H & C Law & Property Group Limited - Period Ending 2014-05-31

Registration number: 06481504

H & C Law & Property Group Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2014
 

H & C Law & Property Group Limited
Contents

Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

H & C Law & Property Group Limited
(Registration number: 06481504)
Abbreviated Balance Sheet at 31 May 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					7,765			3,906
Current assets
Debtors					22,122			5,094
Creditors: Amounts falling due within one year		3			(7,817)			(4,993)
Net current assets					14,305			101
Total assets less current liabilities					22,070			4,007
Provisions for liabilities					(1,553)			(781)
Net assets					20,517			3,226
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					20,515			3,224
Shareholders' funds					20,517			3,226

For the year ending 31 May 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 17 February 2015 and signed on its behalf by:

S D Whyte Director

S C Haggett Director

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H & C Law & Property Group Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 May 2014

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Fee income, net of VAT, is recognised when there is a right to consideration for work performed under contract. Fee income represents revenue earned under contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax. Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors. Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% straight line basis
Computer equipment	33 1/3% straight line basis

Amounts recoverable on client contracts

Amounts recoverable on client contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account.

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H & C Law & Property Group Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 May 2014

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2013		5,711			5,711
Additions		7,432			7,432
At 31 May 2014		13,143			13,143
Depreciation
At 1 June 2013		1,805			1,805
Charge for the year		3,573			3,573
At 31 May 2014		5,378			5,378
Net book value
At 31 May 2014		7,765			7,765
At 31 May 2013		3,906			3,906

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		744			3,469

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H & C Law & Property Group Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 May 2014

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

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