LEGAL_REPORTS_AND_SERVICE - Accounts

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Legal Reports and Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 Park Row, Nottingham, NG1 6GR.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is a member of a group of companies that has undertaken a restruction during the period.

As part of that restructure, the directors have confirmed they will support the company for at least 12 months following the date of signing these accounts.

Turnover in the statement of comprehensive income represents amounts invoiced during the year excluding VAT. Turnover is recognised by the company upon the issue of medico-legal reports to clients on a case by case basis.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives of 3 years.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The average monthly number of persons (including directors) employed by the company during the year was:

The directors are of the opinion that due to the generally poor administration and credit control of their suppliers, invoices for payment have remained on the purchase ledger. In light of this the directors also consider that it is not sensible commercial practice to chase suppliers to ascertain whether they would like payment for invoices which they have not chased themselves. Therefore it is inevitable, because of the nature of most suppliers, that there will be old purchase ledger balances. During the year the directors review the balances regularly to identify potential overstatement.

After the reporting date the controlling party of the company changed to Tuco Consulting Limited.

During the period the Company entered into transactions, in the ordinary course of business, with other related parties. The Company has taken advantage of the exemption under FRS 102 not to disclose transactions with fellow wholly owned subsidiaries.

At 31 March 2020 the parent company of Legal Reports and Services Limited was Torridon Capital Limited and its registered office is Kintyre House 205 West George Street, Glasgow, G2 2LW.

The ultimate parent at 31 March 2020 was Amitrip Holdings Limited, a company registered in England and Wales. The registered office is 14 Park Row, Park Row, Nottingham, NG1 6GR.

After the year end the parent company and ultimate parent changed to Tuco Consulting Limited, a company registered in England and Wales. The registered office is 1st Floor, 2 Woodbury Grove, Finchley, London, N12 0DR.