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Company No: 07734784 (England and Wales)

PENDER LAW LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2025
Pages for filing with the registrar

PENDER LAW LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2025

Contents

PENDER LAW LIMITED

BALANCE SHEET

As at 28 February 2025
PENDER LAW LIMITED

BALANCE SHEET (continued)

As at 28 February 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 211,429 207,496
211,429 207,496
Current assets
Debtors 4 531,517 552,132
Cash at bank and in hand 1,550,707 1,145,390
2,082,224 1,697,522
Creditors: amounts falling due within one year 5 ( 357,809) ( 280,967)
Net current assets 1,724,415 1,416,555
Total assets less current liabilities 1,935,844 1,624,051
Provision for liabilities 6 ( 11,697) ( 7,859)
Net assets 1,924,147 1,616,192
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 1,924,047 1,616,092
Total shareholder's funds 1,924,147 1,616,192

For the financial year ending 28 February 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Pender Law Limited (registered number: 07734784) were approved and authorised for issue by the Director on 03 July 2025. They were signed on its behalf by:

Mr R J Pender
Director
PENDER LAW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
PENDER LAW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pender Law Limited (the Company) 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 address of the Company's registered office is:
11 High Cross
Truro
Cornwall
TR1 2AJ

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover in respect of client service contracts represents the right to consideration earned for the provision of legal services excluding VAT. All turnover derives from activities in the UK.

Services provided to clients during the period which, at the balance sheet date, have not been invoiced to clients, have been recognised in turnover as accrued income.

Turnover is based on an assessment of the fair value of the services provided by the balance sheet date as a proportion of the total value of the engagement. Revenue is not recognised on those engagements where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included in debtors.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive
income.

The current corporation 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 taxable income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Land and buildings 15 - 50 years straight line
Plant and machinery etc. 4 - 6.67 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled. The company holds the following financial instruments:

Basic financial assets comprise short term trade and other debtors and cash and bank balances. Basic financial liabilities comprise short term trade and other creditors and bank loans.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including the director 25 27

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 March 2024 190,599 108,537 299,136
Additions 1,763 16,231 17,994
Disposals ( 1,232) 0 ( 1,232)
At 28 February 2025 191,130 124,768 315,898
Accumulated depreciation
At 01 March 2024 4,794 86,846 91,640
Charge for the financial year 5,104 7,743 12,847
Disposals ( 18) 0 ( 18)
At 28 February 2025 9,880 94,589 104,469
Net book value
At 28 February 2025 181,250 30,179 211,429
At 29 February 2024 185,805 21,691 207,496

4. Debtors

2025 2024
£ £
Trade debtors 179,427 212,274
Other debtors 352,090 339,858
531,517 552,132

5. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 300 1,239
Taxation and social security 196,239 133,976
Other creditors 161,270 145,752
357,809 280,967

6. Deferred tax

2025 2024
£ £
At the beginning of financial year ( 7,859) ( 6,210)
Charged to the Statement of Income and Retained Earnings ( 3,838) ( 1,649)
At the end of financial year ( 11,697) ( 7,859)

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

2025 2024
£ £
Total future minimum lease payments under non-cancellable operating lease 26,897 33,256

9. Related party transactions

Transactions with the entity's director

2025 2024
£ £
Brought forward 16,114 8,842
Advances to director 3,000 16,272
Repayments by director (16,114) (9,000)
Carried forward 3,000 16,114