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KIERNAN LAW LIMITED

Registered Number
SC465713
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2025

KIERNAN LAW LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Director

KIERNAN, Laura

Registered Address

756b Old Edinburgh Road
Uddingston
Glasgow
G71 6LA

Registered Number

SC465713 (Scotland)
KIERNAN LAW LIMITED
Balance Sheet as at
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Intangible assets32,2003,300
Tangible assets46831,025
2,8834,325
Current assets
Debtors527,80632,228
Cash at bank and on hand9,46213,271
37,26845,499
Creditors amounts falling due within one year6(33,037)(38,873)
Net current assets (liabilities)4,2316,626
Total assets less current liabilities7,11410,951
Creditors amounts falling due after one year7(6,252)(10,489)
Net assets862462
Capital and reserves
Called up share capital11
Profit and loss account861461
Shareholders' funds862462
The financial statements were approved and authorised for issue by the Director on 29 July 2025, and are signed on its behalf by:
KIERNAN, Laura
Director
Registered Company No. SC465713
KIERNAN LAW LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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 values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the service as at the balance sheet date.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment4
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20252024
Average number of employees during the year11
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2411,00011,000
At 31 March 2511,00011,000
Amortisation and impairment
At 01 April 247,7007,700
Charge for year1,1001,100
At 31 March 258,8008,800
Net book value
At 31 March 252,2002,200
At 31 March 243,3003,300
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 241,3671,367
At 31 March 251,3671,367
Depreciation and impairment
At 01 April 24342342
Charge for year342342
At 31 March 25684684
Net book value
At 31 March 25683683
At 31 March 241,0251,025
5.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables2,9252,925
Amounts owed by associates and joint ventures / participating interests23,56929,303
Other debtors1,312-
Total27,80632,228
6.Creditors: amounts due within one year

2025

2024

££
Bank borrowings and overdrafts4,8004,800
Taxation and social security26,55732,523
Accrued liabilities and deferred income1,6801,550
Total33,03738,873
7.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts6,25210,489
Total6,25210,489
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
KIERNAN, Laura29,30305,73423,569
29,30305,73423,569
The above balances which are due from the director, are interest free, unsecured and have no fixed repayment terms.