Gordons Property Lawyers Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03758842 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Gordons Property Lawyers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C A Gordon

Mr M R Santa-Olalla

REGISTERED OFFICE:

SC House Vanwall Road

Maidenhead

Berkshire

SL6 4UB

REGISTERED NUMBER:

03758842 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

TOR

Saint-Cloud Way

Maidenhead

Berkshire

SL6 8BN

FIXED ASSETS

Intangible assets

4

477,244

757,226

Tangible assets

5

10,607

20,321

487,851

777,547

CURRENT ASSETS

Debtors

6

1,262,524

1,291,585

Cash at bank and in hand

57,699

2,272

1,320,223

1,293,857

CREDITORS

Amounts falling due within one year

7

(1,128,448

)

(1,026,301

)

NET CURRENT ASSETS

191,775

267,556

TOTAL ASSETS LESS CURRENT LIABILITIES

679,626

1,045,103

CREDITORS

Amounts falling due after more than one year

8

(544,810

)

(471,814

)

PROVISIONS FOR LIABILITIES

(2,651

)

(5,081

)

NET ASSETS

132,165

568,208

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

132,065

568,108

SHAREHOLDERS' FUNDS

132,165

568,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:

Mr M R Santa-Olalla - Director

1.	STATUTORY INFORMATION

Gordons Property Lawyers 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover

Turnover represents the fair value of services provided during the period on client assignments. Turnover is recognised as legal services are undertaken and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients and is based on the time spent, skills and expertise provided and expenses incurred. Turnover excludes Value Added Tax.

Turnover in respect of contingent fee assignments (over and above any agreed minimum fee which is recognised above) is recognised in the period when the contingent event occurs and the collectability of the fee is assured. Unbilled turnover on individual client assignments is included as work in progress.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, 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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and therefore at fair value, with changes recognised in profit and loss.

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.

Claims

Provision is made on a case by case basis in respect of the cost of defending claims and where appropriate the estimated cost to the firm of settling claims, net of expected insurance recoveries.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 130 (2022 - 109 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2022

2,590,800

476,742

3,067,542

Additions

-

33,460

33,460

At 31 March 2023

2,590,800

510,202

3,101,002

AMORTISATION

At 1 April 2022

1,964,690

345,626

2,310,316

Charge for year

259,080

54,362

313,442

At 31 March 2023

2,223,770

399,988

2,623,758

NET BOOK VALUE

At 31 March 2023

367,030

110,214

477,244

At 31 March 2022

626,110

131,116

757,226

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

71,212

Additions

2,082

At 31 March 2023

73,294

DEPRECIATION

At 1 April 2022

50,891

Charge for year

11,796

At 31 March 2023

62,687

NET BOOK VALUE

At 31 March 2023

10,607

At 31 March 2022

20,321

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

487,965

564,278

Other debtors

774,559

727,307

1,262,524

1,291,585

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

410,243

472,416

Trade creditors

8,224

4,436

Taxation and social security

380,113

329,975

Other creditors

329,868

219,474

1,128,448

1,026,301

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

544,810

471,814

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

130,023

163,107

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.23

31.3.22

£

£

Bank loans

955,053

679,931

10.	RELATED PARTY DISCLOSURES

Mr K W Gordon

As at the year end Mr K W Gordon was owed £Nil (2022: £25,467) from the company.

Mr M R Santa-Olalla

As at the year end Mr M R Santa-Olalla was owed £128,594 (2022: £58,954) from the company.

11.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no ultimate controlling party.