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

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

AMV LAW LIMITED - Company Information

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REGISTERED NUMBER: 06807805 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

AMV LAW LIMITED
AMV LAW LIMITED (REGISTERED NUMBER: 06807805)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


AMV LAW LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2019







DIRECTORS: Mrs A Theodorides
Mr S J Patel
Mr K Ahmed Ashraf
Ms A Smart





REGISTERED OFFICE: North London Business Park
Building 3,
Oakleigh Road South
London
N11 1GN





REGISTERED NUMBER: 06807805 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA
Page 1
AMV LAW LIMITED (REGISTERED NUMBER: 06807805)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 18,532
Property, plant and equipment 5 48,830 38,641
48,830 57,173

CURRENT ASSETS
Debtors 6 1,239,127 812,152
Cash at bank 1,085,357 1,747,374
2,324,484 2,559,526
CREDITORS
Amounts falling due within one year 7 357,112 345,584
NET CURRENT ASSETS 1,967,372 2,213,942
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,016,202
2,271,115

CAPITAL AND RESERVES
Called up share capital 11 1
Retained earnings 2,016,191 2,271,114
SHAREHOLDERS' FUNDS 2,016,202 2,271,115

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2020 and
were signed on its behalf by:





Mrs A Theodorides - Director


The notes form part of these financial statements

Page 2
AMV LAW LIMITED (REGISTERED NUMBER: 06807805)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

1. STATUTORY INFORMATION

AMV 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. 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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period. or in the period of the revision and future periods where the revision affects both current and future
periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the invoiced value of services supplied by the company, net of value added tax and trade
discounts. Revenue is recognised when services are rendered to customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Property plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment
losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances
indicate the carrying value may not be recoverable.

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

Plant and machinery - 25% on reducing balance.

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is
provided in the year of disposal

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 statement of financial position date.


Page 3 continued...
AMV LAW LIMITED (REGISTERED NUMBER: 06807805)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material 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.

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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term
deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid
investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of
changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit
or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised
in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2018 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2019
and 31 December 2019 222,386
AMORTISATION
At 1 January 2019 203,854
Charge for year 18,532
At 31 December 2019 222,386
NET BOOK VALUE
At 31 December 2019 -
At 31 December 2018 18,532

Page 4 continued...
AMV LAW LIMITED (REGISTERED NUMBER: 06807805)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 January 2019 134,486
Additions 19,849
At 31 December 2019 154,335
DEPRECIATION
At 1 January 2019 95,845
Charge for year 9,660
At 31 December 2019 105,505
NET BOOK VALUE
At 31 December 2019 48,830
At 31 December 2018 38,641

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 700,842 713,175
Amounts owed by group undertakings 495,381 -
Other debtors 42,904 98,977
1,239,127 812,152

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 64,100 65,943
Taxation and social security 264,822 247,697
Other creditors 28,190 31,944
357,112 345,584

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.

9. POST BALANCE SHEET EVENTS

The COVID-19 pandemic occurred after the Company's year-end. The directors have carefully considered the
likely effect of the COVID-19 pandemic on the future performance of the company and consider that it is likely to
have adverse impact on the business of the company in the short term. However, the directors consider that the
company has sufficient resources to enable it to remain in operational existence for the foreseeable future.

10. PENSION COSTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately
from those of the company in an independently administered fund. The pension cost charge represents
contributions payable by the company to the fund and amounted to £31,709 (2018 : £18,351)

Page 5