L.T. Byrne Law Searchers Limited iXBRL

Company Registration Number: NI040553

L.T. Byrne Law Searchers Limited

Unaudited Financial Statements

for the financial year ended 31 March 2025

L.T. Byrne Law Searchers Limited

DIRECTORS AND OTHER INFORMATION


Directors	Liam Byrne
	Kerry Byrne


Company Secretary	Liam Byrne


Company Registration Number	NI040553


Registered Office	4 Whitewell Road
	Newtownabbey
	Antrim
	BT36 7ES


Business Address	4 Whitewell Road
	Newtonwabbey
	Belfast
	Antrim
	BT367ES


Accountants	Quarter
	Chartered Accountants
	St. Anne's House
	15 Church Street
	Cathedral Quarter
	Belfast
	BT1 1PG


Bankers	First Trust Bank
	35 University Road
	Belfast
	BT7 1ND

L.T. Byrne Law Searchers Limited

CHARTERED ACCOUNTANTS REPORT

to the Board of Directors on the Compilation of the unaudited financial statements of L.T. Byrne Law Searchers Limited

for the financial year ended 31 March 2025

In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 March 2025 as set out on pages to which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.

This report is made solely to the Board of Directors of L.T. Byrne Law Searchers Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.

You have acknowledged on the Statement of Financial Position for the year ended 31 March 2025 your duty to ensure that L.T. Byrne Law Searchers Limited 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 L.T. Byrne Law Searchers Limited. You consider that L.T. Byrne Law Searchers Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of L.T. Byrne Law Searchers Limited. For this reason, we have not verified the adequacy, 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.

__________________________________

QUARTER

Chartered Accountants

St. Anne's House

15 Church Street

Cathedral Quarter

Belfast

BT1 1PG

27 May 2025

L.T. Byrne Law Searchers Limited

Company Registration Number: NI040553

STATEMENT OF FINANCIAL POSITION

as at 31 March 2025

		2025	2024
	Notes	£	£

Non-Current Assets

Property, plant and equipment

9,154

12,205

Financial assets

2,972,629

2,879,277

─────────

Current Assets

Receivables

1,074,683

848,665

Cash and cash equivalents

1,864,170

1,517,608

─────────

2,938,853

2,366,273

─────────

Payables: amounts falling due within one year

(261,305)

(204,823)

─────────

Net Current Assets

2,677,548

2,161,450

─────────

Total Assets less Current Liabilities

5,659,331

5,052,932

═════════

Equity

Called up share capital

Retained earnings

5,659,329

5,052,930

─────────

Equity attributable to owners of the company

5,659,331

5,052,932

═════════

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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 27 May 2025 and signed on its behalf by



________________________________
Liam Byrne
Director

L.T. Byrne Law Searchers Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2025

General Information

L.T. Byrne Law Searchers Limited is a company limited by shares incorporated in Northern Ireland.. 4 Whitewell Road, Newtownabbey, Antrim, BT36 7ES is the registered office, which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 31 March 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Revenue

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Property, plant and equipment and depreciation

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery

25% Reducing Balance

Fixtures, fittings and equipment

25% Reducing Balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Financial assets

Investments are stated at cost, less any provision for impairment. Any profit or losses received from investments are included in the Profit and Loss Account.

Trade and other receivables

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other payables

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including directors, during the financial year was 11, (2024 - 8).

2025

2024

Number

Number

Average number of employees

═════════


4.	Property, plant and equipment
		Plant and	Fixtures,	Total
		machinery	fittings and
			equipment
		£	£	£
	Cost or Valuation
	At 1 April 2024	3,498	36,013	39,511
		─────────	─────────	─────────

	At 31 March 2025	3,498	36,013	39,511
		─────────	─────────	─────────
	Depreciation
	At 1 April 2024	3,498	23,808	27,306
	Charge for the financial year	-	3,051	3,051
		─────────	─────────	─────────
	At 31 March 2025	3,498	26,859	30,357
		─────────	─────────	─────────
	Carrying amount
	At 31 March 2025	-	9,154	9,154
		═════════	═════════	═════════
	At 31 March 2024	-	12,205	12,205
		═════════	═════════	═════════


5.	Financial fixed assets
		Other	Total
		investments

	Investments	£	£
	Cost or Valuation
	At 1 April 2024	2,879,277	2,879,277
	Additions	93,352	93,352
		─────────	─────────
	At 31 March 2025	2,972,629	2,972,629
		─────────	─────────
	Carrying amount
	At 31 March 2025	2,972,629	2,972,629
		═════════	═════════
	At 31 March 2024	2,879,277	2,879,277
		═════════	═════════


6.	Receivables	2025	2024
		£	£

	Trade receivables	149,061	38,331
	Directors' current accounts (Note 10)	702,010	614,195
	Taxation (Note 8)	223,612	193,975
	Prepayments and accrued income	-	2,164
		─────────	─────────
		1,074,683	848,665
		═════════	═════════


7.	Payables	2025	2024
	Amounts falling due within one year	£	£

	Taxation (Note 8)	258,305	181,749
	Other creditors	-	20,074
	Accruals	3,000	3,000
		─────────	─────────
		261,305	204,823
		═════════	═════════


8.	Taxation	2025	2024
		£	£

	Receivables:
	Corporation tax	223,612	193,975
		═════════	═════════
	Payables:
	VAT	17,688	19,092
	Corporation tax	234,388	159,035
	PAYE / NI	6,229	3,622
		─────────	─────────
		258,305	181,749
		═════════	═════════


9.	Income Statement

		2025	2024
		£	£

	At 1 April 2024	5,052,930	4,604,160
	Profit for the financial year	607,399	450,770
	Payment of dividends	(1,000)	(2,000)
		─────────	─────────
	At 31 March 2025	5,659,329	5,052,930
		═════════	═════════

10.

Directors' advances, credits and guarantees

At 31 March 2024 £614,195 was owed by the directors of L.T. Byrne Law Searchers Limited. Net transaction during the period was £87,815. At 31 March 2025 £702,010 was owed by the directors of L.T. Byrne Law Searchers Limited.

The interest on the loan is charged at 2.25% and the loan is repayable on demand.

Directors remuneration of £87,708 was paid during the year.