Pensions For Family Lawyers Limited - Period Ending 2014-12-31

Registration number: 04654320

Pensions For Family Lawyers Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2014
 

King and Taylor Limited
4th Floor, Joynes House
New Road
Gravesend
Kent
DA11 0AT

Pensions For Family Lawyers Limited
Contents

Company Information 1

Directors' Report 2

Accountants' Report 3

Profit and Loss Account 4

Balance Sheet 5

Notes to the Financial Statements 6 to 8

Pensions For Family Lawyers Limited
Company Information

Directors

Mr Robin Charles Ellison Ms Margaret Anne Rae Mr David Arthur Salter

Registered office

384 Sea Front Hayling Island Hamphsire PO11 0BD

Bankers

Adam & Company plc 22 King Street London SW1Y 6QY

Accountants

King and Taylor Limited 4th Floor, Joynes House New Road Gravesend Kent DA11 0AT

Page 1

Pensions For Family Lawyers Limited
Directors' Report for the Year Ended 31 December 2014

The directors present their report and the unaudited financial statements for the year ended 31 December 2014.

Directors of the company

The directors who held office during the year were as follows:

Mr Robin Charles Ellison

Ms Margaret Anne Rae

Mr David Arthur Salter

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 19 June 2015 and signed on its behalf by:

.........................................
Mr Robin Charles Ellison
Director

Page 2

Chartered Management Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pensions For Family Lawyers Limited
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pensions For Family Lawyers Limited for the year ended 31 December 2014 set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the The Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at www.cimaglobal.co.uk.

This report is made solely to the Board of Directors of Pensions For Family Lawyers Limited , as a body, in accordance with the terms of our engagement letter dated 26 October 2009 . Our work has been undertaken solely to prepare for your approval the accounts of Pensions For Family Lawyers Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with The Chartered Institute of Management Accountants as detailed at www.cimaglobal.com . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pensions For Family Lawyers Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pensions For Family Lawyers Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pensions For Family Lawyers Limited. You consider that Pensions For Family Lawyers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Pensions For Family Lawyers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

King and Taylor Limited
4th Floor, Joynes House
New Road
Gravesend
Kent
DA11 0AT

22 June 2015

Page 3

Pensions For Family Lawyers Limited
Profit and Loss Account for the Year Ended 31 December 2014

		Note			2014 £			2013 £
Turnover					13,352			19,575
Cost of sales					-			(72)
Gross profit					13,352			19,503
Administrative expenses					(871)			(897)
Operating profit					12,481			18,606
Profit on ordinary activities before taxation					12,481			18,606
Profit for the financial year		6			12,481			18,606

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 4

Pensions For Family Lawyers Limited
(Registration number: 04654320)
Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Current assets
Debtors		3			82			4,357
Cash at bank and in hand					1,076			1,353
					1,158			5,710
Creditors: Amounts falling due within one year		4			(1,818)			(18,851)
Net liabilities					(660)			(13,141)
Capital and reserves
Called up share capital		5			1,000			1,000
Profit and loss account		6			(1,660)			(14,141)
Shareholders' deficit					(660)			(13,141)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the Board on 19 June 2015 and signed on its behalf by:

.........................................
Mr Robin Charles Ellison
Director

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 5

Pensions For Family Lawyers Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

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).

Going concern

The deficit on the balance sheet is fully covered by loans due to directors and the directors have no intention of recalling these loans in the near future.The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Deferred tax

Deferred taxation is provided on the liability method to take account of the timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. The company has not adopted the policy of discounting deferred tax assets and liabilities.

2	Tangible fixed assets

		Plant and machinery £			Total £
Cost or valuation
At 1 January 2014		2,367			2,367
Depreciation
At 1 January 2014		2,367			2,367
Net book value
At 31 December 2014		-			-
At 31 December 2013		-			-

3

Debtors

		2014 £			2013 £
Trade debtors		82			4,357

Page 6

Pensions For Family Lawyers Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

4	Creditors: Amounts falling due within one year

		2014 £			2013 £
Other taxes and social security		994			1,253
Other creditors		824			17,598
		1,818			18,851

5	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

6

Reserves

		Profit and loss account £			Total £
At 1 January 2014		(14,141)			(14,141)
Profit for the year		12,481			12,481
At 31 December 2014		(1,660)			(1,660)

7	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

R C Ellison (Director) . At the balance sheet date the amount due to R C Ellison was £nil (2013 - £7,432).

M A Rae (Director) . At the balance sheet date the amount due to M A Rae was £nil (2013 - £6,594).

D A Salter (Director) . At the balance sheet date the amount due to D A Salter was £nil (2013 - £2,744).

Page 7

Pensions For Family Lawyers Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

8

Control

The company is controlled by the directors who own 100% of the called up share capital.

Page 8