REGISTERED NUMBER: 00009844 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE SHEFFIELD AND DISTRICT LAW SOCIETY

LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

C B Neal

Mrs L M Haythorne

D K Lau

Dr C H Young

REGISTERED OFFICE:

Law Society's Hall

8 Campo Lane

Sheffield

South Yorkshire

S1 2EF

REGISTERED NUMBER:

00009844 (England and Wales)

ACCOUNTANTS:

Procter and Co Accountants Ltd

Chartered Accountants

21A Sandygate Road

Sheffield

South Yorkshire

S10 5NG

BANKERS:

Royal Bank of Scotland

5 Church Street

Sheffield

S1 1HF

FIXED ASSETS

Tangible assets

4

5,673

5,875

Investments

5

10,080

8,955

15,753

14,830

CURRENT ASSETS

Debtors

6

14,801

7,480

Cash at bank

26,550

30,357

41,351

37,837

CREDITORS

Amounts falling due within one year

7

(32,437

)

(33,077

)

NET CURRENT ASSETS

8,914

4,760

TOTAL ASSETS LESS CURRENT LIABILITIES

24,667

19,590

PROVISIONS FOR LIABILITIES

(1,871

)

(1,657

)

NET ASSETS

22,796

17,933

RESERVES

Edward Bramley Prize Fund

8

300

300

Income and expenditure account

8

22,496

17,633

22,796

17,933

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 surplus or deficit 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

C B Neal - Director

1.	STATUTORY INFORMATION

The Sheffield and District Law Society Ltd is a private company, limited by guarantee , 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 as modified by the revaluation of certain assets.

Income

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Long leasehold

-

Straight line over the term of lease

Fixtures and fittings

-

33% on reducing balance and 10% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Investments in shares are included at fair value, based on the share price at the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

leasehold

fittings

Books

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

6,124

50,108

1,000

57,232

DEPRECIATION

At 1 January 2024

1,746

49,611

-

51,357

Charge for year

38

164

-

202

At 31 December 2024

1,784

49,775

-

51,559

NET BOOK VALUE

At 31 December 2024

4,340

333

1,000

5,673

At 31 December 2023

4,378

497

1,000

5,875

Books are stated at the estimated value in 1940. Subsequent purchases are charged to Income and Expenditure Account.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2024

8,955

Revaluations

1,125

At 31 December 2024

10,080

NET BOOK VALUE

At 31 December 2024

10,080

At 31 December 2023

8,955

Cost or valuation at 31 December 2024 is represented by:

Other

investments

£

Valuation in 2022

12,008

Valuation in 2023

(3,285

)

Valuation in 2024

1,125

Cost

232

10,080

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

13,554

6,360

Prepayments and accrued income

1,247

1,120

14,801

7,480

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

615

1,254

Corporation tax

5,038

4,557

Social security and other taxes

2,415

2,119

Other creditors

6,169

6,249

Accrued expenses

3,063

3,182

Deferred income

15,137

15,716

32,437

33,077

8.

RESERVES

Income

Edward

and

Bramley

expenditure

Prize

account

Fund

Totals

£

£

£

At 1 January 2024

17,633

300

17,933

Surplus for the year

4,863

4,863

At 31 December 2024

22,496

300

22,796

Included in retained earnings is £7,978 (2023 £7,067) of profits relating to the revaluation of investments.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Sheffield and District Law Society Ltd for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Sheffield and District Law Society Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Sheffield and District Law Society Ltd and state those matters that we have agreed to state to the Board of Directors of The Sheffield and District Law Society Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Sheffield and District Law Society Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Sheffield and District Law Society 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 The Sheffield and District Law Society Ltd. You consider that The Sheffield and District Law Society 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 The Sheffield and District Law Society 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.

Procter and Co Accountants Ltd

Chartered Accountants

21A Sandygate Road

Sheffield

South Yorkshire

S10 5NG

18 September 2025