Kerslands Solicitors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC441629 (Scotland)

KERSLANDS SOLICITORS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Keith

L McDermid

REGISTERED OFFICE:

4 Station Road

Milngavie

G62 8AB

REGISTERED NUMBER:

SC441629 (Scotland)

ACCOUNTANTS:

Benham Conway & Co

16 Royal Crescent

Glasgow

G3 7SL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

21,965

23,910

21,965

23,910

CURRENT ASSETS

Debtors

6

170,312

46,302

Cash at bank and in hand

1,421,385

38,374

1,591,697

84,676

CREDITORS

Amounts falling due within one year

7

1,529,188

46,877

NET CURRENT ASSETS

62,509

37,799

TOTAL ASSETS LESS CURRENT LIABILITIES

84,474

61,709

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

84,473

61,708

SHAREHOLDERS' FUNDS

84,474

61,709

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 August 2019 and were signed on its behalf by:

A Keith - Director

L McDermid - Director

1.	STATUTORY INFORMATION

Kerslands Solicitors Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the value of services provided during the year, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings

-

at variable rates on reducing balance

Plant and machinery etc

-

20% on reducing balance

Financial instruments

Basic financial liabilities, including trade and other payables, bank loans and other loans that are classified as

debt, are initially recognised at transaction price and are subsequently carried at amortised cost, using the

effective interest rate method.

Taxation

Taxation for the year comprises current 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 3 (2018 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

450,000

AMORTISATION

At 1 April 2018

and 31 March 2019

450,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

30,033

5,069

35,102

DEPRECIATION

At 1 April 2018

8,761

2,431

11,192

Charge for year

1,418

527

1,945

At 31 March 2019

10,179

2,958

13,137

NET BOOK VALUE

At 31 March 2019

19,854

2,111

21,965

At 31 March 2018

21,272

2,638

23,910

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

161,610

38,052

Other debtors

8,702

8,250

170,312

46,302

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans

7,350

5,856

Trade creditors

-

824

Taxation and social security

47,692

39,301

Other creditors

1,474,146

896

1,529,188

46,877