Longden Walker and Renney (Solicitors) - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08021038 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Longden Walker and Renney (Solicitors)

Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D Nesbitt

N I Heavisides

A J Ainsley

A Cadden-Young

L Brydon

REGISTERED OFFICE:

14 John Street

Sunderland

Tyne and Wear

SR1 1HZ

REGISTERED NUMBER:

08021038 (England and Wales)

ACCOUNTANTS:

TTR Barnes Limited

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

FIXED ASSETS

Intangible assets

4

700,000

700,000

Tangible assets

5

25,444

33,009

725,444

733,009

CURRENT ASSETS

Debtors

6

1,950,594

1,502,385

Cash at bank and in hand

604,310

287,462

2,554,904

1,789,847

CREDITORS

Amounts falling due within one year

7

337,070

258,801

NET CURRENT ASSETS

2,217,834

1,531,046

TOTAL ASSETS LESS CURRENT LIABILITIES

2,943,278

2,264,055

CREDITORS

Amounts falling due after more than one year

8

(26,637

)

(36,651

)

PROVISIONS FOR LIABILITIES

(6,359

)

(6,272

)

NET ASSETS

2,910,282

2,221,132

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

2,909,282

2,220,132

SHAREHOLDERS' FUNDS

2,910,282

2,221,132

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 5 March 2024 and were signed on its behalf by:

N I Heavisides - Director

1.	STATUTORY INFORMATION

Longden Walker and Renney (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.

The financial statements have been prepared on the going concern basis, which assume that the company will continue in operational existence for the foreseeable future, which the directors consider appropriate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business, is not being amortised in accordance with the Financial Reporting Standard 102 section 1A. This is a departure from the requirements of the Companies Act 2006 which requires all Intangibles to be amortised. The directors consider that the carrying value of the company's goodwill has not reduced following an impairment review.

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

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Debtors under contract

Debtors under contract have been valued at the value of service provided to date based on a proportion of the total expected consideration at completion.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2022

and 31 July 2023

700,000

NET BOOK VALUE

At 31 July 2023

700,000

At 31 July 2022

700,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2022

43,757

130,363

174,120

Additions

-

651

651

At 31 July 2023

43,757

131,014

174,771

DEPRECIATION

At 1 August 2022

28,589

112,522

141,111

Charge for year

2,275

5,941

8,216

At 31 July 2023

30,864

118,463

149,327

NET BOOK VALUE

At 31 July 2023

12,893

12,551

25,444

At 31 July 2022

15,168

17,841

33,009

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,173,808

1,075,298

Amounts owed by associates

762,128

408,070

Other debtors

14,658

19,017

1,950,594

1,502,385

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

10,012

10,012

Trade creditors

1,206

1,837

Taxation and social security

293,512

214,540

Other creditors

32,340

32,412

337,070

258,801

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

26,637

36,651

9.	LEASING AGREEMENTS

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

2023

2022

£

£

Within one year

54,471

54,471

Between one and five years

9,826

25,456

64,297

79,927

10.	ULTIMATE CONTROLLING PARTY

The company was under the control of N I Heavisides.