Abensons Law Ltd - Accounts to registrar (filleted) - small 18.2

Abensons Law Ltd - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 08182444 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2019

for

Abensons Law Ltd

Abensons Law Ltd (Registered number: 08182444)






Contents of the Financial Statements
for the Year Ended 31 March 2019




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Abensons Law Ltd

Company Information
for the Year Ended 31 March 2019







DIRECTORS: E S Abenson
S Abenson
G E Evans
J S Nelson





REGISTERED OFFICE: 102 Allerton Road
Liverpool
Merseyside
L18 2DG





REGISTERED NUMBER: 08182444 (England and Wales)





ACCOUNTANTS: Alexander Myerson & Co Limited
Alexander House
61 Rodney Street
Liverpool
Merseyside
L1 9ER

Abensons Law Ltd (Registered number: 08182444)

Abridged Balance Sheet
31 March 2019

31.3.19 31.3.18
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 391,300 419,250
Tangible assets 5 32,489 38,973
423,789 458,223

CURRENT ASSETS
Stocks 282,506 263,507
Debtors 907,634 720,437
Cash at bank and in hand 7,803 18,841
1,197,943 1,002,785
CREDITORS
Amounts falling due within one year 1,022,662 833,076
NET CURRENT ASSETS 175,281 169,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

599,070

627,932

CREDITORS
Amounts falling due after more than one
year

526,052

552,615
NET ASSETS 73,018 75,317

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 72,918 75,217
SHAREHOLDERS' FUNDS 73,018 75,317

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.

Abensons Law Ltd (Registered number: 08182444)

Abridged Balance Sheet - continued
31 March 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 4 December 2019 and were signed on its behalf
by:





E S Abenson - Director


Abensons Law Ltd (Registered number: 08182444)

Notes to the Financial Statements
for the Year Ended 31 March 2019

1. STATUTORY INFORMATION

Abensons Law Ltd is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 net invoiced sales of services, 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 twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred 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 or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

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.

Abensons Law Ltd (Registered number: 08182444)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

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 36 (2018 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2018
and 31 March 2019 559,000
AMORTISATION
At 1 April 2018 139,750
Amortisation for year 27,950
At 31 March 2019 167,700
NET BOOK VALUE

At 31 March 2019 391,300
At 31 March 2018 419,250

Abensons Law Ltd (Registered number: 08182444)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2018 141,277
Additions 8,149
At 31 March 2019 149,426
DEPRECIATION
At 1 April 2018 102,304
Charge for year 14,633
At 31 March 2019 116,937
NET BOOK VALUE
At 31 March 2019 32,489
At 31 March 2018 38,973

6. SECURED DEBTS

The following secured debts are included within creditors:

31.3.19 31.3.18
£    £   
Bank loans and overdraft 29,102 44,346
Mortgage 126,813 146,651
155,915 190,997

A debenture containing fixed and floating charges dated 11th October 2013 was created by the company
securing all monies due or to become due to Santander UK Plc.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.19 31.3.18
value: £    £   
40 Ordinary A £1 40 40
25 Ordinary B £1 25 25
20 Ordinary C £1 20 20
15 Ordinary D £1 15 15
100 100

Each class of ordinary share rank Pari Passu.

8. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £278,340.