Company Registration No. 09905135 (England and Wales)
Frank Smith & Co Solicitors Limited
Unaudited accounts
for the year ended 31 March 2026
Frank Smith & Co Solicitors Limited
Unaudited accounts
Contents
Frank Smith & Co Solicitors Limited
Company Information
for the year ended 31 March 2026
Directors
Frank Richard Smith
Nicholas Anthony Woodward
Company Number
09905135 (England and Wales)
Registered Office
Essex House
18 Rodney Road
Cheltenham
GL50 1JJ
England
Accountants
Ellingsworths Ltd
Blacksmiths House
High Street
Chipping Campden
Gloucestershire
GL55 6AT
Frank Smith & Co Solicitors Limited
Statement of financial position
as at 31 March 2026
Tangible assets
35,527
42,680
Cash at bank and in hand
143,332
132,805
Creditors: amounts falling due within one year
(78,143)
(76,027)
Net current assets
242,680
184,288
Total assets less current liabilities
278,207
226,968
Provisions for liabilities
Deferred tax
(5,541)
(7,398)
Net assets
272,666
219,570
Called up share capital
100
100
Profit and loss account
272,566
219,470
Shareholders' funds
272,666
219,570
For the year ending 31 March 2026 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 directors acknowledge their 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 of Directors and authorised for issue on 6 October 2026 and were signed on its behalf by
Frank Richard Smith
Director
Company Registration No. 09905135
Frank Smith & Co Solicitors Limited
Notes to the Accounts
for the year ended 31 March 2026
Frank Smith & Co Solicitors Limited is a private company, limited by shares, registered in England and Wales, registration number 09905135. The registered office is Essex House, 18 Rodney Road, Cheltenham, GL50 1JJ, 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.
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.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents fees for legal services, net of VAT. Fixed-fee matters are generally recognised when the relevant service is completed or an agreed substantive billing milestone is reached. Where services are provided over time and the outcome can be estimated reliably, revenue is recognised by reference to the stage of completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Fixtures & fittings
20% straight line
Computer equipment
33.33% straight line
Work in progress represents the cost of legal services provided but not yet billed at the reporting date. It is stated at the lower of cost and estimated recoverable amount. Cost comprises the directly attributable labour and related costs of personnel engaged in providing the service. Amounts considered irrecoverable or not expected to be recovered are written down as appropriate.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Frank Smith & Co Solicitors Limited
Notes to the Accounts
for the year ended 31 March 2026
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2025
40,824
23,136
24,338
88,298
At 31 March 2026
40,824
23,136
24,746
88,706
At 1 April 2025
9,081
15,150
21,387
45,618
Charge for the year
4,082
1,904
1,575
7,561
At 31 March 2026
13,163
17,054
22,962
53,179
At 31 March 2026
27,661
6,082
1,784
35,527
At 31 March 2025
31,743
7,986
2,951
42,680
Work in progress
51,414
35,529
The comparative figure for work in progress of £35,529 has been reclassified from debtors to inventories to reflect the company’s accounting policy of recognising unbilled legal work as work in progress. The reclassification has no effect on profit for the year, net assets or shareholders’ funds.
Amounts falling due within one year
Trade debtors
121,161
91,981
Accrued income and prepayments
4,916
-
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Creditors: amounts falling due within one year
2026
2025
Trade creditors
3,677
5,429
Taxes and social security
22,769
6,844
Other creditors
6,816
5,169
Loans from directors
1,626
1,528
Frank Smith & Co Solicitors Limited
Notes to the Accounts
for the year ended 31 March 2026
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Operating lease commitments
2026
2025
At 31 March 2026 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
4,202
4,202
Later than one year and not later than five years
6,907
10,361
At 31 March 2026, the amount owed by the company to the directors was £1,626 (2025: £1,528). The loan is unsecured, interest-free and repayable on demand.
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Average number of employees
During the year the average number of employees was 12 (2025: 12).