Sovereign Litigation Management Ltd Accounts

SOVEREIGN LITIGATION MANAGEMENT LIMITED - Company Information






Sovereign Litigation Management Ltd

	Company No. 09400573
		Information for Filing with The Registrar
		31 January 2019

at	31 January 2019
Company No.		09400573	Notes	2019	2018
				£	£






Current assets

	Debtors		2	1,202	-

	Cash at bank and in hand			838	898
				2,040	898
Creditors: Amount falling due within one year			3	(2,292)	(1,090)
Net current liabilities				(252)	(192)
Total assets less current liabilities				(252)	(192)




Net liabilities				(252)	(192)

Capital and reserves
	Called up share capital			2	2



	Profit and loss account		4	(254)	(194)

Total equity				(252)	(192)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 January 2019 the company was entitled to exemption from audit 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 18 October 2019
And signed on its behalf by:
J.D. Shanks
Director

for the year ended 31 January 2019

Accounting policies

Basis of preparation

The accounts have been prepared 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) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The accounts are presented in Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2	Debtors
			2019	2018
			£	£
		Trade debtors	1,202	-







			1,202	-

3	Creditors:
		amounts falling due within one year
			2019	2018
			£	£

		Bank loans and overdrafts	-	(1,200)
		Other loans	-	(2)





		Loans from directors	2,279	2,292
		Other creditors	13	-

			2,292	1,090

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

Additional information

Its registered number is:

09400573

1 The Courtyard

Chalvington

East Sussec

BN27 3TD