REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 April 2018 |
for |
Teesside Law Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 April 2018 |
for |
Teesside Law Limited |
Teesside Law Limited (Registered number: 08598544) |
Contents of the Financial Statements |
for the Year Ended 30 April 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Teesside Law Limited |
Company Information |
for the Year Ended 30 April 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
140 Coniscliffe Road |
DARLINGTON |
County Durham |
DL3 7RT |
Teesside Law Limited (Registered number: 08598544) |
Balance Sheet |
30 April 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Revaluation reserve | 12 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Teesside Law Limited (Registered number: 08598544) |
Balance Sheet - continued |
30 April 2018 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors on |
Teesside Law Limited (Registered number: 08598544) |
Notes to the Financial Statements |
for the Year Ended 30 April 2018 |
1. | STATUTORY INFORMATION |
Teesside Law Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There were no material departures from that standard. |
The principal accounting policies adopted in the preparation of the financial statements are set out below and |
have remained unchanged from the previous year, and also have been consistently applied within the same |
accounts. |
Turnover |
Turnover represents net invoiced provision of services, excluding value added tax, except in respect of service |
contracts where turnover is recognised when the company obtains right to consideration. |
Income recognition |
Income is recognised when a contract for the sale of goods is determined as unconditional. |
Goodwill |
Tangible fixed assets |
Freehold property | - |
Law library | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks have been valued at the lower of cost and estimated selling price less costs to sell. |
Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
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. |
Teesside Law Limited (Registered number: 08598544) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2017 |
and 30 April 2018 |
AMORTISATION |
At 1 May 2017 |
Amortisation for year |
At 30 April 2018 |
NET BOOK VALUE |
At 30 April 2018 |
At 30 April 2017 |
Teesside Law Limited (Registered number: 08598544) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Law | and | Computer |
property | library | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 May 2017 |
Additions |
At 30 April 2018 |
DEPRECIATION |
At 1 May 2017 |
Charge for year |
At 30 April 2018 |
NET BOOK VALUE |
At 30 April 2018 |
At 30 April 2017 |
Cost or valuation at 30 April 2018 is represented by: |
Fixtures |
Freehold | Law | and | Computer |
property | library | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
Valuation in 2014 | 38,504 | - | - | - | 38,504 |
Cost | 61,496 | 2,000 | 4,590 | 24,314 | 92,400 |
100,000 | 2,000 | 4,590 | 24,314 | 130,904 |
If freehold property had not been revalued it would have been included at the following historical cost: |
2018 | 2017 |
£ | £ |
Cost | 61,496 | 61,496 |
Freehold property was valued on an open market basis on 6 May 2014 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
Amounts recoverable on contracts |
Prepayments |
Teesside Law Limited (Registered number: 08598544) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
Taxation and social security |
Other creditors |
Directors' current accounts |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans |
Other creditors |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2018 | 2017 |
£ | £ |
Bank loans |
Bank loans are secured against the freehold property of the business. |
10. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 8,022 | 7,788 |
Deferred |
tax |
£ |
Balance at 1 May 2017 |
Accelerated capital allowances | 946 |
Deferred tax on revaluation | (712 | ) |
Balance at 30 April 2018 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | £1 | 150 | 150 |
Teesside Law Limited (Registered number: 08598544) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
12. | RESERVES |
Revaluation |
reserve |
£ |
At 1 May 2017 |
Deferred tax on revaluation | 712 |
At 30 April 2018 |
13. | RELATED PARTY DISCLOSURES |
2018 | 2017 |
£ | £ |
Amounts due to directors | 84,254 | 200,245 |
No interest has been charged. |