DPP Law Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07918295 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2022

for

DPP Law Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Nolan

J Coleman

D Kilty

P Lewis

I Gould

J Hagan

S Miah

REGISTERED OFFICE:

Pinnacle House

Stanley Road

Bootle

Liverpool

Merseyside

L20 7JF

REGISTERED NUMBER:

07918295 (England and Wales)

ACCOUNTANTS:

Haines Watts

3rd Floor Pacific Chambers

11-13 Victoria Street

Liverpool

Merseyside

L2 5QQ

FIXED ASSETS

Intangible assets

4

1,443,070

2,164,604

Tangible assets

5

760,167

746,479

2,203,237

2,911,083

CURRENT ASSETS

Stocks

899,041

1,014,731

Debtors

6

325,525

294,499

Cash at bank and in hand

177

299,604

1,224,743

1,608,834

CREDITORS

Amounts falling due within one year

7

1,009,695

1,771,696

NET CURRENT ASSETS/(LIABILITIES)

215,048

(162,862

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,418,285

2,748,221

CREDITORS

Amounts falling due after more than one year

8

(700,772

)

(811,464

)

PROVISIONS FOR LIABILITIES

(3,482

)

(5,025

)

NET ASSETS

1,714,031

1,931,732

CAPITAL AND RESERVES

Called up share capital

10

18,013

21,016

Capital redemption reserve

3,002

-

Retained earnings

1,693,016

1,910,716

SHAREHOLDERS' FUNDS

1,714,031

1,931,732

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 25 January 2023 and were signed on its behalf by:

S Nolan - Director

1.	STATUTORY INFORMATION

DPP Law Ltd 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover represents services provided excluding disbursements and value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten 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

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold property

2% Straight line basis

Fixtures and fittings

10% Straight line basis

Computer equipment

25% Straight line basis

Work in progress

Work in progress and unbilled costs are valued by the practice as detailed below:

1. All matters which have been worked on within the past three months of the relevant year and which are open at the year end have been included.

2. With the exception of personal injury matters, the work in progress is the time recorded by the fee earner where liability has been agreed.

3. For PI, WIP is based on the costs delivered in the month following the year end. With a few exceptions all PI cases are undertaken on a no win no fee basis. As of 1 May 2013 referral fees ceased.

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 43 (2021 - 43 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2021

and 30 April 2022

7,215,342

AMORTISATION

At 1 May 2021

5,050,738

Charge for year

721,534

At 30 April 2022

5,772,272

NET BOOK VALUE

At 30 April 2022

1,443,070

At 30 April 2021

2,164,604

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 May 2021

758,784

97,431

231,811

1,088,026

Additions

-

-

58,211

58,211

At 30 April 2022

758,784

97,431

290,022

1,146,237

DEPRECIATION

At 1 May 2021

74,019

44,244

223,284

341,547

Charge for year

15,176

9,743

19,604

44,523

At 30 April 2022

89,195

53,987

242,888

386,070

NET BOOK VALUE

At 30 April 2022

669,589

43,444

47,134

760,167

At 30 April 2021

684,765

53,187

8,527

746,479

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Trade debtors

255,295

238,096

Other debtors

70,230

56,403

325,525

294,499

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Bank loans and overdrafts

240,302

291,056

Trade creditors

20,585

37,811

Taxation and social security

507,017

621,587

Other creditors

241,791

821,242

1,009,695

1,771,696

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.22

30.4.21

£

£

Bank loans

642,888

811,464

Other creditors

57,884

-

700,772

811,464

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

91,603

115,172

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.4.22

30.4.21

£

£

Within one year

45,117

48,692

Between one and five years

105,062

150,179

150,179

198,871

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number

Class

Nominal

30.4.22

30.4.21

value

£

£

6 (2021:7)

Ordinary

£1

6

7

1

Ordinary A shares

£1

1

1

1

Ordinary C shares

£1

1

1

1

Ordinary D shares

£1

1

1

1

Ordinary E shares

£1

1

1

0 (2021:1)

Ordinary F shares

£1

-

1

1

Ordinary G shares

£1

1

1

1

Ordinary H share

£1

1

1

1

Ordinary I shares

£1

1

1

18 (2021:21)

Redeemable shares

£1,000

18,000

21,000

18,013

21,016

During the year the company purchased and cancelled £3,002 (2021: £1) of the share capital.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by its seven ordinary shareholders.

12.

SECURITY

The Bank holds a debenture dated 30 April 2014 against all assets of the company. The Bank also holds a legal charge dated 29 October 2015 against the company's trading premises at Pinnacle House, Stanley Road, Bootle, Liverpool, Merseyside, L20 7JF.