Austin Kemp Solicitors Limited 28/02/2019 iXBRL

Austin Kemp Solicitors Limited 28/02/2019 iXBRL

AUSTIN KEMP SOLICITORS LIMITED - Company Information

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28/02/2019 2019-02-28 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2018-03-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 06818709 2018-03-01 2019-02-28 06818709 2019-02-28 06818709 2018-02-28 06818709 2017-03-01 2018-02-28 06818709 2018-02-28 06818709 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2018-03-01 2019-02-28 06818709 core:LandBuildings core:ShortLeaseholdAssets 2018-03-01 2019-02-28 06818709 core:FurnitureFittingsToolsEquipment 2018-03-01 2019-02-28 06818709 bus:RegisteredOffice 2018-03-01 2019-02-28 06818709 bus:LeadAgentIfApplicable 2018-03-01 2019-02-28 06818709 bus:Director1 2018-03-01 2019-02-28 06818709 core:IntangibleAssetsOtherThanGoodwill 2018-02-28 06818709 core:IntangibleAssetsOtherThanGoodwill 2019-02-28 06818709 core:PlantMachinery 2018-02-28 06818709 core:FurnitureFittingsToolsEquipment 2018-02-28 06818709 core:PlantMachinery 2019-02-28 06818709 core:FurnitureFittingsToolsEquipment 2019-02-28 06818709 core:WithinOneYear 2019-02-28 06818709 core:WithinOneYear 2018-02-28 06818709 core:ShareCapital 2019-02-28 06818709 core:ShareCapital 2018-02-28 06818709 core:RetainedEarningsAccumulatedLosses 2019-02-28 06818709 core:RetainedEarningsAccumulatedLosses 2018-02-28 06818709 core:BetweenOneFiveYears 2019-02-28 06818709 core:BetweenOneFiveYears 2018-02-28 06818709 core:IntangibleAssetsOtherThanGoodwill 2018-03-01 2019-02-28 06818709 core:IntangibleAssetsOtherThanGoodwill 2018-02-28 06818709 core:FurnitureFittingsToolsEquipment 2018-02-28 06818709 bus:Director1 2018-02-28 06818709 bus:Director1 2019-02-28 06818709 bus:Director1 2017-02-28 06818709 bus:Director1 2018-02-28 06818709 bus:Director1 2017-03-01 2018-02-28 06818709 bus:SmallEntities 2018-03-01 2019-02-28 06818709 bus:AuditExempt-NoAccountantsReport 2018-03-01 2019-02-28 06818709 bus:FullAccounts 2018-03-01 2019-02-28 06818709 bus:SmallCompaniesRegimeForAccounts 2018-03-01 2019-02-28 06818709 bus:PrivateLimitedCompanyLtd 2018-03-01 2019-02-28 06818709 core:Buildings 2018-02-28 06818709 core:Buildings 2019-02-28 06818709 core:Buildings 2018-03-01 2019-02-28 06818709 1 2018-03-01 2019-02-28
Company registration number: 06818709
Austin Kemp Solicitors Limited
Unaudited filleted financial statements
28 February 2019
Austin Kemp Solicitors Limited
Directors and other information
Director Mr Amandeep Singh Kooner
Company number 06818709
Registered office St.Andrew House
The Headrow
Leeds
LS1 5JW
Business address St. Andrew House
The Headrow
Leeds
LS1 5JW
Accountants Hodgson Hey Limited
Heritage Exchange
South Lane
Elland
HX5 0HG
Austin Kemp Solicitors Limited
Statement of financial position
28 February 2019
2019 2018
Note £ £ £ £
Fixed assets
Intangible assets 5 41,975 46,300
Tangible assets 6 19,516 20,302
_______ _______
61,491 66,602
Current assets
Stocks 59,687 40,000
Debtors 7 318,656 206,859
Cash at bank and in hand 82,492 39,504
_______ _______
460,835 286,363
Creditors: amounts falling due
within one year 8 ( 284,618) ( 172,932)
_______ _______
Net current assets 176,217 113,431
_______ _______
Total assets less current liabilities 237,708 180,033
Provisions for liabilities ( 10,000) ( 10,000)
_______ _______
Net assets 227,708 170,033
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 227,707 170,032
_______ _______
Shareholders funds 227,708 170,033
_______ _______
For the year ending 28 February 2019 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 November 2019 , and are signed on behalf of the board by:
Mr Amandeep Singh Kooner
Director
Company registration number: 06818709
Austin Kemp Solicitors Limited
Notes to the financial statements
Year ended 28 February 2019
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is St.Andrew House, The Headrow, Leeds, LS1 5JW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website development costs - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements - 10 % straight line
Fittings fixtures and equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2018: 7 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 March 2018 71,156 71,156
Additions 12,383 12,383
_______ _______
At 28 February 2019 83,539 83,539
_______ _______
Amortisation
At 1 March 2018 24,856 24,856
Charge for the year 16,708 16,708
_______ _______
At 28 February 2019 41,564 41,564
_______ _______
Carrying amount
At 28 February 2019 41,975 41,975
_______ _______
At 28 February 2018 46,300 46,300
_______ _______
6. Tangible assets
Computer equipment Fixtures, fittings and equipment Leasehold improvements Total
£ £ £ £
Cost
At 1 March 2018 6,799 16,794 9,780 33,373
Additions - 2,146 - 2,146
_______ _______ _______ _______
At 28 February 2019 6,799 18,940 9,780 35,519
_______ _______ _______ _______
Depreciation
At 1 March 2018 6,799 6,107 165 13,071
Charge for the year - 1,894 1,038 2,932
_______ _______ _______ _______
At 28 February 2019 6,799 8,001 1,203 16,003
_______ _______ _______ _______
Carrying amount
At 28 February 2019 - 10,939 8,577 19,516
_______ _______ _______ _______
At 28 February 2018 - 10,687 9,615 20,302
_______ _______ _______ _______
7. Debtors
2019 2018
£ £
Trade debtors 287,194 154,397
Other debtors 31,462 52,462
_______ _______
318,656 206,859
_______ _______
8. Creditors: amounts falling due within one year
2019 2018
£ £
Bank loans and overdrafts 110,609 32,195
Corporation tax 76,646 45,029
Social security and other taxes 94,551 52,168
Other creditors 2,812 43,540
_______ _______
284,618 172,932
_______ _______
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 34,112 14,349
Later than 1 year and not later than 5 years 102,336 87,817
_______ _______
136,448 102,166
_______ _______
10. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2019
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Amandeep Singh Kooner 29,962 53,550 ( 72,000) 11,512
_______ _______ _______ _______
2018
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Amandeep Singh Kooner 13,378 60,962 ( 44,378) 29,962
_______ _______ _______ _______
11. Controlling party
The company was controlled throughout the year by Mr A S Kooner.