Colmore Law Limited
Registered number: 10617662
Balance Sheet
as at 28 February 2018
Notes 2018
£
Fixed assets
Tangible assets 2 51,790
Current assets
Debtors 3 18,486
Cash at bank and in hand 1,382
19,868
Creditors: amounts falling due within one year 4 (8,404)
Net current assets 11,464
Total assets less current liabilities 63,254
Creditors: amounts falling due after more than one year 5 (63,225)
Net assets 29
Capital and reserves
Called up share capital 2
Profit and loss account 27
Shareholders' funds 29
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Omer Solaiman Simjee Rakshan Zafar
Director Director
Approved by the board on 13 November 2018
Colmore Law Limited
Notes to the Accounts
for the period from 14 February 2017 to 28 February 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33.33% straight line
Motor vehicle 25.00% straight line
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
Additions 1,234 67,956 69,190
At 28 February 2018 1,234 67,956 69,190
Depreciation
Charge for the period 411 16,989 17,400
At 28 February 2018 411 16,989 17,400
Net book value
At 28 February 2018 823 50,967 51,790
3 Debtors 2018
£
Other debtors 18,486
4 Creditors: amounts falling due within one year 2018
£
Obligations under finance lease and hire purchase contracts 8,404
5 Creditors: amounts falling due after one year 2018
£
Obligations under finance lease and hire purchase contracts 63,225
6 Other information
Colmore Law Limited is a private company limited by shares and incorporated in England. Its registered office is:
Colmore Plaza
20 Colmore Circus Queensway
Birmingham
England
B4 6AT
Colmore Law Limited 10617662 false 2017-02-14 2018-02-28 2018-02-28 VT Final Accounts February 2017 Omer Solaiman Simjee No description of principal activity 10617662 2017-02-14 2018-02-28 10617662 bus:PrivateLimitedCompanyLtd 2017-02-14 2018-02-28 10617662 bus:AuditExemptWithAccountantsReport 2017-02-14 2018-02-28 10617662 bus:Director40 2017-02-14 2018-02-28 10617662 2 2017-02-14 2018-02-28 10617662 core:PlantMachinery 2017-02-14 2018-02-28 10617662 core:Vehicles 2017-02-14 2018-02-28 10617662 countries:England 2017-02-14 2018-02-28 10617662 bus:FRS102 2017-02-14 2018-02-28 10617662 bus:FullAccounts 2017-02-14 2018-02-28 10617662 2018-02-28 10617662 core:WithinOneYear 2018-02-28 10617662 core:AfterOneYear 2018-02-28 10617662 core:ShareCapital 2018-02-28 10617662 core:RetainedEarningsAccumulatedLosses 2018-02-28 10617662 core:PlantMachinery 2018-02-28 10617662 core:Vehicles 2018-02-28 10617662 2017-02-13 iso4217:GBP