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CHARLES A. MARSHALL LAWYERS LIMITED - Company Information

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Charles A Marshall Lawyers Limited

Registered Number:11139997

For the year ended 31 December 2020

England and Wales

Unaudited Financial Statements

For the year ended 31 December 2020

Charles A Marshall Lawyers Limited

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

Registered Number :

11139997

As at 31 December 2020

Charles A Marshall Lawyers Limited

Statement of Financial Position

2019

2020

Notes

Fixed assets

Property, plant and equipment

2,657

Current assets

Trade and other receivables

234,131

417,004

19,395

Cash and cash equivalents

23,988

440,992

253,526

Trade and other payables: amounts falling due within one

year

(48,315)

(87,625)

205,211

353,367

Net current assets

Total assets less current liabilities

356,024

205,211

Trade and other payables: amounts falling due after more

than one year

(260,620)

(368,287)

(12,263)

Net liabilities

(55,409)

Capital and reserves

Called up share capital

100

Retained earnings

(12,363)

(55,509)

(12,263)

(55,409)

Shareholders' funds

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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

Julia Rutter Director

These financial statements were approved and authorised for issue by the Board on 11 May 2021 and were signed by:

The notes form part of these financial statements

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For the year ended 31 December 2020

Charles A Marshall Lawyers Limited

Notes to the Financial Statements

Statutory Information

Charles A Marshall Lawyers Limited is a private limited company, limited by shares, domiciled in England and Wales,

registration number 11139997.

Registered address:

917 Garstang Road

Barton

Preston

Lancashire

PR3 5AB

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006.

The financial statements have been prepared under the historical costs convention as modified by the revaluation of

certain fixed assets and in accordance with the accounting policies set out below.

The financial statements are presented in £ sterling, which is the functional currency of the company.

Significant judgements and estimates

The company made a loss for the year and at the year end had a negative balance sheet. The director considers that the company will make profits in the foreseeable future and will be able to meet its liabilities as they fall due.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred, and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Property, plant and equipment

Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

15 Straight line

Computer Equipment

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.

Impairment of Fixed Assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine

whether there is any indication that those assets 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).

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For the year ended 31 December 2020

Charles A Marshall Lawyers Limited

Notes to the Financial Statements Continued

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance consitions is recognised in income when the performance conditions are met. Where a grant does not specify performance consditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. Employee BenefitsThe costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Cash at Bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other

short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts

are shown within borrowings in current liabilities.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the

company.

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For the year ended 31 December 2020

Charles A Marshall Lawyers Limited

Notes to the Financial Statements Continued

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price

including transaction costs and are subsequently carried at amortised cost using the effective interest method unless

the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are

not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment

at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred

after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is

impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated

cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or

loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment ws recognised, the

impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying

amount would have been, had the impairment not previously been recognised. The impairment reversal is

recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are

settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to

another entity, or if some significant risks and rewards of ownership are retained but control of the asset has

transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements

entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies, and preference shares

that are classified as debt are initially recognised at transaction price unless the arrangement constitutes a financing

transaction, where the debt instrument is measured at the present value of the future payments discounted at a

market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price

and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or

cancelled.

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For the year ended 31 December 2020

Charles A Marshall Lawyers Limited

Notes to the Financial Statements Continued

2. Property, plant and equipment

Computer

Equipment

Cost or

valuation

2,784

Additions

At 31 December 2020

2,784

Provision for depreciation and impairment

Charge for year

127

At 31 December 2020

127

At 31 December 2020

Net book value

2,657

3. Trade and other receivables

2019

2020

Trade debtors

115,127

53,575

Other debtors

301,877

180,556

234,131

417,004

4. Trade and other payables: amounts falling due within one year

2019

2020

Bank loans and overdraft

5,860

Trade creditors

4,222

Taxation and social security

43,617

21,956

Other creditors

33,926

26,358

87,625

48,315

5. Trade and other payables: amounts falling due after more than one year

2019

2020

Bank loans and overdraft

44,167

Other creditors

324,120

260,620

368,287

260,620

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For the year ended 31 December 2020

Charles A Marshall Lawyers Limited

Notes to the Financial Statements Continued

6. Average number of persons employed

During the year the average number of employees was 7 (2019 : 6)

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