Company No: 10829874 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mr M Bentata
	Mr D Harrington
	Mr D Lowen
	Mr F Reid

REGISTERED OFFICE	The Deck
	8-14 Meard Street
	London
	W1F 0EQ
	England
	United Kingdom

COMPANY NUMBER

10829874 (England and Wales)

CHARTERED ACCOUNTANTS	Francis Clark LLP
	Centenary House
	Peninsula Park
	Rydon Lane
	Exeter
	Devon EX2 7XE

	Note	2023		2022
		£		£
Fixed assets
Tangible assets	3	28,858		44,572
		28,858		44,572
Current assets
Debtors	4	1,828,481		1,403,560
Cash at bank and in hand		106,233		276,308
		1,934,714		1,679,868
Creditors: amounts falling due within one year	5	( 1,053,998)		( 801,769)
Net current assets		880,716		878,099
Total assets less current liabilities		909,574		922,671
Creditors: amounts falling due after more than one year	6	( 200,000)		( 200,000)
Provision for liabilities	7	( 4,100)		( 5,500)
Net assets		705,474		717,171
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		705,374		717,071
Total shareholders' funds		705,474		717,171

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Level Law Limited (registered number: 10829874) were approved and authorised for issue by the Board of Directors on 20 June 2024. They were signed on its behalf by:

Mr D Harrington Director

Mr D Lowen Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Level Law Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Deck, 8-14 Meard Street, London, W1F 0EQ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover represents the value of services rendered during the year (excluding VAT) and comprises both completed work (gross fees billed) and incomplete unbilled work (accrued income).

Gross fees billed represent the amounts (excluding VAT) derived from the provision of completed work for clients during the year. In addition, accrued income is recognised in accordance with the principles of FRS102. The movement in accrued income has been shown as turnover for the year.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Fixtures and fittings	5 years straight line
Office equipment	5 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	13		11

3. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 July 2022	57,956		31,666		9,406		12,149		111,177
Additions	0		4,529		796		3,645		8,970
At 30 June 2023	57,956		36,195		10,202		15,794		120,147
Accumulated depreciation
At 01 July 2022	36,103		18,539		5,015		6,948		66,605
Charge for the financial year	11,592		7,237		2,042		3,813		24,684
At 30 June 2023	47,695		25,776		7,057		10,761		91,289
Net book value
At 30 June 2023	10,261		10,419		3,145		5,033		28,858
At 30 June 2022	21,853		13,127		4,391		5,201		44,572

4. Debtors

	2023		2022
	£		£
Trade debtors	1,309,517		1,068,278
Prepayments and accrued income	483,025		302,013
Other debtors	35,939		33,269
	1,828,481		1,403,560

5. Creditors: amounts falling due within one year

	2023		2022
	£		£
Bank loans	65,901		0
Trade creditors	97,616		63,761
Accruals	815,952		620,911
Taxation and social security	68,128		104,278
Other creditors	6,401		12,819
	1,053,998		801,769

6. Creditors: amounts falling due after more than one year

	2023		2022
	£		£
Other creditors	200,000		200,000

There are no amounts included above in respect of which any security has been given by the small entity.

7. Provision for liabilities

	2023		2022
	£		£
Deferred tax	4,100		5,500

8. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Financial commitments

Other financial commitments

The total amount of financial commitments not included in the balance sheet is £101,979 (2022 - £194,688).