Company No:
Contents
| DIRECTORS | Elizabeth Sarah Comley |
| Nils Ian Stoesser |
| REGISTERED OFFICE | First Floor |
| Lee House | |
| 90 Great Bridgewater Street | |
| Manchester | |
| M1 5JW | |
| United Kingdom |
| COMPANY NUMBER | 05107527 (England and Wales) |
The directors present their annual report on the affairs of the Company, together with the financial statements, for the financial year ended 31 December 2024.
PRINCIPAL ACTIVITIES
GOING CONCERN
REVIEW OF THE BUSINESS
The Company did not trade during the current financial year or the preceding financial year.
The net current liability position of the Company as at the financial year end amounted to £37 thousand (2023: £37 thousand).
The net liability position of the Company as at the financial year end amounted to £37 thousand (2023: £37 thousand).
DIRECTORS
The directors, who served during the financial year and to the date of this report except as noted, were as follows:
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EXEMPTION FROM PREPARING A STRATEGIC REPORT
The Company has taken advantage of the exemption in Section 414 A(2) of the Companies Act 2006 from the requirement to prepare a Strategic Report and in preparing the Directors' Report on the basis that it would be entitled to prepare financial statements for the year in accordance with the small companies regime but for being a member of an ineligible group.
Approved by the Board of Directors and signed on its behalf by:
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Nils Ian Stoesser
Director |
| Note | 2024 | 2023 | ||
| £'000 | £'000 | |||
| Current assets | ||||
| Debtors | 5 |
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| 1,875 | 1,875 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current liabilities | (37) | (37) | ||
| Total assets less current liabilities | (37) | (37) | ||
| Net liabilities | (37) | (37) | ||
| Capital and reserves | 7 | |||
| Called-up share capital |
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| Profit and loss account | (
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| Total shareholder's deficit | (37) | (37) |
Directors' responsibilities:
The financial statements of Abstract Legal Holdings Limited (registered number:
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Nils Ian Stoesser
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Abstract Legal Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is First Floor Lee House, 90 Great Bridgewater Street, Manchester, M1 5JW, United Kingdom.
The financial statements have been prepared under the historical cost convention, and in accordance with Financial Reporting Standard 102 (FRS 102) applicable in the UK and Republic of Ireland issued by the Financial Reporting Council and the requirements of the Companies Act 2006.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £'000 except where otherwise indicated.
The Company's ultimate parent undertaking, Slater and Gordon UK Holdings Limited includes the Company in its consolidated financial statements, see note 9 for further details. In these financial statements, the Company is considered to be a qualifying entity (for the purposes of this FRS) and has applied the exemptions available under FRS 102 in respect of the following disclosures:
- Reconciliation of the number of shares outstanding from the beginning to end of the period;
- Cash Flow Statement and related notes; and
- Key Management Personnel compensation.
The directors have assessed the balance sheet and likely future cash flows at the date of approving these financial statements. Given the Company is dormant and has no external liabilities, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Group accounts exemption s400
The Company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the Company as an individual entity and not about its group.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the financial year in which the estimate is revised if the revision affects only that financial year, or in the financial year of the revision and future financial years if the revision affects both current and future financial years.
The directors do not consider that any critical judgements have been made in the application of the Company's accounting policies and no key sources of estimation uncertainty have been identified that have a significant risk of causing a material misstatement to the carrying amount of assets and liabilities within the financial year.
| 2024 | 2023 | ||
| Number | Number | ||
| The average monthly number of employees (including directors) was: |
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There were no wages and salaries costs in the current or prior year.
Investments in shares
| Name of entity | Registered office | Principal activity | Class of shares |
Ownership 31.12.2024 |
Ownership 31.12.2023 |
Held |
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First Floor, Lee House, 90 Great Bridgewater Street, Manchester, England, M1 5JW | Dormant |
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Direct |
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First Floor, Lee House, 90 Great Bridgewater Street, Manchester, England, M1 5JW | Non-Legal |
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Direct |
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First Floor, Lee House, 90 Great Bridgewater Street, Manchester, England, M1 5JW | Dormant |
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Direct |
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First Floor, Lee House, 90 Great Bridgewater Street, Manchester, England, M1 5JW | Dormant |
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Direct |
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First Floor, Lee House, 90 Great Bridgewater Street, Manchester, England, M1 5JW | Dormant |
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Indirect |
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Floor, Lee House, 90 Great Bridgewater Street, Manchester, England, M1 5JW | Dormant |
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Indirect |
| 2024 | 2023 | ||
| £'000 | £'000 | ||
| Amounts owed by related parties (note 8) |
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| 2024 | 2023 | ||
| £'000 | £'000 | ||
| Amounts owed to related parties (note 8) |
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| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| Presented as follows: | |||
| Called-up share capital presented as equity | 67,000 | 67,000 |
The profit and loss reserve represents cumulative profits or losses, net of dividends paid and other adjustments.
The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.
No directors' remuneration was paid during the current or prior year.
The immediate parent is Slater & Gordon (UK) 1 Limited, a company registered in England and Wales.
The ultimate parent undertaking and controlling party is Slater and Gordon UK Holdings Limited, a company incorporated in England and Wales and is both the smallest and largest parent company preparing group financial statements. Copies of the consolidated accounts of Slater and Gordon UK Holdings Limited can be obtained from First Floor, Lee House, 90 Great Bridgewater Street, Manchester, M1 5JW.