MacLachlan Solicitors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07520343 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2019

for

MacLachlan Solicitors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

M E L Griffin

T N Gawler

Mrs J A Watson

REGISTERED OFFICE:

Maclachlan Solicitors

Long Street

Sherborne

Dorset

DT9 3BS

REGISTERED NUMBER:

07520343 (England and Wales)

ACCOUNTANTS:

Bennett Brooks & Co Limited

Chartered Accountants

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

FIXED ASSETS

Intangible assets

4

96,000

108,000

Tangible assets

5

7,019

9,005

103,019

117,005

CURRENT ASSETS

Debtors

6

122,108

107,877

Cash at bank and in hand

112,537

99,564

234,645

207,441

CREDITORS

Amounts falling due within one year

7

187,510

82,554

NET CURRENT ASSETS

47,135

124,887

TOTAL ASSETS LESS CURRENT LIABILITIES

150,154

241,892

CREDITORS

Amounts falling due after more than one year

8

59,600

40,000

NET ASSETS

90,554

201,892

CAPITAL AND RESERVES

Called up share capital

25

102

Capital redemption reserve

77

-

Retained earnings

90,452

201,790

90,554

201,892

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 19 July 2019 and were signed on its behalf by:

T N Gawler - Director

1.	STATUTORY INFORMATION

MacLachlan Solicitors 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Turnover represents services rendered, excluding value added tax, together with other provisions..

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, 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, 25% on reducing balance and 20% 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.

Share capital

Ordinary shares are classed as equity.

Distributions to equity holders

Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the

company's shareholders. These amounts are recognised in the statement of changes in equity.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are

measured at amortised cost using the effective interest rate method, less impairment.

Operating leases

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of

the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2018 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2018

and 30 April 2019

300,000

AMORTISATION

At 1 May 2018

192,000

Charge for year

12,000

At 30 April 2019

204,000

NET BOOK VALUE

At 30 April 2019

96,000

At 30 April 2018

108,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2018

and 30 April 2019

41,873

DEPRECIATION

At 1 May 2018

32,868

Charge for year

1,986

At 30 April 2019

34,854

NET BOOK VALUE

At 30 April 2019

7,019

At 30 April 2018

9,005

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

31,929

34,211

Other debtors

90,179

73,666

122,108

107,877

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

10,075

-

Taxation and social security

73,040

45,123

Other creditors

104,395

37,431

187,510

82,554

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

30,225

-

Other creditors

29,375

40,000

59,600

40,000

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due are £418,918 (2018 - £434,567).

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

40,300

-

Other loans

51,971

58,398

92,271

58,398

The company's bankers also have a debenture over the company's assets, dated 14 April 2011.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

T Gawler has guaranteed the bank borrowing and facility's to a value of £100,000,

There is also a fixed and floating debenture over the assets of the company.

12.	ULTIMATE CONTROLLING PARTY

T Gawler is the ultimate controlling party by virtue of his majority shareholding in the company.

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 MacLachlan Solicitors Limited for the year ended 30 April 2019 which comprise the Income Statement, Balance Sheet,

Statement of Changes in Equity 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 MacLachlan Solicitors 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 MacLachlan Solicitors Limited and state those matters that we have agreed to state to the Board of Directors of MacLachlan Solicitors 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 MacLachlan Solicitors Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MacLachlan Solicitors 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 MacLachlan Solicitors Limited. You consider that MacLachlan Solicitors 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 MacLachlan Solicitors 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.

Bennett Brooks & Co Limited

Chartered Accountants

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

19 July 2019