ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Registered number: 07060326

CLS Law Limited

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

Fletcher & Partners

Chartered Accountants


CLS Law Limited REGISTERED NUMBER:07060326

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		2,296		-
			2,296		-
Current assets
Debtors: amounts falling due within one year	5	30,923		3,977
Cash at bank and in hand		117,117		156,038
		148,040		160,015
Creditors: amounts falling due within one year	6	(5,021)		(3,115)
Net current assets			143,019		156,900
Total assets less current liabilities			145,315		156,900

Net assets			145,315		156,900

Capital and reserves
Called up share capital	7	1	1
Profit and loss account		145,314	156,899
		145,315	156,900

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Ms C L Slettengren

Director

Date: 31 July 2025

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CLS Law Limited

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

CLS Law Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Crown Chambers, Bridge Street, Salisbury, Wiltshire, SP1 2LZ. Its principal place of business is Shute Farm, Donhead St Mary, Shaftesbury, SP7 9DG.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.6

Creditors

Short term creditors are measured at the transaction price.

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CLS Law Limited

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2024	587
	Additions	2,666
	At 31 December 2024	3,253
	Depreciation
	At 1 January 2024	587
	Charge for the year on owned assets	370
	At 31 December 2024	957
	Net book value
	At 31 December 2024	2,296
	At 31 December 2023	-

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CLS Law Limited

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Other debtors	30,518	572
Prepayments and accrued income	405	1,507
Tax recoverable	-	1,898
	30,923	3,977

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Corporation tax	2,061	-
Accruals and deferred income	2,960	3,115
	5,021	3,115

7.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1 (2023 - 1) Ordinary share of £1	1	1

Not later than 1 year	2,712	8,137
Later than 1 year and not later than 5 years	-	2,712
	2,712	10,849

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CLS Law Limited

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Transactions with directors

During the year, the company advanced £120,000 to the director. This amount, along with interest charged at the HMRC official rate, was fully repaid by the year end.
Additionally, the company advanced a further £30,000 to the director during the year. Interest was charged at the HMRC official rate, but no repayments were made and no amounts were written off.
Summary: The company advanced a total of £150,000 to the director. Of this, £120,000 was repaid, and no amount was written off.

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