ACCOUNTS - Final Accounts

Company registration number: 8699078

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 30 SEPTEMBER 2024

	LAW AND ECONOMICS CONSULTING ASSOCIATES LTD


LAW AND ECONOMICS CONSULTING ASSOCIATES LTD

COMPANY INFORMATION

Director	G Barker


Registered number	08699078


Registered office	4th Floor 95 Gresham Street
	London
	EC2V 7AB


Accountants	Menzies LLP
	Chartered Accountants
	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


LAW AND ECONOMICS CONSULTING ASSOCIATES LTD REGISTERED NUMBER:08699078

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2024

		2024		2023 Restated
Note		£		£

Fixed assets
Tangible assets	4		1,825		307
			1,825		307
Current assets
Debtors: amounts falling due within one year	5	262,629		65,048
Cash at bank and in hand		138,448		115
		401,077		65,163
Creditors: amounts falling due within one year	6	(509,329)		(177,588)
Net current liabilities			(108,252)		(112,425)
Total assets less current liabilities			(106,427)		(112,118)

Net liabilities			(106,427)		(112,118)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(106,527)	(112,218)
	(106,427)	(112,118)

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LAW AND ECONOMICS CONSULTING ASSOCIATES LTD REGISTERED NUMBER:08699078

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 SEPTEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G Barker

Director

Date: 30 September 2025

The notes on pages 3 to 6 form part of these financial statements.

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LAW AND ECONOMICS CONSULTING ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.	General information

Law and Economics Consulting Associates Limited is a private company, limited by shares, registered in England and Wales, company registration number 08699078. The registered office and principal place of business is stated in the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

As at the year end the company had net liabilities of £107,232 (2023: £112,118). The director has confirmed that they will continue to provide financial support so that the company will be able to meet its liabilities as they falldue.
IThe director has taken measures in order to safeguard cashflow,customers and supply chain that they believe should enable them to continue in operational existence.Therefore, it is the director’s opinion that the going concern basis of preparation continues to be appropriate.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is generated by providing consultancy services and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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LAW AND ECONOMICS CONSULTING ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using reducing balance method.

Depreciation is provided on the following basis:

Computer equipment

33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

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LAW AND ECONOMICS CONSULTING ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.	Tangible fixed assets

		Equipment
		£
	Cost or valuation
	At 1 October 2023	2,713
	Additions	1,665
	At 30 September 2024	4,378
	Depreciation
	At 1 October 2023	2,406
	Charge for the year on owned assets	147
	At 30 September 2024	2,553
	Net book value
	At 30 September 2024	1,825
	At 30 September 2023	307

Debtors

					2024	2023 Restated
					£	£


Trade debtors	189,264	-
Other debtors	73,365	65,048
	262,629	65,048

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LAW AND ECONOMICS CONSULTING ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.	Creditors: Amounts falling due within one year
		2024	2023 Restated
		£	£

Trade creditors	-	4,943
Corporation tax	19,195	-
Other creditors	309,203	136,127
Accruals and deferred income	180,931	36,518
	509,329	177,588

7.	Related party transactions

Within other creditors, there is a balance of £237,156 (2023: £70,703) owed to a company under common control.
Within other creditors, there is a balance of £22,047 owed to a related party. The balance is interest free and repayable on demand.
Within other debtors, there is a balance of £11,316 (2024: £5,131) due from a related party. The balance is interest free and repayable on demand.

8.	Prior year adjustment

During the year ended 30 September 2024, it was identified that transactions relating to director loan account have been included in sales in prior years. The prior year adjustment had increased the brought forward retained earnings by £108,427.

9.	Transactions with directors

As at 30 September 2024, within other debtors there is a balance owed from the director of £33,245 by the company. Amounts advanced during the year totalled £167,935. The amounts repaid during the year totalled £69,735. Interest charged during the year was £469 and the balance is repayable on demand.

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