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Registration number: 08178217

Walker Family Law Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Walker Family Law Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

Walker Family Law Limited

(Registration number: 08178217)
Statement of Financial Position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

69,619

50,427

Current assets

 

Debtors

5

692,914

647,926

Cash at bank and in hand

 

244,397

348,670

 

937,311

996,596

Creditors: Amounts falling due within one year

6

(290,498)

(173,455)

Net current assets

 

646,813

823,141

Total assets less current liabilities

 

716,432

873,568

Provisions for liabilities

(13,228)

(13,695)

Net assets

 

703,204

859,873

Capital and reserves

 

Called up share capital

10

10

Profit and loss account

703,194

859,863

Shareholders' funds

 

703,204

859,873

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 16 July 2025
 


Mr I Walker
Director

 

Walker Family Law Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as Family Law & Mediation Limited.

The address of its registered office is:
Vantage Point
Pynes Hill
Exeter
Devon
EX2 5FD

Principal activity

The principal activity of the company is family law and mediation.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

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

 

Walker Family Law Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements 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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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 income 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

Walker Family Law Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Depreciation

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:

Asset class

Depreciation method and rate

Equipment

3 years straight line

Fixtures and fittings

15% reducing balance

Practice Management System

5 years straight line

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Leases

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.

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 37 (2023 - 35).

 

Walker Family Law Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Tangible assets

Fixtures, fittings and equipment
£

Plant and machinery
£

Practice Management System
£

Total
£

Cost or valuation

At 1 December 2023

67,456

64,361

-

131,817

Additions

67

19,493

22,978

42,538

At 30 November 2024

67,523

83,854

22,978

174,355

Depreciation

At 1 December 2023

29,322

52,068

-

81,390

Charge for the year

5,734

13,016

4,596

23,346

At 30 November 2024

35,056

65,084

4,596

104,736

Carrying amount

At 30 November 2024

32,467

18,770

18,382

69,619

At 30 November 2023

38,134

12,293

-

50,427

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

490,002

448,644

Other debtors

 

133,770

155,532

Prepayments

 

30,189

43,750

Accrued income

 

34,650

-

Income tax asset

4,303

-

 

692,914

647,926

 

Walker Family Law Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

105,934

-

Taxation and social security

133,895

105,931

Accruals and deferred income

50,365

63,471

Other creditors

304

4,053

290,498

173,455

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

51,202

72,379

Later than one year and not later than five years

-

40,193

51,202

112,572

 

Walker Family Law Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

9

Related party transactions

Transactions with the director

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Director

155,532

134,238

(156,000)

133,770

         
       

 

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Director

119,311

157,001

(120,780)

155,532

 

Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.