Paratus Law Limited 09961329 false 2017-07-01 2018-06-30 2018-06-30 The principal activity of the company is the provision of legal services. Digita Accounts Production Advanced 6.21.8540.0 Software true 09961329 2017-07-01 2018-06-30 09961329 2018-06-30 09961329 bus:Director1 1 2018-06-30 09961329 core:RetainedEarningsAccumulatedLosses 2018-06-30 09961329 core:ShareCapital 2018-06-30 09961329 core:CurrentFinancialInstruments 2018-06-30 09961329 core:CurrentFinancialInstruments core:WithinOneYear 2018-06-30 09961329 core:FurnitureFittings 2018-06-30 09961329 core:OfficeEquipment 2018-06-30 09961329 bus:SmallEntities 2017-07-01 2018-06-30 09961329 bus:AuditExemptWithAccountantsReport 2017-07-01 2018-06-30 09961329 bus:FullAccounts 2017-07-01 2018-06-30 09961329 bus:SmallCompaniesRegimeForAccounts 2017-07-01 2018-06-30 09961329 bus:RegisteredOffice 2017-07-01 2018-06-30 09961329 bus:Director1 2017-07-01 2018-06-30 09961329 bus:Director1 1 2017-07-01 2018-06-30 09961329 bus:PrivateLimitedCompanyLtd 2017-07-01 2018-06-30 09961329 core:FurnitureFittings 2017-07-01 2018-06-30 09961329 core:OfficeEquipment 2017-07-01 2018-06-30 09961329 countries:AllCountries 2017-07-01 2018-06-30 09961329 2017-06-30 09961329 core:FurnitureFittings 2017-06-30 09961329 core:OfficeEquipment 2017-06-30 09961329 2016-01-20 2017-06-30 09961329 2017-06-30 09961329 core:RetainedEarningsAccumulatedLosses 2017-06-30 09961329 core:ShareCapital 2017-06-30 09961329 core:CurrentFinancialInstruments 2017-06-30 09961329 core:CurrentFinancialInstruments core:WithinOneYear 2017-06-30 09961329 core:FurnitureFittings 2017-06-30 09961329 core:OfficeEquipment 2017-06-30 iso4217:GBP xbrli:pure

Registration number: 09961329

Paratus Law Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2018

 

Paratus Law Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Paratus Law Limited

(Registration number: 09961329)
Balance Sheet as at 30 June 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

2,655

957

Current assets

 

Debtors

5

24,527

13,427

Cash at bank and in hand

 

14,969

31,194

 

39,496

44,621

Creditors: Amounts falling due within one year

6

(25,277)

(29,155)

Net current assets

 

14,219

15,466

Net assets

 

16,874

16,423

Capital and reserves

 

Called up share capital

10,000

10,000

Profit and loss account

6,874

6,423

Total equity

 

16,874

16,423

For the financial year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 on 9 November 2018
 

.........................................

SD Arthur
Director

 

Paratus Law Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Oxford House
12-20 Oxford Street
Newbury
Berkshire
RG14 1JB
England

2

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

15% straight line basis

Fixtures and fittings

15% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Paratus Law Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Client Accounts

Client accounts compromise of money held on behalf of clients. At 30th June 2018 the company held monies totalling £163,512.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2017 - 1).

 

Paratus Law Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 July 2017

296

748

1,044

Additions

871

1,311

2,182

At 30 June 2018

1,167

2,059

3,226

Depreciation

At 1 July 2017

22

65

87

Charge for the year

175

309

484

At 30 June 2018

197

374

571

Carrying amount

At 30 June 2018

970

1,685

2,655

At 30 June 2017

274

683

957

5

Debtors

2018
£

2017
£

Trade debtors

10,665

2,277

Prepayments

2,057

2,005

Other debtors

11,805

9,145

24,527

13,427

6

Creditors

Creditors: amounts falling due within one year

2018
£

2017
£

Due within one year

Taxation and social security

18,352

16,227

Other creditors

6,925

12,928

25,277

29,155

 

Paratus Law Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

7

Related party transactions

Transactions with directors

2018

At 1 July 2017
£

Advances to directors
£

Loaned by director
£

At 30 June 2018
£

SD Arthur

(8,000)

83,785

(78,128)

(2,343)

         
       

 

Other transactions with directors

Included in other creditors at the year end is a balance due to the director of £2,343 (2017 - £8,000).