The Institute of Legal Finance & Management Filleted accounts for Companies House (small and micro)
The Institute of Legal Finance & Management Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
10245337
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Company Limited by Guarantee |
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Company Limited by Guarantee |
Financial Statements |
Year ended 30 June 2023
Contents |
Page |
Statement of financial position |
1 |
Notes to the financial statements |
2 |
|
Company Limited by Guarantee |
Statement of Financial Position |
2023 |
2022 |
||
Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
6 |
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Current assets
Debtors |
7 |
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Cash at bank and in hand |
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--------- |
--------- |
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Creditors: amounts falling due within one year |
8 |
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--------- |
--------- |
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Net current assets |
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--------- |
--------- |
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Total assets less current liabilities |
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--------- |
--------- |
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Net assets |
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--------- |
--------- |
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Capital and reserves
Profit and loss account |
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--------- |
--------- |
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Reserves |
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--------- |
--------- |
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
15 November 2023
, and are signed on behalf of the board by:
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Director |
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Company registration number:
10245337
|
Company Limited by Guarantee |
Notes to the Financial Statements |
Year ended 30 June 2023
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is River House Suites 1 & 2, First Floor, 1 Maidstone Road, Sidcup, Kent, DA14 5RH, England.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment |
- |
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Depreciation on the assets is charged over 3 - 5 years straight line basis, however there is one item of equipment within fixed assets (office chairs) which is depreciated over 10 years.
Impairment of fixed assets
Financial instruments
Defined contribution plans
4.
Company limited by guarantee
The company is a company limited by guarantee. The members of the company are persons whose name is entered in the Register of Members of the Institute and Membership shall be construed accordingly. The liability in respect of the guarantee is limited to £1 for each member.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
8
(2022:
8
).
6.
Tangible assets
Equipment |
Total |
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£ |
£ |
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Cost |
||
At 1 July 2022 |
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Additions |
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Disposals |
(
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(
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-------- |
-------- |
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At 30 June 2023 |
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-------- |
-------- |
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Depreciation |
||
At 1 July 2022 |
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Charge for the year |
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Disposals |
(
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(
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-------- |
-------- |
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At 30 June 2023 |
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-------- |
-------- |
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Carrying amount |
||
At 30 June 2023 |
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-------- |
-------- |
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At 30 June 2022 |
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-------- |
-------- |
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7.
Debtors
2023 |
2022 |
|
£ |
£ |
|
Trade debtors |
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Other debtors |
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-------- |
-------- |
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-------- |
-------- |
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8.
Creditors:
amounts falling due within one year
2023 |
2022 |
|
£ |
£ |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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-------- |
--------- |
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-------- |
--------- |
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9.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023 |
2022 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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Later than 5 years |
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-------- |
--------- |
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-------- |
--------- |
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10.
Summary audit opinion
The auditor's report dated
8 December 2023
was
unqualified
.
The senior statutory auditor was
Colin Reid FCA
, for and on behalf of
Burgess Hodgson LLP
.