REGISTERED NUMBER: 07496676 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

G M Wilson Solicitors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J P Marris

Ms C Holmes

Ms R Kirkham

Ms N K Washington

S R McMaster

REGISTERED OFFICE:

1 Crown Court

Wakefield

WF1 2SU

REGISTERED NUMBER:

07496676 (England and Wales)

ACCOUNTANTS:

Enigma Accountants Ltd

Office B5, Croft Myl

West Parade

Halifax

West Yorkshire

HX1 2EQ

FIXED ASSETS

Intangible assets

4

444,448

500,004

Tangible assets

5

134,605

131,143

579,053

631,147

CURRENT ASSETS

Debtors

6

1,949,691

1,663,377

Cash at bank and in hand

816,956

594,725

2,766,647

2,258,102

CREDITORS

Amounts falling due within one year

7

499,030

525,426

NET CURRENT ASSETS

2,267,617

1,732,676

TOTAL ASSETS LESS CURRENT LIABILITIES

2,846,670

2,363,823

CREDITORS

Amounts falling due after more than one year

8

-

(8,839

)

PROVISIONS FOR LIABILITIES

(33,088

)

(32,099

)

NET ASSETS

2,813,582

2,322,885

CAPITAL AND RESERVES

Called up share capital

50

50

Capital redemption reserve

60

60

Retained earnings

2,813,472

2,322,775

2,813,582

2,322,885

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

J P Marris - Director

Ms C Holmes - Director

1.	STATUTORY INFORMATION

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

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion, costs incurred and when costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials as a proportion of total costs. Where the outcome cannot be reliably estimated revenue is recognised only to the extent of the expenses that it is probable will be recovered.

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of the net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is being amortised evenly over its estimated useful life of eighteen years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 15% 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2024 - 38 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

1,000,000

AMORTISATION

At 1 February 2024

499,996

Charge for year

55,556

At 31 January 2025

555,552

NET BOOK VALUE

At 31 January 2025

444,448

At 31 January 2024

500,004

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

336,648

Additions

46,756

At 31 January 2025

383,404

DEPRECIATION

At 1 February 2024

205,505

Charge for year

43,294

At 31 January 2025

248,799

NET BOOK VALUE

At 31 January 2025

134,605

At 31 January 2024

131,143

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

52,487

49,428

Amounts recoverable on contract

281,400

190,680

Other debtors

1,615,804

1,423,269

1,949,691

1,663,377

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

3,562

99,395

Trade creditors

19,077

6,901

Taxation and social security

458,145

399,356

Other creditors

18,246

19,774

499,030

525,426

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans

-

8,839

9.	LEASING AGREEMENTS

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

31.1.25

31.1.24

£

£

Within one year

73,441

3,060

Between one and five years

14,853

4,124

88,294

7,184

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Bank loans

3,562

108,234

Bank loans are secured by personal guarantees from J P Marris and C Holmes.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2025 and 31 January 2024:

31.1.25

31.1.24

£

£

J P Marris

Balance outstanding at start of year

552,930

206,807

Amounts advanced

243,247

486,435

Amounts repaid

(299,312

)

(140,312

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

496,865

552,930

Ms C Holmes

Balance outstanding at start of year

388,054

199,546

Amounts advanced

316,132

330,980

Amounts repaid

(200,312

)

(142,472

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

503,874

388,054

In addition a company controlled by J P Marris owed the company £113,018 (2023 £113,018) and a company controlled by C Holmes owed the company £100,000 (2023 £100,000)