Core Law Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09644748 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2019

FOR

CORE LAW LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

M V Athey

S J F Judd

Mrs L E O'Flynn

SECRETARY:

REGISTERED OFFICE:

4-6 Dudley Road

Tunbridge Wells

United Kingdom

Kent

TN1 1LF

REGISTERED NUMBER:

09644748 (England and Wales)

ACCOUNTANTS:

Synergee Limited

1 The Old Stables

Eridge Park

Tunbridge Wells

Kent

TN3 9JT

FIXED ASSETS

Intangible assets

4

103,177

115,316

Tangible assets

5

10,216

7,041

113,393

122,357

CURRENT ASSETS

Debtors

6

223,871

352,125

Cash at bank and in hand

102,273

52,724

326,144

404,849

CREDITORS

Amounts falling due within one year

7

(293,253

)

(292,138

)

NET CURRENT ASSETS

32,891

112,711

TOTAL ASSETS LESS CURRENT LIABILITIES

146,284

235,068

CREDITORS

Amounts falling due after more than one year

8

(126,032

)

(227,047

)

NET ASSETS

20,252

8,021

CAPITAL AND RESERVES

Called up share capital

258

358

Capital redemption reserve

100

-

Retained earnings

19,894

7,663

20,252

8,021

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 applicable to companies subject to the small companies regime.

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 17 December 2019 and were signed on its behalf by:

S J F Judd - Director

Mrs L E O'Flynn - Director

1.	STATUTORY INFORMATION

Core Law Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of

Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost

convention.

Turnover

Turnover is recognised to the extent it is probable that economic benefit will flow to the company, and that it can

be reliably measured. Turnover is measured at the fair value of consideration received or receivable, net of

discounts, rebates, VAT and other sales taxes.

Turnover from the provision of services is recognised in the period in which the services are provided in

accordance with the stage of completion of the contract when the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that consideration due will be received;

- the stage of completion of the contract at the reporting date can be measured reliably, and

- the costs incurred, or to be incurred, can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten 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.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

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.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors; loans from banks and other third parties; loans to

related parties and investments in non-puttable ordinary shares.

Debt instruments, other than those wholly payable or receivable within one year, including loans and other

accounts receivable and payable are initially measured at the present value of future cash flows, and

subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable

or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of

consideration expected to be paid or received. If the arrangements of a short term instrument constitute a

financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a

rate of interest that is not at a market rate, the financial asset or liability is initially measured at the present value

of future cash flows discounted at a market rate of interest for a similar debt instrument, and subsequently

measured at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment, and such impairments is recognised in total comprehensive income.

Cash and cash equivalents

Cash is represented by cash in hand and bank current and short term deposit accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 31 March 2018

and 30 March 2019

121,385

AMORTISATION

At 31 March 2018

6,069

Charge for year

12,139

At 30 March 2019

18,208

NET BOOK VALUE

At 30 March 2019

103,177

At 30 March 2018

115,316

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 31 March 2018

8,047

Additions

7,349

At 30 March 2019

15,396

DEPRECIATION

At 31 March 2018

1,006

Charge for year

4,174

At 30 March 2019

5,180

NET BOOK VALUE

At 30 March 2019

10,216

At 30 March 2018

7,041

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

137,791

181,791

Other debtors

86,080

170,334

223,871

352,125

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

124,649

145,504

Trade creditors

15,141

-

Taxation and social security

90,144

111,143

Other creditors

63,319

35,491

293,253

292,138

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

126,032

227,047

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

250,681

372,551

10.	PENSION COMMITMENTS

The charge for the year was £2,946 (2018 - £1,441). There were £251 of contributions due and not paid at the

reporting date for the current or comparative period.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Core Law Limited for the year ended 30 March 2019 which comprise the Income Statement,

Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Core Law Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Core Law Limited and state those matters that we have agreed to state to the Board of Directors of Core Law Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Core Law Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Core Law Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Core Law Limited. You consider that Core Law Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Core Law Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Synergee Limited

1 The Old Stables

Eridge Park

Tunbridge Wells

Kent

TN3 9JT

17 December 2019