruments12024-09-3010370954core:Non-currentFinancialInstruments12023-09-3010370954core:WithinOneYear2024-09-3010370954core:WithinOneYear2023-09-3010370954bus:OrdinaryShareClass12023-10-012024-09-3010370954bus:OrdinaryShareClass22023-10-012024-09-3010370954bus:OrdinaryShareClass12024-09-3010370954bus:OrdinaryShareClass12023-09-3010370954bus:OrdinaryShareClass22024-09-3010370954bus:OrdinaryShareClass22023-09-3010370954bus:AllOrdinaryShares2024-09-3010370954bus:AllOrdinaryShares2023-09-3010370954core:BetweenTwoFiveYears2024-09-3010370954core:BetweenTwoFiveYears2023-09-3010370954core:MoreThanFiveYears2024-09-3010370954core:MoreThanFiveYears2023-09-3010370954bus:PrivateLimitedCompanyLtd2023-10-012024-09-3010370954bus:FRS1022023-10-012024-09-3010370954bus:Audited2023-10-012024-09-3010370954bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP