Benchmark Law Accountants Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC369867

Benchmark Law Accountants Ltd

Filleted Unaudited Financial Statements

31 December 2024

Benchmark Law Accountants Ltd

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Benchmark Law Accountants Ltd

Officers and Professional Advisers

The board of directors	Mr M Murphy (Appointed 10 July 2024)
	Mr A Murphy

Registered office	Suite 28 Bonnington Road
	2 Anderson Place
	Edinburgh
	EH6 5NP

Accountants	A Plus Accountants Limited
	Accountants
	10 Canberra House
	Corbygate Business Park
	Corby
	Northants
	NN17 5JG

Benchmark Law Accountants Ltd

Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Benchmark Law Accountants Ltd

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Benchmark Law Accountants Ltd for the year ended 31 December 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Benchmark Law Accountants Ltd, as a body, in accordance with the terms of our engagement letter dated 9 August 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Benchmark Law Accountants Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Benchmark Law Accountants Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Benchmark Law Accountants Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Benchmark Law Accountants Ltd. You consider that Benchmark Law Accountants Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Benchmark Law Accountants Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

A Plus Accountants Limited Accountants

10 Canberra House Corbygate Business Park Corby Northants NN17 5JG

Benchmark Law Accountants Ltd

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		5,960	5,201

Current assets

Debtors	6	26,420	40,861
Cash at bank and in hand		40,932	40,333
		--------	--------
		67,352	81,194

Creditors: amounts falling due within one year	7	56,649		55,299
		--------		--------
Net current assets			10,703	25,895
			--------	--------
Total assets less current liabilities			16,663	31,096

Creditors: amounts falling due after more than one year	8	24,368	30,866
		--------	--------
Net (liabilities)/assets		( 7,705)	230
		--------	--------

Capital and reserves

Called up share capital		52	52
Capital redemption reserve	9	49	49
Profit and loss account	9	( 7,806)	129
		-------	----
Shareholders (deficit)/funds		( 7,705)	230
		-------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Benchmark Law Accountants Ltd

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 22 September 2025 , and are signed on behalf of the board by:

Mr A Murphy

Director

Company registration number: SC369867

Benchmark Law Accountants Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Suite 28 Bonnington Road, 2 Anderson Place, Edinburgh, EH6 5NP.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and 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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures, Fittings & Equipment	-	33% reducing balance

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses. 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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 January 2024	24,641	24,641
Additions	3,695	3,695
	--------	--------
At 31 December 2024	28,336	28,336
	--------	--------
Depreciation
At 1 January 2024	19,440	19,440
Charge for the year	2,936	2,936
	--------	--------
At 31 December 2024	22,376	22,376
	--------	--------
Carrying amount
At 31 December 2024	5,960	5,960
	--------	--------
At 31 December 2023	5,201	5,201
	--------	--------

6. Debtors

	2024	2023
	£	£
Trade debtors	18,017	17,998
Other debtors	8,403	22,863
	--------	--------
	26,420	40,861
	--------	--------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	3,574	3,215
Corporation tax	32,017	22,421
Social security and other taxes	13,749	15,061
Other creditors	7,309	14,602
	--------	--------
	56,649	55,299
	--------	--------

Included within other creditors is an amount of £6,498 (2023: £14,365) relating to a loan taken out by the Company in 2023. This amount is interest bearing and the director, A Murphy, has personally guaranteed this loan.

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	24,368	30,866
	--------	--------

Included within other creditors is an amount of £24,368 (2023: £30,866) relating to a loan taken out by the Company in 2023. This amount is interest bearing and the director, A Murphy, has personally guaranteed this loan.

9. Reserves

Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.

10. Transactions with the director

During the year the directors entered into the following advances and credits with the company:

	2024	2023
	£	£
Balance brought forward	17,422	(24)
Advances/ (credits) to the director	21,729	17,914
Amounts repaid	(35,407)	(468)
	--------	--------
Balance outstanding	3,744	17,422
	--------	--------

The amounts outstanding at the year end are interest free and repayable on demand.