Bennetts Solicitors Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 9

Bennetts Solicitors Limited

(Registration number: 07666307)
Statement of Financial Position as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	1,527	2,261
Current assets
Debtors	6	326,897	360,881
Cash at bank and in hand		326,062	240,831
		652,959	601,712
Creditors: Amounts falling due within one year	7	(198,553)	(190,883)
Net current assets		454,406	410,829
Total assets less current liabilities		455,933	413,090
Provisions for liabilities		(382)	(565)
Net assets		455,551	412,525
Capital and reserves
Called up share capital	8	40	40
Capital redemption reserve		4,020	4,020
Profit and loss account		451,491	408,465
Shareholders' funds		455,551	412,525

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 27 May 2026 and signed on its behalf by:
 

C I Smith Director

Bennetts Solicitors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Barley Wood Stables
Long Lane
Wrington
Somerset
BS40 5SA

Principal activity

The principal activity of the company is that of Solicitors, Attorneys & Notaries.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Bennetts Solicitors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover represents the amounts (including disbursements and excluding VAT) derived from the provision of legal services during the year.

Services provided, which at the balance sheet date have not been billed, have been recognised as income.

The value of recoverable unbilled services recognised is included in debtors.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Short leasehold property	Over the lease term
Fixtures, fittings and equipment	3 years straight line or 25% of written down value

Bennetts Solicitors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

2	Accounting policies (continued)

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5 years straight line on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Bennetts Solicitors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

2	Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2024 - 15).

Bennetts Solicitors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 September 2024	247,746	247,746
At 31 August 2025	247,746	247,746
Amortisation
At 1 September 2024	247,746	247,746
At 31 August 2025	247,746	247,746
Carrying amount
At 31 August 2025	-	-

5	Tangible assets

	Short leasehold improve- ments £	Fixtures and fittings £	Total £
Cost or valuation
At 1 September 2024	10,040	45,686	55,726
Additions	-	1,100	1,100
At 31 August 2025	10,040	46,786	56,826
Depreciation
At 1 September 2024	10,040	43,425	53,465
Charge for the year	-	1,834	1,834
At 31 August 2025	10,040	45,259	55,299
Carrying amount
At 31 August 2025	-	1,527	1,527
At 31 August 2024	-	2,261	2,261

Bennetts Solicitors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

6

Debtors

	2025 £	2024 £
Trade debtors	226,763	242,671
Other debtors	85,336	102,391
Prepayments	14,798	15,819
	326,897	360,881

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	2,763	789
Taxation and social security	168,688	159,295
Accruals and deferred income	14,601	21,174
Other creditors	12,501	9,625
	198,553	190,883

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	40	40	40	40
A of £1 each	-	-	-	-
E of £1 each	-	-	-	-
	40	40	40	40