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REGISTERED NUMBER: 02915724 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

Law Distribution Limited

Law Distribution Limited (Registered number: 02915724)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 8

Statement of Financial Position 9

Statement of Cash Flows 10

Notes to the Statement of Cash Flows 11

Notes to the Financial Statements 12


Law Distribution Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mrs D J Law
S Moyser
J P T Law
A P Turner
Mrs A Carus





SECRETARY: Mrs D J Law





REGISTERED OFFICE: Warehouse One
Kilbuck Lane
Haydock
St Helens
Lancashire
WA11 9SZ





REGISTERED NUMBER: 02915724 (England and Wales)





AUDITORS: Hardy & Company (Hyde) Ltd
Chartered Certified Accountants
& Statutory Auditors
Onward Chambers
34 Market Street
Hyde
Cheshire
SK14 1AH

Law Distribution Limited (Registered number: 02915724)

Strategic Report
for the Year Ended 31 December 2024


The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
In 2024 we started the year with plenty of warehouse capacity available. This space was successfully sold to new contract customers. However, new stock for storage arrived a little later than expected.

We remained open to new transport business and our warehousing customers saw contract service targets exceeded.

In 2024 our warehouses retained BRCGS AA status, we continue to receive sales enquiries due to this.

In 2025 the Directors' will review our business profile to ensure best fit with our future growth plans. A five-year plan will be delivered to support our contract customers growth.

PRINCIPAL RISKS AND UNCERTAINTIES
The company makes little use of financial instruments other than an operational bank account and so its exposure to price risk, credit risk, liquidity risk and cashflow is not material for the assessment of the assets, liabilities, financial position and profit or loss of the company

In 2024 we maximised our storage capacity so we shall work on securing longer term contract business as part of our strategy for future growth. In 2025 we will engage with current customers with the aim to extend agreements that are mutually beneficial in supporting growth.

ON BEHALF OF THE BOARD:





J P T Law - Director


11 August 2025

Law Distribution Limited (Registered number: 02915724)

Report of the Directors
for the Year Ended 31 December 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of haulage and warehousing.

DIVIDENDS
An interim dividend of £2,267 per share was paid during the year. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 will be £170,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mrs D J Law
S Moyser
J P T Law
A P Turner

Other changes in directors holding office are as follows:

C G Rouse - resigned 30 January 2024

Mrs A Carus was appointed as a director after 31 December 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Law Distribution Limited (Registered number: 02915724)

Report of the Directors
for the Year Ended 31 December 2024


AUDITORS
The auditors, Hardy & Company (Hyde) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J P T Law - Director


11 August 2025

Report of the Independent Auditors to the Members of
Law Distribution Limited


Opinion
We have audited the financial statements of Law Distribution Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of 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:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Law Distribution Limited


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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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.

Auditors' 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 a Report of the Auditors 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.

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

Based on our understanding of the Company we considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditures, and management bias in accounting estimates and judgemental areas of the financial statements such as revenue recognition.

Audit procedures performed by the engagement team included: - discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.
- understanding of management's internal controls designed to prevent and detect irregularities.
- reviewing the litigation records in so far as it related to non-compliance with laws and regulations and fraud.
- reviewing relevant meeting minutes.
- designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing.
- testing transactions entered into outside of the normal course of the Company's business: and
- identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

There are inherent limitations in the audit procedures described above and further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Law Distribution Limited


Use of our 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 a Report of the Auditors 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.




Paul Campbell (Senior Statutory Auditor)
for and on behalf of Hardy & Company (Hyde) Ltd
Chartered Certified Accountants
& Statutory Auditors
Onward Chambers
34 Market Street
Hyde
Cheshire
SK14 1AH

11 August 2025

Law Distribution Limited (Registered number: 02915724)

Statement of Income and
Retained Earnings
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   

TURNOVER 18,029,631 16,679,108

Cost of sales 12,141,470 11,331,789
GROSS PROFIT 5,888,161 5,347,319

Administrative expenses 5,879,827 5,764,336
8,334 (417,017 )

Other operating income 37,806 169,790
OPERATING PROFIT/(LOSS) 4 46,140 (247,227 )

Interest receivable and similar income 12,166 7,424
58,306 (239,803 )

Interest payable and similar expenses 5 25,116 25,825
PROFIT/(LOSS) BEFORE TAXATION 33,190 (265,628 )

Tax on profit/(loss) 6 2,875 (43,027 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

30,315

(222,601

)

Retained earnings at beginning of year 2,561,675 3,055,776

Dividends 7 (170,000 ) (271,500 )

RETAINED EARNINGS AT END OF
YEAR

2,421,990

2,561,675

Law Distribution Limited (Registered number: 02915724)

Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 8 879,753 1,103,755
Investments 9 150,410 150,485
Investment property 10 299,909 299,909
1,330,072 1,554,149

CURRENT ASSETS
Stocks 11 5,667 7,114
Debtors 12 4,086,501 3,911,483
Cash at bank and in hand 560,150 604,335
4,652,318 4,522,932
CREDITORS
Amounts falling due within one year 13 3,269,966 3,085,802
NET CURRENT ASSETS 1,382,352 1,437,130
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,712,424

2,991,279

CREDITORS
Amounts falling due after more than one
year

14

(70,396

)

(154,872

)

PROVISIONS FOR LIABILITIES 16 (219,938 ) (274,632 )
NET ASSETS 2,422,090 2,561,775

CAPITAL AND RESERVES
Called up share capital 17 75 75
Capital redemption reserve 18 25 25
Retained earnings 18 2,421,990 2,561,675
SHAREHOLDERS' FUNDS 2,422,090 2,561,775

The financial statements were approved by the Board of Directors and authorised for issue on 11 August 2025 and were signed on its behalf by:





J P T Law - Director


Law Distribution Limited (Registered number: 02915724)

Statement of Cash Flows
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 441,115 756,388
Interest paid (183 ) 6,834
Interest element of hire purchase payments
paid

(24,933

)

(32,659

)
Tax paid 32,911 172,978
Net cash from operating activities 448,910 903,541

Cash flows from investing activities
Purchase of tangible fixed assets (121,488 ) (288,085 )
Sale of tangible fixed assets 21,000 39,980
Sale of fixed asset investments 75 -
Interest received 12,166 7,424
Net cash from investing activities (88,247 ) (240,681 )

Cash flows from financing activities
Capital repayments in year (209,049 ) (289,895 )
Amount introduced by directors 45,604 353,077
Amount withdrawn by directors (71,403 ) (317,103 )
Equity dividends paid (170,000 ) (271,500 )
Net cash from financing activities (404,848 ) (525,421 )

(Decrease)/increase in cash and cash equivalents (44,185 ) 137,439
Cash and cash equivalents at beginning of
year

2

604,335

466,896

Cash and cash equivalents at end of year 2 560,150 604,335

Law Distribution Limited (Registered number: 02915724)

Notes to the Statement of Cash Flows
for the Year Ended 31 December 2024


1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.12.24 31.12.23
£    £   
Profit/(loss) before taxation 33,190 (265,628 )
Depreciation charges 331,744 321,688
Profit on disposal of fixed assets (7,253 ) (33,480 )
Finance costs 25,116 25,825
Finance income (12,166 ) (7,424 )
370,631 40,981
Decrease in stocks 1,447 1,568
(Increase)/decrease in trade and other debtors (182,130 ) 918,315
Increase/(decrease) in trade and other creditors 251,167 (204,476 )
Cash generated from operations 441,115 756,388

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 560,150 604,335
Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 604,335 466,896


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank and in hand 604,335 (44,185 ) 560,150
604,335 (44,185 ) 560,150
Debt
Finance leases (363,920 ) 209,049 (154,871 )
(363,920 ) 209,049 (154,871 )
Total 240,415 164,864 405,279

Law Distribution Limited (Registered number: 02915724)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Law Distribution Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make estimates, judgements and assumptions that affect the amounts reported. These judgements and estimates are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no significant judgements or estimates.

Turnover
Revenue is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost
Plant and machinery - at varying rates on cost

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Law Distribution Limited (Registered number: 02915724)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Investment property
Investment properties are revalued at the accounting date and the aggregate surplus or temporary deficit is recognised in the profit and loss account. A reserve transfer to the non distributable reserve account is then made.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

No depreciation or amortisation is provided. Any permanent diminutions in value below cost are charged in the profit and loss account.

This treatment is a departure from the requirements of the Companies Act concerning the depreciation of fixed assets.

The Directors consider that as these properties are not held for consumption but for investment, to depreciate them would not give a true and fair view, and that it is necessary to adopt FRS 102 for the accounts to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Each property has been valued individually and not as part of a portfolio. No account has been taken of any inter-company leases or arrangements, nor any mortgages, debentures or other charges, and no allowance has been made for any expenses of realisation nor for any taxation which might arise in the event of a disposal. The figures also do not reflect any element of special purchaser value following a merger of interests or sale to an owner or occupier of an adjoining property.

Where properties have not been included in the valuation review, they are included at cost or at the Directors' assessment of open market value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.


