Registration number:
Prepared for the registrar
for the
Period from 13 April 2021 to 31 March 2022
Lawfront Midco Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Lawfront Midco Limited
Company Information
Directors |
N A Lloyd N R Osborne |
Registered office |
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Auditors |
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Lawfront Midco Limited
(Registration number: 13332290)
Balance Sheet as at 31 March 2022
Note |
2022 |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
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Shareholders' funds |
1 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
Lawfront Midco Limited
Notes to the Financial Statements for the Period from 13 April 2021 to 31 March 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The company was formerly known as Scale Midco Limited.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Critical accounting judgements and key sources of estimation uncertainty
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.
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Lawfront Midco Limited
Notes to the Financial Statements for the Period from 13 April 2021 to 31 March 2022
Debtors |
Note |
31 March 2022 |
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Amounts owed by related parties |
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Creditors |
Note |
31 March 2022 |
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Due within one year |
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Amounts due to related parties |
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Share capital |
Allotted, called up and fully paid shares
31 March 2022 |
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No. |
£ |
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1 |
Related party transactions |
Lawfront Holdings Limited
A Company which holds 100% of the share capital of Lawfront Midco Limited.
The Company has taken advantage of the exemption from the requirement under FRS 102 33.1, to disclose transactions with Lawfront Holdings Limited.
Loan Notes
Amounts owed to related parties include unsecured loan notes of £2 million repayable in full on 2 August 2022. Interest is payable on the loan notes at the rate of 10% per annum, repayable on redemption. The liability at 31 March 2022 includes £132,054 in respect of interest rights accruing on the loan notes.
Also included are further 10% unsecured loan notes of £630,608 issued on 31 March 2022 and repayable on 31 March 2023.
The loan notes are wholly owned by Blixt Fund I of IQEQ Corp. Serve. (Cayman) Limited, the immediate parent entity.
Amounts owed to related parties in both Parent Company and Group at 31 March 2022 include £50,775 in respect of fixed dividend rights accruing on the preference shares that are payable only once the point that the Parent Company has sufficient distributable reserves to legally declare a dividend.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The ultimate controlling party is
Non adjusting events after the financial period |
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Lawfront Midco Limited
Notes to the Financial Statements for the Period from 13 April 2021 to 31 March 2022
Audit report |