Indigo Legal Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02932494 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

FOR

Indigo Legal Solutions Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M A S Stevens

D P Webber

SECRETARY:

REGISTERED OFFICE:

Brindley Lodge

Brownwich Lane

Titchfield

Hampshire

PO14 4NZ

REGISTERED NUMBER:

02932494 (England and Wales)

ACCOUNTANTS:

Parry Hancock

Chartered Accountants

Webb House

20 Bridge Road

Park Gate

Southampton

Hampshire

SO31 7GE

FIXED ASSETS

Tangible assets

4

6,773

6,652

CURRENT ASSETS

Debtors

5

173,270

232,546

Cash at bank and in hand

46,223

54,187

219,493

286,733

CREDITORS

Amounts falling due within one year

6

52,134

146,062

NET CURRENT ASSETS

167,359

140,671

TOTAL ASSETS LESS CURRENT LIABILITIES

174,132

147,323

PROVISIONS FOR LIABILITIES

1,086

1,019

NET ASSETS

173,046

146,304

CAPITAL AND RESERVES

Called up share capital

50

50

Retained earnings

172,996

146,254

173,046

146,304

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 and authorised for issue on 7 July 2020 and were signed on its behalf by:

M A S Stevens - Director

1.	STATUTORY INFORMATION

Indigo Legal Solutions 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 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.

Revenue - described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus

the value of work (net of VAT) performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is

recognised on the provision of services on a percentage degree of completion basis calculated by reference to the

time expended compared to the anticipated time.

Tangible fixed assets

The cost of tangible fixed assets includes only expenditure directly incurred in bringing the assets into working

condition for their intended use. Both the cost of replacing major components and the cost of major inspections

are capitalised. Borrowing costs are not capitalised. Depreciation is provided at the following annual rates in

order to allocate the depreciable amount of each asset over its estimated useful life.

Fixtures and fittings - 25% on cost

Computer equipment - 33% on cost

Assets held under finance leases are depreciated in the same way as owned assets.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine

whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the

recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any.

Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable

amount of the cash-generating unit to which the asset belongs.

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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the

balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where

material, provisions are calculated on a discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2019

25,091

61,092

86,183

Additions

-

6,236

6,236

Disposals

-

(55,134

)

(55,134

)

At 30 April 2020

25,091

12,194

37,285

DEPRECIATION

At 1 May 2019

22,273

57,258

79,531

Charge for year

979

4,060

5,039

Eliminated on disposal

-

(54,058

)

(54,058

)

At 30 April 2020

23,252

7,260

30,512

NET BOOK VALUE

At 30 April 2020

1,839

4,934

6,773

At 30 April 2019

2,818

3,834

6,652

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

11,342

61,461

Amounts owed by group undertakings

157,550

160,000

Other debtors

4,378

11,085

173,270

232,546

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade creditors

(22

)

158

Amounts owed to group undertakings

-

66,334

Taxation and social security

7,067

23,232

Other creditors

45,089

56,338

52,134

146,062

7.	EVENTS AFTER THE REPORTING DATE

Coronavirus and Hive Up

On 1 May 2020 the assets, liabilities and trade of the company were hived up to its parent company Indigo Legal

Systems Limited. From that date the ongoing trade was carried out by Indigo Legal Systems Limited.

The directors believe that Indigo Legal Systems Limited will continue to trade profitably beyond the current

crisis, given its significant cash resources together with the Government's measures under the Covid-19: Support

for Business initiative.