Nowell Meller Solicitors Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05536577 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2014

FOR

NOWELL MELLER SOLICITORS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

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

189,250

204,500

Tangible assets

3

71,488

96,678

260,738

301,178

CURRENT ASSETS

Debtors

4

645,912

668,720

Cash at bank and in hand

65,962

293

711,874

669,013

CREDITORS

Amounts falling due within one year

5

574,346

866,850

NET CURRENT ASSETS/(LIABILITIES)

137,528

(197,837

)

TOTAL ASSETS LESS CURRENT LIABILITIES

398,266

103,341

CREDITORS

Amounts falling due after more than one year

5

719,832

480,391

NET LIABILITIES

(321,566

)

(377,050

)

CAPITAL AND RESERVES

Called up share capital

6

6

6

Profit and loss account

(321,572

)

(377,056

)

SHAREHOLDERS' FUNDS

(321,566

)

(377,050

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 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 18 June 2015 and were signed on its behalf by:

S P Kirwan - Director

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, and movements in

work in progress.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

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. In respect of fixed fee work which is unbilled at

the year end it is the company's policy to recognise the full amount of the fee as income. 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 and principal creditors.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

and 31 October 2014

305,000

AMORTISATION

At 1 November 2013

100,500

Amortisation for year

15,250

At 31 October 2014

115,750

NET BOOK VALUE

At 31 October 2014

189,250

At 31 October 2013

204,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

269,997

Disposals

(4,992

)

At 31 October 2014

265,005

DEPRECIATION

At 1 November 2013

173,319

Charge for year

23,829

Eliminated on disposal

(3,631

)

At 31 October 2014

193,517

NET BOOK VALUE

At 31 October 2014

71,488

At 31 October 2013

96,678

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 210,335 (31.10.13 - £ 165,625

)

5.

CREDITORS

Creditors include an amount of £ 728,677 (31.10.13 - £ 705,674 ) for which security has been given.

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

31.10.14

31.10.13

£

£

Repayable otherwise than by instalments

143,458

97,056

Repayable by instalments

283,919

253,755

427,377

350,811

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

6

Ordinary

£1

6

6

7.	TRANSACTIONS WITH DIRECTORS

31.10.14

31.10.13

£

£

Mrs J A Matthewman

Balance outstanding at start of year

94,395

86,595

Amounts advanced

7,200

7,800

Amounts reallocated to other participators

(12,133

)

-

Amounts repaid

-

-

Balance outstanding at end of year

89,462

94,395

S P Kirwan

Balance outstanding at start of year

71,230

76,574

Amounts advanced

4,320

4,680

Amounts reallocated from J A Matthewman

6,066

-

Amounts repaid

(378

)

(10,024

)

81,238

71,230

The balances in respect of the directors current accounts of £170,700 (2013 - £165,625) are regarded

as amounts falling due after more than one year.

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