Austin Kemp Solicitors Limited 29/02/2020 iXBRL

Austin Kemp Solicitors Limited 29/02/2020 iXBRL

AUSTIN KEMP SOLICITORS LIMITED - Company Information

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29/02/2020 2020-02-29 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2019-03-01 Sage Accounts Production 20.0 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 06818709 2019-03-01 2020-02-29 06818709 2020-02-29 06818709 2019-02-28 06818709 2018-03-01 2019-02-28 06818709 2019-02-28 06818709 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2019-03-01 2020-02-29 06818709 core:LandBuildings core:ShortLeaseholdAssets 2019-03-01 2020-02-29 06818709 core:FurnitureFittingsToolsEquipment 2019-03-01 2020-02-29 06818709 bus:RegisteredOffice 2019-03-01 2020-02-29 06818709 bus:LeadAgentIfApplicable 2019-03-01 2020-02-29 06818709 bus:Director1 2019-03-01 2020-02-29 06818709 core:IntangibleAssetsOtherThanGoodwill 2019-02-28 06818709 core:IntangibleAssetsOtherThanGoodwill 2020-02-29 06818709 core:PlantMachinery 2019-02-28 06818709 core:FurnitureFittingsToolsEquipment 2019-02-28 06818709 core:PlantMachinery 2020-02-29 06818709 core:FurnitureFittingsToolsEquipment 2020-02-29 06818709 core:WithinOneYear 2020-02-29 06818709 core:WithinOneYear 2019-02-28 06818709 core:ShareCapital 2020-02-29 06818709 core:ShareCapital 2019-02-28 06818709 core:RetainedEarningsAccumulatedLosses 2020-02-29 06818709 core:RetainedEarningsAccumulatedLosses 2019-02-28 06818709 core:BetweenOneFiveYears 2020-02-29 06818709 core:BetweenOneFiveYears 2019-02-28 06818709 core:IntangibleAssetsOtherThanGoodwill 2019-03-01 2020-02-29 06818709 core:IntangibleAssetsOtherThanGoodwill 2019-02-28 06818709 core:FurnitureFittingsToolsEquipment 2019-02-28 06818709 bus:SmallEntities 2019-03-01 2020-02-29 06818709 bus:AuditExempt-NoAccountantsReport 2019-03-01 2020-02-29 06818709 bus:FullAccounts 2019-03-01 2020-02-29 06818709 bus:SmallCompaniesRegimeForAccounts 2019-03-01 2020-02-29 06818709 bus:PrivateLimitedCompanyLtd 2019-03-01 2020-02-29 06818709 core:Buildings 2019-02-28 06818709 core:Buildings 2020-02-29 06818709 core:Buildings 2019-03-01 2020-02-29 06818709 1 2019-03-01 2020-02-29
Company registration number: 06818709
Austin Kemp Solicitors Limited
Unaudited filleted financial statements
29 February 2020
Austin Kemp Solicitors Limited
Directors and other information
Director Mr A S Kooner
Company number 06818709
Registered office St.Andrew House
The Headrow
Leeds
LS1 5JW
Business address St. Andrew House
The Headrow
Leeds
LS1 5JW
Accountants Hodgson Hey Limited
Heritage Exchange
South Lane
Elland
HX5 0HG
Austin Kemp Solicitors Limited
Statement of financial position
29 February 2020
2020 2019
Note £ £ £ £
Fixed assets
Intangible assets 5 25,267 41,975
Tangible assets 6 18,703 19,516
_______ _______
43,970 61,491
Current assets
Debtors 7 328,200 378,343
Cash at bank and in hand 125,430 82,492
_______ _______
453,630 460,835
Creditors: amounts falling due
within one year 8 ( 238,465) ( 284,618)
_______ _______
Net current assets 215,165 176,217
_______ _______
Total assets less current liabilities 259,135 237,708
Provisions for liabilities ( 3,554) ( 10,000)
_______ _______
Net assets 255,581 227,708
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 255,580 227,707
_______ _______
Shareholders funds 255,581 227,708
_______ _______
For the year ending 29 February 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 February 2021 , and are signed on behalf of the board by:
Mr A S Kooner
Director
Company registration number: 06818709
Austin Kemp Solicitors Limited
Notes to the financial statements
Year ended 29 February 2020
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Austin Kemp Solicitors Limited, St.Andrew House, The Headrow, Leeds, LS1 5JW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website development costs - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements - 10 % straight line
Fittings fixtures and equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2019: 10 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 March 2019 and 29 February 2020 83,539 83,539
_______ _______
Amortisation
At 1 March 2019 41,564 41,564
Charge for the year 16,708 16,708
_______ _______
At 29 February 2020 58,272 58,272
_______ _______
Carrying amount
At 29 February 2020 25,267 25,267
_______ _______
At 28 February 2019 41,975 41,975
_______ _______
6. Tangible assets
Computer equipment Fixtures, fittings and equipment Leasehold improvements Total
£ £ £ £
Cost
At 1 March 2019 6,799 18,940 9,780 35,519
Additions - 2,119 - 2,119
_______ _______ _______ _______
At 29 February 2020 6,799 21,059 9,780 37,638
_______ _______ _______ _______
Depreciation
At 1 March 2019 6,799 8,001 1,203 16,003
Charge for the year - 1,894 1,038 2,932
_______ _______ _______ _______
At 29 February 2020 6,799 9,895 2,241 18,935
_______ _______ _______ _______
Carrying amount
At 29 February 2020 - 11,164 7,539 18,703
_______ _______ _______ _______
At 28 February 2019 - 10,939 8,577 19,516
_______ _______ _______ _______
7. Debtors
2020 2019
£ £
Trade debtors 302,214 346,881
Other debtors 25,986 31,462
_______ _______
328,200 378,343
_______ _______
8. Creditors: amounts falling due within one year
2020 2019
£ £
Bank loans and overdrafts 73,991 110,609
Corporation tax 53,307 76,646
Social security and other taxes 106,355 94,551
Other creditors 4,812 2,812
_______ _______
238,465 284,618
_______ _______
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 34,112 34,112
Later than 1 year and not later than 5 years 68,224 102,336
_______ _______
102,336 136,448
_______ _______
10. Controlling party
The company was controlled throughout the year by Mr A S Kooner.