Haven Solicitors Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08656557 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 19 AUGUST 2013 TO 31 AUGUST 2014

FOR

HAVEN SOLICITORS LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

168,000

Tangible assets

3

9,502

177,502

CURRENT ASSETS

Debtors

23,526

Cash at bank

20,762

44,288

CREDITORS

Amounts falling due within one year

204,586

NET CURRENT LIABILITIES

(160,298

)

TOTAL ASSETS LESS CURRENT LIABILITIES

17,204

CREDITORS

Amounts falling due after more than one year

(8,501

)

PROVISIONS FOR LIABILITIES

(1,815

)

NET ASSETS

6,888

CAPITAL AND RESERVES

Called up share capital

4

11

Profit and loss account

6,877

SHAREHOLDERS' FUNDS

6,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 14 May 2015 and were signed by:

Mr R M Thompson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as

a small company.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost and 20% on cost

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

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

the period of the lease.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and

depreciated over their useful lives. Obligations under such agreements are included in creditors net of the

finance charge allocated to future periods. The finance element of the rental payment is charged to the profit

and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each

period.

Revenue recognition

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration

in exchange for the supply of goods and services that it provides. It is measured at the fair value of the right to

consideration, which represents amounts chargeable to customers.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

210,000

At 31 August 2014

210,000

AMORTISATION

Amortisation for period

42,000

At 31 August 2014

42,000

NET BOOK VALUE

At 31 August 2014

168,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

11,724

At 31 August 2014

11,724

DEPRECIATION

Charge for period

2,222

At 31 August 2014

2,222

NET BOOK VALUE

At 31 August 2014

9,502

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

5

Ordinary A

£1

5

5

Ordinary B

£1

5

1

Ordinary

£1

1

11

The following shares were issued during the period for cash at par :

5 Ordinary A shares of £1

5 Ordinary B shares of £1

1 Ordinary share of £1

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 August 2014:

£

Mr R M Thompson

Balance outstanding at start of period

-

Amounts advanced

76,938

Amounts repaid

(267,403

)

Balance outstanding at end of period

(190,465

)

The above loan is interest fee, unsecured and repayable on demand.

6.	RELATED PARTY TRANSACTIONS

On 31 May 2014, the company purchased goodwill and fixed assets totalling £210,500 from the director, Mr R

Thompson's sole trader business. This transaction took place on standard commercial terms.