J D Solicitors Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 13089611 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2023

for

J D Solicitors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R Dev

Mr S Joshi

REGISTERED OFFICE:

Malthouse Chambers

30 Walsall Street

Willenhall

West Midlands

WV13 2ER

REGISTERED NUMBER:

13089611 (England and Wales)

ACCOUNTANTS:

Underwood Green

Pinnacle House

1 Pinnacle Way

Derby

Derbyshire

DE24 8ZS

FIXED ASSETS

Intangible assets

4

2,340,034

2,470,036

Tangible assets

5

3,610

4,814

2,343,644

2,474,850

CURRENT ASSETS

Stocks

50,000

50,000

Debtors

6

16,662

10,273

Cash at bank

54,113

116,985

120,775

177,258

CREDITORS

Amounts falling due within one year

7

2,040,206

2,396,488

NET CURRENT LIABILITIES

(1,919,431

)

(2,219,230

)

TOTAL ASSETS LESS CURRENT LIABILITIES

424,213

255,620

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

424,113

255,520

SHAREHOLDERS' FUNDS

424,213

255,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2023 and were signed on its behalf by:

Mr R Dev - Director

1.	STATUTORY INFORMATION

J D 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.

Revenue recognition and work in progress

In accordance with FRS 102, revenue represents amounts chargeable to clients for professional services provided during the year, net of any sales tax. Services to clients, which at the balance sheet date have not been billed, have been recognised as revenue. Revenue is recognised by reference to the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the company.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of twenty 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.

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 10 (2022 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2022

and 28 February 2023

2,600,038

AMORTISATION

At 1 March 2022

130,002

Amortisation for year

130,002

At 28 February 2023

260,004

NET BOOK VALUE

At 28 February 2023

2,340,034

At 28 February 2022

2,470,036

Goodwill arose on the incorporation of J D Solicitors partnership.

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 March 2022

and 28 February 2023

6,419

DEPRECIATION

At 1 March 2022

1,605

Charge for year

1,204

At 28 February 2023

2,809

NET BOOK VALUE

At 28 February 2023

3,610

At 28 February 2022

4,814

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

600

-

Other debtors

1,500

-

Prepayments

14,562

10,273

16,662

10,273

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

34,070

52,663

Tax

117,216

136,258

Social security and other taxes

6,086

5,103

VAT

86,421

66,189

Other creditors

1,775,888

2,116,175

Accruals and deferred income

20,525

20,100

2,040,206

2,396,488

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100