Ellis & Co Solicitors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08391043 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2019

for

Ellis & Co Solicitors Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J W Ellis

Ms S R Brown

Miss R L Burke

REGISTERED OFFICE:

10 Castle Street

Chester

Cheshire

CH1 2DS

REGISTERED NUMBER:

08391043 (England and Wales)

ACCOUNTANTS:

Pursglove & Brown

Military House

24 Castle Street

Chester

Cheshire

CH1 2DS

FIXED ASSETS

Intangible assets

4

40,000

50,000

Tangible assets

5

2,758

2,501

42,758

52,501

CURRENT ASSETS

Work in progress

10,000

10,000

Debtors

6

31,192

25,606

Cash at bank and in hand

38

72

41,230

35,678

CREDITORS

Amounts falling due within one year

7

(73,969

)

(58,622

)

NET CURRENT LIABILITIES

(32,739

)

(22,944

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,019

29,557

PROVISIONS FOR LIABILITIES

(524

)

(475

)

NET ASSETS

9,495

29,082

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

9,493

29,080

SHAREHOLDERS' FUNDS

9,495

29,082

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 28 November 2019 and were signed on its behalf by:

J W Ellis - Director

Ms S R Brown - Director

Miss R L Burke - Director

1.	STATUTORY INFORMATION

Ellis & Co Solicitors 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.

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.

The financial statements are presented in sterling which is the functional currency of the company, rounded to

the nearest £1.

Turnover

Turnover represents the net value of services provided, 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 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

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

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 11 (2018 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2018

and 31 May 2019

100,000

AMORTISATION

At 1 June 2018

50,000

Charge for year

10,000

At 31 May 2019

60,000

NET BOOK VALUE

At 31 May 2019

40,000

At 31 May 2018

50,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2018

4,014

Additions

744

At 31 May 2019

4,758

DEPRECIATION

At 1 June 2018

1,513

Charge for year

487

At 31 May 2019

2,000

NET BOOK VALUE

At 31 May 2019

2,758

At 31 May 2018

2,501

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

19,357

16,478

Other debtors

11,835

9,128

31,192

25,606

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Bank loans and overdrafts

37,199

11,199

Trade creditors

5,445

4,278

Taxation and social security

27,663

34,470

Other creditors

3,662

8,675

73,969

58,622

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.19

31.5.18

£

£

Bank overdrafts

26,782

11,199

Bank loans

10,417

-

37,199

11,199

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £29,167 (2018 - £54,055) were paid to the directors .

The company leases its premises on normal commercial terms from J W Ellis (the director and shareholder).

During the year the company paid rent to J W Ellis totalling £14,400 (2018: £10,440).