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

REGISTERED NUMBER: 09994001 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

SOUSA LAW LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs C T Sousa

REGISTERED OFFICE:

16 College Place

Southampton

Hampshire

SO15 2FE

REGISTERED NUMBER:

09994001 (England and Wales)

FIXED ASSETS

Intangible assets

5

6,660

8,880

Tangible assets

6

12,756

27,169

19,416

36,049

CURRENT ASSETS

Stocks

4,881

9,861

Debtors

7

42,457

51,740

Cash in hand

58

2,388

47,396

63,989

CREDITORS

Amounts falling due within one year

8

75,019

148,241

NET CURRENT LIABILITIES

(27,623

)

(84,252

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(8,207

)

(48,203

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(8,307

)

(48,303

)

SHAREHOLDERS' FUNDS

(8,207

)

(48,203

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 22 January 2020 and were signed by:

Mrs C T Sousa - Director

1.	STATUTORY INFORMATION

Sousa 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

This is the first year that the company has presented its financial statements under Section 1A "Small Entities" of

Financial Reporting Standard 102 (FRS 102 Section 1A) issued by the Financial Reporting Council. The last

financial statements, for the year ended 30 September 2018, were prepared under FRS 105. The transition date

to FRS 102 Section 1A is therefore 1 October 2018.

Adopting FRS 102 Section 1A has not resulted in any changes to the company's existing accounting policies

which were being applied prior to transition. There was no change to the reported profit and loss account or

closing equity position of the business for the year ended 30 September 2018 as a result of the transition, nor to

the opening equity position at the date of transition.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of

Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done

in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and

contracts for on-going services is recognised by reference to the stage of completion.

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 five 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.

Fixtures and fittings

-

25% straight line

All fixed assets are initially recorded at 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.

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

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2018 - 10 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2018

and 30 September 2019

11,100

AMORTISATION

At 1 October 2018

2,220

Amortisation for year

2,220

At 30 September 2019

4,440

NET BOOK VALUE

At 30 September 2019

6,660

At 30 September 2018

8,880

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 October 2018

and 30 September 2019

6,786

51,142

57,928

DEPRECIATION

At 1 October 2018

3,676

27,083

30,759

Charge for year

1,697

12,716

14,413

At 30 September 2019

5,373

39,799

45,172

NET BOOK VALUE

At 30 September 2019

1,413

11,343

12,756

At 30 September 2018

3,110

24,059

27,169

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

31,781

44,651

Other debtors

10,676

7,089

42,457

51,740

Included in other debtors is £10,676 (2018: £7,089) in relation to prepayments and accrued income.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

14,912

18,735

Trade creditors

6,052

10,560

Taxation and social security

30,697

45,634

Other creditors

23,358

73,312

75,019

148,241

Included in other creditors is £4,900 (2018: £4,636) in relation to accruals and deferred income.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

1

100

100

10.	OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet

amount to £178,446 (2018: £179,203).

This amount is in relation to operating lease commitments which are payable over the next 6 years.