REGISTERED NUMBER: 05872793 (England and Wales)

Financial Statements for the Year Ended 31st December 2024

for

One Essex Court Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W R Davies

A R F Lenon

S B Elliott

A I McLeod

SECRETARY:

J E Huxley

REGISTERED OFFICE:

One Essex Court

Temple

London

EC4Y 9AR

REGISTERED NUMBER:

05872793 (England and Wales)

ACCOUNTANTS:

Sampson Fielding Ltd

34 - 35 Clarges Street

Mayfair

London

W1J 7EJ

FIXED ASSETS

Tangible assets

4

1,829,816

271,410

Investments

5

100

100

1,829,916

271,510

CURRENT ASSETS

Debtors

6

2,286,012

2,538,104

Cash at bank and in hand

2,243,361

2,159,200

4,529,373

4,697,304

CREDITORS

Amounts falling due within one year

7

1,929,270

1,858,278

NET CURRENT ASSETS

2,600,103

2,839,026

TOTAL ASSETS LESS CURRENT LIABILITIES

4,430,019

3,110,536

PROVISIONS FOR LIABILITIES

24,849

39,282

NET ASSETS

4,405,170

3,071,254

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

4,405,166

3,071,250

SHAREHOLDERS' FUNDS

4,405,170

3,071,254

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th September 2025 and were signed on its behalf by:

W R Davies - Director

1.	STATUTORY INFORMATION

One Essex Court Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents contributions receivable in respect of services provided to members of the chambers during the year net of value added tax. Turnover excludes amounts received by the company where it acts as an agent for the members of the chambers.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

Pensions

The company provides access to a stakeholder pension scheme and remits employee contributions to the pension scheme provider.

Funds held on trust

The company receives monies in respect of fees due to barristers, which it holds in a separate account on trust for those barristers. The funds are not treated as an asset of the company and are not reported in the company's balance sheet.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 37 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1st January 2024

635,832

574,789

371,020

1,581,641

Additions

1,980,134

-

-

1,980,134

At 31st December 2024

2,615,966

574,789

371,020

3,561,775

DEPRECIATION

At 1st January 2024

541,222

480,733

288,276

1,310,231

Charge for year

362,430

29,185

30,113

421,728

At 31st December 2024

903,652

509,918

318,389

1,731,959

NET BOOK VALUE

At 31st December 2024

1,712,314

64,871

52,631

1,829,816

At 31st December 2023

94,610

94,056

82,744

271,410

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2024

and 31st December 2024

100

NET BOOK VALUE

At 31st December 2024

100

At 31st December 2023

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

1,386,649

1,795,209

Prepayments and other debtors

899,363

742,895

2,286,012

2,538,104

Trade debtors represent amounts invoiced for barrister contributions in December 2024 and received in January 2025.

Prepayment and other debtors include:

2024

2023

Prepaid expenses

£723,596

£612,611

Loans to Barristers

£93,406

£7,167

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade creditors

733,429

575,803

Amounts owed to group undertakings

43,876

28,196

Taxation and social security

749,035

950,968

Other creditors

402,930

303,311

1,929,270

1,858,278

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/24

31/12/23

£

£

Within one year

622,678

521,326

The above figures include property leases.