Bisley Law Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Bisley Law Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08264866 . The registered office is 1 Chancery Lane, London, WC2A 1LF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinar course of the company's activities. Turnover is shown net of sales/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 econimic benifits will flow to the entity;

and specific criteria have been met for each of the company's activities.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

25% straight line

2.4. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Classification of Financial Liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic Financial Liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Bisley Law Limited

Notes to the Financial Statements (continued)

For the Period 1 April 2023 to 29 September 2024

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Equity Instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at he discretion of the company.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 3 (2023: 3)

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 April 2023	16,036
Disposals	(15,204 )

As at 29 September 2024	832

Depreciation
As at 1 April 2023	15,342
Provided during the period	138
Disposals	(15,203 )

As at 29 September 2024	277

Net Book Value
As at 29 September 2024	555

As at 1 April 2023	694

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Bisley Law Limited

Notes to the Financial Statements (continued)

For the Period 1 April 2023 to 29 September 2024

5. Debtors

	29 September 2024	31 March 2023
	£	£
Due within one year
Trade debtors	151,303	149,488
Prepayments and accrued income	27,747	51,492
Other debtors	-	9
VAT	14,911	-
Other taxes and social security	-	1,139
Directors' loan accounts	2,202	474,480
Amounts owed by other participating interests	657,913	-

	854,076	676,608

6. Creditors: Amounts Falling Due Within One Year

	29 September 2024	31 March 2023
	£	£
Trade creditors	-	7,166
Corporation tax	91,985	93,553
Other taxes and social security	934	-
VAT	-	12,510
Other creditors	-	808
Accruals and deferred income	2,250	3,357
Directors' loan accounts	17,472	-

	112,641	117,394

7. Share Capital

	29 September 2024	31 March 2023
	£	£
Allotted, Called up and fully paid	102	102

8. Capital Commitments

	29 September 2024	31 March 2023
	£	£
At the end of the period	-	1,012

At the end of the period, the company had capital commitments contracted for but not provided in these financial statements

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Bisley Law Limited

Notes to the Financial Statements (continued)

For the Period 1 April 2023 to 29 September 2024

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2023	Amounts advanced	Amounts repaid	Amounts written off	As at 29 September 2024
	£	£	£	£	£
Mr Caspar Gibbons	260,328	85,029	347,558	-	(2,201 )
Mr Mark Henley	214,152	113,960	310,640	-	17,472

The above loan is unsecured and repayable on demand. Interest is charged at the official rate.

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		29 September 2024		31 March 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		555		694

			555		694
CURRENT ASSETS
Debtors	5	854,076		676,608
Cash at bank and in hand		248,420		356,523

		1,102,496		1,033,131
Creditors: Amounts Falling Due Within One Year	6	(112,641 )		(117,394 )

NET CURRENT ASSETS (LIABILITIES)			989,855		915,737

TOTAL ASSETS LESS CURRENT LIABILITIES			990,410		916,431

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(132 )

NET ASSETS			990,410		916,299

CAPITAL AND RESERVES
Called up share capital	7		102		102
Profit and Loss Account			990,308		916,197

SHAREHOLDERS' FUNDS			990,410		916,299

Mr Caspar Gibbons Director	Mr Mark Henley Director
12/09/2025