OLD_BAILEY_SOLICITORS_LIM - Accounts

OLD BAILEY SOLICITORS LIMITED - Company Information

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Company Registration No. 08640371 (England and Wales)

OLD BAILEY SOLICITORS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2014

OLD BAILEY SOLICITORS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

OLD BAILEY SOLICITORS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2014

- 1 -

2014

Notes

Fixed assets

Intangible assets

288,506

Tangible assets

11,406

299,912

Current assets

Debtors

313,610

Cash at bank and in hand

256,661

570,271

Creditors: amounts falling due within one year

(610,095)

Net current liabilities

(39,824)

Total assets less current liabilities

260,088

Provisions for liabilities

(2,281)

257,807

Capital and reserves

Called up share capital

Profit and loss account

257,805

Shareholders' funds

257,807

For the financial period ended 30 November 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 17 March 2015

Mr R C Hayler

Director

Company Registration No. 08640371

OLD BAILEY SOLICITORS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 30 NOVEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts chargeable for services net of VAT. Turnover is recognised when a right to consideration has been obtained through performance of work and accrues in relation to the value of work done. Unbilled work performed is included in work in progress.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% straight line

Fixtures, fittings & equipment

33% straight line

1.6

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

OLD BAILEY SOLICITORS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 30 NOVEMBER 2014

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 6 August 2013

Additions

323,785

27,389

351,174

At 30 November 2014

323,785

27,389

351,174

Depreciation

At 6 August 2013

Charge for the period

35,279

15,983

51,262

At 30 November 2014

35,279

15,983

51,262

Net book value

At 30 November 2014

288,506

11,406

299,912

Share capital

2014

Allotted, called up and fully paid

2 Ordinary shares of £1 each

On incorporation 2 ordinary shares of £1 each were allotted and fully paid at par.