Jones Law Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 06969904

Jones Law Limited

Filleted unaudited financial statements

30 June 2021

Jones Law Limited

Statement of financial position

30 June 2021

	30 Jun 21		31 Mar 20
Note	£	£	£	£

Fixed assets

Tangible assets	4		436		300,442

Current assets

Debtors	5	4,741	28,438
Cash at bank and in hand		269,788	85,491
		---------	---------
		274,529	113,929

Creditors: amounts falling due within one year	6	( 50,222)		( 87,126)
		---------		---------
Net current assets			224,307		26,803
			---------		---------
Total assets less current liabilities			224,743		327,245
			---------		---------
Net assets			224,743		327,245
			---------		---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	224,742	327,244
	---------	---------
Shareholders funds	224,743	327,245
	---------	---------

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 Section 1A of 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 income and retained earnings has not been delivered.

For the period ending 30th June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 10 May 2022 , and are signed on behalf of the board by:

Mr P G Jones

Director

Company registration number: 06969904

Jones Law Limited

Notes to the financial statements

Period from 1st April 2020 to 30th June 2021

1. General information

The principal activity of the company is legal consultancy work. The company is a private company limited by shares, which is incorporated in England and Wales (no 06969904 ). The address of the registered office is Greystones, 18A Duchy Road, Harrogate, HG1 2EP.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Going concern

The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months and so the accounts have been prepared on a going concern basis. In arriving at this conclusion, the directors have given due consideration to the impact of the worldwide Covid-19 pandemic on future operations and the ability of the company to continue to operate as a going concern. Although to date the pandemic has not had a significant, immediate impact on the company's operations, the directors recognise that the situation remains highly fluid and as a result making accurate forecasts on the likely implications is difficult.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of 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 profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

	Office equipment	-	`33% straight line`

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Tangible assets

Land and buildings	Equipment	Total
£	£	£

Cost
At 1st April 2020	300,000	1,891	301,891
Additions	–	361	361
Disposals	( 300,000)	–	( 300,000)
	---------	------	---------
At 30th June 2021	–	2,252	2,252
	---------	------	---------
Depreciation
At 1st April 2020	–	1,449	1,449
Charge for the period	–	367	367
	---------	------	---------
At 30th June 2021	–	1,816	1,816
	---------	------	---------
Carrying amount
At 30th June 2021	–	436	436
	---------	------	---------
At 31st March 2020	300,000	442	300,442
	---------	------	---------

5. Debtors

	30 Jun 21	31 Mar 20
	£	£

Trade debtors	4,739	28,436
Other debtors	2	2
	------	-------
	4,741	28,438
	------	-------

6. Creditors: amounts falling due within one year

	30 Jun 21	31 Mar 20
	£	£

Trade creditors	2,370	–
Accruals and deferred income	3,560	2,289
Corporation tax	10,540	19,267
Social security and other taxes	2,840	4,988
Director loan accounts	30,912	56,201
Other creditors	–	4,381
	-------	-------
	50,222	87,126
	-------	-------