Law Distribution Limited (Registered number: 02915724)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Law Distribution Limited (Registered number: 02915724)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


3. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£    £   
Wages and salaries 5,811,392 5,389,338
Other pension costs 106,886 102,962
5,918,278 5,492,300

The average number of employees during the year was as follows:
31.12.24 31.12.23

Director 3 5
Office 20 19
Drivers 54 48
Warehouse 86 87
163 159

31.12.24 31.12.23
£    £   
Directors' remuneration 148,603 256,625

4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging/(crediting):

31.12.24 31.12.23
£    £   
Driver hire 1,088,553 948,658
Depreciation - owned assets 331,743 321,688
Profit on disposal of fixed assets (7,253 ) (33,480 )
Auditors' remuneration 7,550 6,750
Foreign exchange differences 9,253 18,996

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.24 31.12.23
£    £   
Interest on overdue tax 183 (6,834 )
Hire purchase 24,933 32,659
25,116 25,825

Law Distribution Limited (Registered number: 02915724)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


6. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
31.12.24 31.12.23
£    £   
Current tax:
UK corporation tax 57,569 (33,235 )
Under / (Over) Provision - 150
Total current tax 57,569 (33,085 )

Deferred tax (54,694 ) (9,942 )
Tax on profit/(loss) 2,875 (43,027 )

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24 31.12.23
£    £   
Profit/(loss) before tax 33,190 (265,628 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 25%)

8,298

(66,407

)

Effects of:
Expenses not deductible for tax purposes 6,089 8,966
Income not taxable for tax purposes (3,617 ) (608 )
Depreciation in excess of capital allowances 55,922 7,765
Utilisation of tax losses - 43,730
Adjustments to tax charge in respect of previous periods - (33,235 )
Under/(Over) provision - 150
Deferred taxation (54,693 ) (9,942 )
Brought forward Losses (9,054 ) -
Pension accrual reversal - (2,500 )
Carried forward losses - 9,054
Marginal relief (70 ) -
Total tax charge/(credit) 2,875 (43,027 )

7. DIVIDENDS
31.12.24 31.12.23
£    £   
Ordinary shares of £1 each
Interim 170,000 271,500

Law Distribution Limited (Registered number: 02915724)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


8. TANGIBLE FIXED ASSETS
Long Plant and
leasehold machinery Totals
£    £    £   
COST
At 1 January 2024 266,895 1,967,765 2,234,660
Additions - 121,488 121,488
Disposals - (206,882 ) (206,882 )
At 31 December 2024 266,895 1,882,371 2,149,266
DEPRECIATION
At 1 January 2024 170,075 960,830 1,130,905
Charge for year 12,105 319,638 331,743
Eliminated on disposal - (193,135 ) (193,135 )
At 31 December 2024 182,180 1,087,333 1,269,513
NET BOOK VALUE
At 31 December 2024 84,715 795,038 879,753
At 31 December 2023 96,820 1,006,935 1,103,755

9. FIXED ASSET INVESTMENTS
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
COST
At 1 January 2024 75 150,410 150,485
Disposals (75 ) - (75 )
At 31 December 2024 - 150,410 150,410
NET BOOK VALUE
At 31 December 2024 - 150,410 150,410
At 31 December 2023 75 150,410 150,485

10. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 299,909
NET BOOK VALUE
At 31 December 2024 299,909
At 31 December 2023 299,909

Law Distribution Limited (Registered number: 02915724)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


11. STOCKS
31.12.24 31.12.23
£    £   
Finished goods 5,667 7,114

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 2,774,857 2,758,716
Other debtors 345,217 358,543
Directors' current accounts 71,402 45,603
Tax - 32,911
Prepayments and accrued income 895,025 715,710
4,086,501 3,911,483

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts (see note 15) 84,475 209,048
Trade creditors 1,350,054 972,960
Tax 57,569 -
Social security and other taxes 140,295 124,654
VAT 334,869 253,690
Other creditors 147,141 157,520
Accruals and deferred income 1,155,563 1,367,930
3,269,966 3,085,802

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts (see note 15) 70,396 154,872

15. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.24 31.12.23
£    £   
Net obligations repayable:
Within one year 84,475 209,048
Between one and five years 70,396 154,872
154,871 363,920

16. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 219,938 274,632

Law Distribution Limited (Registered number: 02915724)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


16. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 274,632
Credit to Income Statement during year (54,694 )
Balance at 31 December 2024 219,938

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
75 Ordinary £1 75 75

18. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2024 2,561,675 25 2,561,700
Profit for the year 30,315 30,315
Dividends (170,000 ) (170,000 )
At 31 December 2024 2,421,990 25 2,422,015

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
J P T Law
Balance outstanding at start of year 45,603 81,577
Amounts advanced 25,799 296,867
Amounts repaid - (332,841 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 71,402 45,603

Advances during the year were interest free, unsecured and repayable on demand.