REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 27 February 2023 |
for |
Law Brothers Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 27 February 2023 |
for |
Law Brothers Limited |
Law Brothers Limited (Registered number: 05759327) |
Contents of the Financial Statements |
for the Year Ended 27 February 2023 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 4 |
Law Brothers Limited |
Company Information |
for the Year Ended 27 February 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
68 Queen Street |
Sheffield |
South Yorkshire |
S1 1WR |
BANKERS: |
Bridle Road |
Bootle |
Merseyside |
L30 4GB |
SOLICITORS: |
Riverside East |
2 Millsands |
Sheffield |
South Yorkshire |
S3 8DT |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Law Brothers Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Law Brothers Limited for the year ended 27 February 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Law Brothers Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Law Brothers Limited and state those matters that we have agreed to state to the director of Law Brothers Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Law Brothers Limited and its director for our work or for this report. |
It is your duty to ensure that Law Brothers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Law Brothers Limited. You consider that Law Brothers Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Law Brothers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
68 Queen Street |
Sheffield |
South Yorkshire |
S1 1WR |
Law Brothers Limited (Registered number: 05759327) |
Balance Sheet |
27 February 2023 |
27/2/23 | 27/2/22 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Law Brothers Limited (Registered number: 05759327) |
Notes to the Financial Statements |
for the Year Ended 27 February 2023 |
1. | STATUTORY INFORMATION |
Law Brothers Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Law Brothers Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Law Brothers Limited (Registered number: 05759327) |
Notes to the Financial Statements - continued |
for the Year Ended 27 February 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The accounts have been prepared on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 28 February 2022 |
and 27 February 2023 |
NET BOOK VALUE |
At 27 February 2023 |
At 27 February 2022 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: The Homestead, 105 Towngate Road, Sheffield, S35 0AR |
Nature of business: |
% |
Class of shares: | holding |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
27/2/23 | 27/2/22 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
27/2/23 | 27/2/22 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 47,443 | 67,791 |
Law Brothers Limited (Registered number: 05759327) |
Notes to the Financial Statements - continued |
for the Year Ended 27 February 2023 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
27/2/23 | 27/2/22 |
£ | £ |
Bank loans |
The bank loans are secured over the property held in Law Brothers (Tours) Limited. |