Nowell Meller Solicitors Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 05536577 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2013

FOR

NOWELL MELLER SOLICITORS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

7

DIRECTORS:

Mrs D F Hackney

S P Kirwan

Mrs J A Matthewman

REGISTERED OFFICE:

7-8 St. Mary's Grove

Stafford

Staffordshire

ST16 2AT

REGISTERED NUMBER:

05536577 (England and Wales)

ACCOUNTANTS:

Poole Waterfield Limited

Priory House

2 Priory Road

Dudley

West Midlands

DY1 1HH

FIXED ASSETS

Intangible assets

2

204,500

219,750

Tangible assets

3

96,678

113,739

301,178

333,489

CURRENT ASSETS

Debtors

668,720

937,145

Cash at bank and in hand

293

99

669,013

937,244

CREDITORS

Amounts falling due within one year

4

866,850

752,788

NET CURRENT (LIABILITIES)/ASSETS

(197,837

)

184,456

TOTAL ASSETS LESS CURRENT LIABILITIES

103,341

517,945

CREDITORS

Amounts falling due after more than one year

4

(480,391

)

(503,140

)

PROVISIONS FOR LIABILITIES

-

(14,799

)

NET (LIABILITIES)/ASSETS

(377,050

)

6

CAPITAL AND RESERVES

Called up share capital

5

6

6

Profit and loss account

(377,056

)

-

SHAREHOLDERS' FUNDS

(377,050

)

6

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2013 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 August 2014 and were signed on its behalf by:

Mrs J A Matthewman - Director

Mrs D F Hackney - Director

1.	ACCOUNTING POLICIES

Accounting convention

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).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

Goodwill

Goodwill, being the amount paid in connection with the aquisition of the business of Nowell Meller

Solicitors on 1 November 2005 and the aquisition of Arthur Boulton & Son Solicitors on 1 November

2007, is being amortised evenly over its estimated useful life of twenty years.

Work in progress

Work in progress is accounted and defined in UITF 40 as issued by the ASB. It is the company policy

to recognise revenue over the time of a contract as it progresses with reference to the value of work

performed and with regard to contractual obligations. Work in progress is shown as ''Amounts

recoverable on contracts''.

Going concern

The financial statements of the company have been prepared on a going concern basis. The validity

of this basis depends upon the continued financial support of its bankers.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2012

and 31 October 2013

305,000

AMORTISATION

At 1 November 2012

85,250

Amortisation for year

15,250

At 31 October 2013

100,500

NET BOOK VALUE

At 31 October 2013

204,500

At 31 October 2012

219,750

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2012

and 31 October 2013

269,997

DEPRECIATION

At 1 November 2012

156,258

Charge for year

17,061

At 31 October 2013

173,319

NET BOOK VALUE

At 31 October 2013

96,678

At 31 October 2012

113,739

4.

CREDITORS

Creditors include an amount of £ 705,674 (31.10.12 - £ 848,422 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.10.13

31.10.12

as restated

£

£

Repayable otherwise than by instalments

97,056

-

Repayable by instalments

253,755

293,590

350,811

293,590

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.13

31.10.12

value:

as restated

£

£

6

Ordinary

£1

6

6

6.	TRANSACTIONS WITH DIRECTORS

The following loans to directors subsisted during the years ended 31 October 2013 and

31 October 2012:

31.10.13

31.10.12

as restated

£

£

Mrs J A Matthewman

Balance outstanding at start of year

86,595

63,215

Amounts advanced

7,800

35,153

Amounts repaid

-

(11,773

)

Balance outstanding at end of year

94,395

86,595

S P Kirwan

Balance outstanding at start of year

76,574

55,143

Amounts advanced

4,680

33,763

Amounts repaid

(10,024

)

(12,332

)

Balance outstanding at end of year

71,230

76,574

At 31st October 2012 a balance of £87,296 in respect of A J Hall (former director) was included in

'other debtors'. In the year ended 31st October 2013 the company has provided in full against this

balance. The company has not released A J Hall from his obligation to repay this debt.

The balances in respect of the directors current accounts of £165,625 (2012 - £163,169) are regarded

as amounts falling due after more than one year.

The loans in respect of the directors and A J Hall are unsecured and interest free.