Neath Raisbeck Golding Law Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05632155 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Neath Raisbeck Golding Law Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

V L Neath

P Golding

M Ridgwell

REGISTERED OFFICE:

Bush House

77, 79 & 81 Alma Road

Clifton

Bristol

BS8 2DP

REGISTERED NUMBER:

05632155 (England and Wales)

ACCOUNTANTS:

Pure Professionals Limited

Chartered Accountants & Tax Advisers

12 Whiteladies Road

Clifton

Bristol

BS8 1PD

BANKERS:

Metro Bank

One Southampton Row

London

WC1B 5HA

FIXED ASSETS

Intangible assets

4

26,000

39,000

Tangible assets

5

18,783

9,654

44,783

48,654

CURRENT ASSETS

Stocks

33,250

23,500

Debtors

6

359,024

238,591

Cash at bank

206,656

99,339

598,930

361,430

CREDITORS

Amounts falling due within one year

7

348,150

237,837

NET CURRENT ASSETS

250,780

123,593

TOTAL ASSETS LESS CURRENT LIABILITIES

295,563

172,247

CREDITORS

Amounts falling due after more than one year

8

(41,667

)

-

PROVISIONS FOR LIABILITIES

(3,552

)

(1,910

)

NET ASSETS

250,344

170,337

CAPITAL AND RESERVES

Called up share capital

1,427

1,427

Retained earnings

248,917

168,910

250,344

170,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2021 and were signed on its behalf by:

V L Neath - Director

P Golding - Director

1.	STATUTORY INFORMATION

Neath Raisbeck Golding Law Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

33% on cost

Government grants

During the year the company was impacted by COVID-19 and as a result government grants were received in relation to the job retention scheme amounting to £45,002.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2020 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

65,000

AMORTISATION

At 1 April 2020

26,000

Amortisation for year

13,000

At 31 March 2021

39,000

NET BOOK VALUE

At 31 March 2021

26,000

At 31 March 2020

39,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2020

11,279

26,635

37,914

Additions

14,759

520

15,279

At 31 March 2021

26,038

27,155

53,193

DEPRECIATION

At 1 April 2020

6,461

21,799

28,260

Charge for year

2,936

3,214

6,150

At 31 March 2021

9,397

25,013

34,410

NET BOOK VALUE

At 31 March 2021

16,641

2,142

18,783

At 31 March 2020

4,818

4,836

9,654

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

227,137

178,852

Other debtors

131,887

59,739

359,024

238,591

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts (see note 9)

8,333

-

Trade creditors

15,369

19,750

Taxation and social security

207,019

138,465

Other creditors

117,429

79,622

348,150

237,837

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans (see note 9)

41,667

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

41,667

-

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.21

31.3.20

£

£

Amounts falling due within one year or on demand:

Bank loans

8,333

-

Other loans

113,340

52,271

121,673

52,271

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

41,667

-

During the year the company took out a Bounceback loan as a result of the impact of COVID-19 which amounted to £50,000. Repayments will begin in July 2021 and the loan will be repaid over a period of 6 years.