SC Solicitors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08123374 (England and Wales)

SC SOLICITORS LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S A Choudhry

REGISTERED OFFICE:

267 - 269 High Street

Erdington

Birmingham

West Midlands

B23 6SR

REGISTERED NUMBER:

08123374 (England and Wales)

ACCOUNTANTS:

Phoenix Business Associates Limited

Chartered Certified Accountants

The Riding School House

Bulls Lane

Wishaw

Sutton Coldfield

West Midlands

B76 9QW

FIXED ASSETS

Tangible assets

4

99

116

CURRENT ASSETS

Debtors

5

47,285

1,945

Cash at bank

21,221

32,088

68,506

34,033

CREDITORS

Amounts falling due within one year

6

13,349

43,625

NET CURRENT ASSETS/(LIABILITIES)

55,157

(9,592

)

TOTAL ASSETS LESS CURRENT LIABILITIES

55,256

(9,476

)

CREDITORS

Amounts falling due after more than one year

7

45,000

-

NET ASSETS/(LIABILITIES)

10,256

(9,476

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

10,255

(9,477

)

SHAREHOLDERS' FUNDS

10,256

(9,476

)

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 director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 May 2021 and were signed by:

S A Choudhry - Director

1.	STATUTORY INFORMATION

SC Solicitors 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.

The company's balance sheet shows an insolvent position. However, the main creditors of the company is the director himself, having funded significant expenses on behalf of the company during the year. Accordingly the director believes the going concern basis of preparation to be appropriate.

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

950

DEPRECIATION

At 1 April 2020

834

Charge for year

17

At 31 March 2021

851

NET BOOK VALUE

At 31 March 2021

99

At 31 March 2020

116

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Amounts owed by participating interests

120

120

Other debtors

47,165

1,825

47,285

1,945

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Bank loans and overdrafts

5,000

-

Trade creditors

840

840

Taxation and social security

6,012

-

Other creditors

1,497

42,785

13,349

43,625

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/21

31/3/20

£

£

Bank loans

45,000

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

5,000

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/21

31/3/20

£

£

Bank loans

50,000

-

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

31/3/21

31/3/20

£

£

S A Choudhry

Balance outstanding at start of year

(42,084

)

(47,227

)

Amounts advanced

42,500

(1,108

)

Amounts repaid

(1,213

)

6,251

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(797

)

(42,084

)