O'Neill Morgan Solicitors Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05958811 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2024

for

O'Neill Morgan Solicitors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M E Morgan

SECRETARY:

M E Morgan

REGISTERED OFFICE:

Prudential Buildings

63 St Petersgate

Stockport

Cheshire

SK1 1DH

REGISTERED NUMBER:

05958811 (England and Wales)

ACCOUNTANTS:

U&W Limited

Chartered Accountants

452 Manchester Road

Heaton Chapel

Stockport

SK4 5DL

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

3,790

5,053

3,790

5,053

CURRENT ASSETS

Stocks

297,000

341,000

Debtors

6

267,428

213,960

Cash at bank

-

12,383

564,428

567,343

CREDITORS

Amounts falling due within one year

7

199,509

194,338

NET CURRENT ASSETS

364,919

373,005

TOTAL ASSETS LESS CURRENT
LIABILITIES

368,709

378,058

CREDITORS

Amounts falling due after more than one
year

8

259,146

312,323

NET ASSETS

109,563

65,735

CAPITAL AND RESERVES

Called up share capital

9

3

Capital redemption reserve

10

1

Retained earnings

10

109,559

65,731

SHAREHOLDERS' FUNDS

109,563

65,735

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 21 July 2026 and were signed by:

M E Morgan - Director

1.	STATUTORY INFORMATION

O'Neill Morgan 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five 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.

Improvements to property

-

at varying rates

Fixtures and fittings

-

at varying rates

Computer equipment

-

at varying rates

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 4 (2023 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2023

and 31 October 2024

500,000

AMORTISATION

At 1 November 2023

and 31 October 2024

500,000

NET BOOK VALUE

At 31 October 2024

-

At 31 October 2023

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

COST

At 1 November 2023

and 31 October 2024

21,789

15,713

33,815

71,317

DEPRECIATION

At 1 November 2023

17,217

15,232

33,815

66,264

Charge for year

1,143

120

-

1,263

At 31 October 2024

18,360

15,352

33,815

67,527

NET BOOK VALUE

At 31 October 2024

3,429

361

-

3,790

At 31 October 2023

4,572

481

-

5,053

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

Trade debtors

240,188

186,520

Other debtors

27,240

27,440

267,428

213,960

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

Bank loans and overdrafts

3,536

-

Tax

45,262

30,440

Social security and other taxes

5,371

6,574

VAT

85,453

88,895

Other creditors

1,991

15,033

Accrued expenses

57,896

53,396

199,509

194,338

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.10.24

31.10.23

£

Bank loans

172,546

166,364

Directors' loan accounts

86,600

145,959

259,146

312,323

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.24

31.10.23

value:

£

3

Ordinary

£1

3

10.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

At 1 November 2023

65,731

1

65,732

Profit for the year

44,328

Dividends

(500

)

(500

)

At 31 October 2024

109,559

1

109,560