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Company Registration No. 11895381 (England and Wales)
Everest Law Solicitors Limited Unaudited accounts for the year ended 31 March 2025
Everest Law Solicitors Limited Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
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Everest Law Solicitors Limited Company Information for the year ended 31 March 2025
Director
Raju Thapa
Company Number
11895381 (England and Wales)
Registered Office
210 Northfield Avenue Northfield London W13 9SJ England
Accountants
AA Tax Serve Pentax House South Hill Avenue South Harrow Middlesex HA20DU
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Everest Law Solicitors Limited for the year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Everest Law Solicitors Limited for the year ended 31 March 2025 as set out on pages 5 - 10 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Everest Law Solicitors Limited, as a body, in accordance with the terms of our engagement letter dated 1 April 2020. Our work has been undertaken solely to prepare for your approval the accounts of Everest Law Solicitors Limited and state those matters that we have agreed to state to the Board of Directors of Everest Law Solicitors Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Everest Law Solicitors Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Everest Law Solicitors Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Everest Law Solicitors Limited. You consider that Everest Law Solicitors Limited 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 accounts of Everest Law Solicitors Limited. 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 accounts.
AA Tax Serve Chartered Certified Accountants Pentax House South Hill Avenue South Harrow Middlesex HA20DU 17 September 2025
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Everest Law Solicitors Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
69,077
83,563
Current assets
Debtors
5
1,916,561
1,864,565
Cash at bank and in hand
1,682,739
1,280,555
3,599,300
3,145,120
Creditors: amounts falling due within one year
6
(288,309)
(327,481)
Net current assets
3,310,991
2,817,639
Net assets
3,380,068
2,901,202
Capital and reserves
Called up share capital
100
100
Share premium
300,000
300,000
Profit and loss account
3,079,968
2,601,102
Shareholders' funds
3,380,068
2,901,202
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 September 2025 and were signed on its behalf by
Raju Thapa Director Company Registration No. 11895381
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Everest Law Solicitors Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Everest Law Solicitors Limited is a private company, limited by shares, registered in England and Wales, registration number 11895381. The registered office is 210 Northfield Avenue, Northfield, London, W13 9SJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible fixed assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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Everest Law Solicitors Limited Notes to the Accounts for the year ended 31 March 2025
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fittings fixtures and equipment - 15% reducing balance method Plant and machinery - 15% reducing balance method If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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Everest Law Solicitors Limited Notes to the Accounts for the year ended 31 March 2025
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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Everest Law Solicitors Limited Notes to the Accounts for the year ended 31 March 2025
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 April 2024
52,000
14,014
52,198
118,212
Additions
-
3,240
-
3,240
At 31 March 2025
52,000
17,254
52,198
121,452
Depreciation
At 1 April 2024
7,800
6,019
20,830
34,649
Charge for the year
6,630
6,391
4,705
17,726
At 31 March 2025
14,430
12,410
25,535
52,375
Net book value
At 31 March 2025
37,570
4,844
26,663
69,077
At 31 March 2024
44,200
7,995
31,368
83,563
5
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
28,363
16,517
Other debtors
1,888,198
1,848,048
1,916,561
1,864,565
6
Creditors: amounts falling due within one year
2025
2024
£
£
VAT
36,623
38,074
Trade creditors
5,134
5,134
Taxes and social security
234,529
274,792
Other creditors
513
1,831
Loans from directors
3,860
-
Accruals
7,650
7,650
288,309
327,481
7
Loans to directors
Brought Forward
Advance/ credit
Repaid
Carried Forward
£
£
£
£
Raju Thapa
Directors advances, credits and guarantees
(150)
117,000
120,710
(3,860)
(150)
117,000
120,710
(3,860)
The loans from director is interest free and repayable on demand.
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Everest Law Solicitors Limited Notes to the Accounts for the year ended 31 March 2025
8
Transactions with related parties
Everest Blue Properties Limited and Rhiva Properties Ltd is related party by virtue of 100% shareholding of the Director Raju Thapa. Other Debtor includes Loan to Everest Blue Properties Limited £888,198 and to Rhiva properties Limited £1,000,000 During the year, company paid £75,000 (2024: £50,000) dividend to the directors.
9
Controlling party
By virtue of shareholding, the company is controlled by Mr. Raju Thapa.
10
Average number of employees
During the year the average number of employees was 10 (2024: 10).
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