MK Law Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10688742 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st August 2020

for

MK Law Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M S Sidhu

Mrs K K Sidhu

REGISTERED OFFICE:

12 Parliament Street

Hull

HU1 2AP

REGISTERED NUMBER:

10688742 (England and Wales)

ACCOUNTANTS:

cbaSadofskys

Chartered Accountants

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

FIXED ASSETS

Tangible assets

4

1,022

2,741

CURRENT ASSETS

Debtors

27,469

3,810

Cash at bank

18,828

1,108

46,297

4,918

CREDITORS

Amounts falling due within one year

11,967

8,269

NET CURRENT ASSETS/(LIABILITIES)

34,330

(3,351

)

TOTAL ASSETS LESS CURRENT LIABILITIES

35,352

(610

)

CREDITORS

Amounts falling due after more than one year

20,000

9,991

NET ASSETS/(LIABILITIES)

15,352

(10,601

)

CAPITAL AND RESERVES

Called up share capital

5

10

10

Retained earnings

15,342

(10,611

)

SHAREHOLDERS' FUNDS

15,352

(10,601

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st August 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 27th August 2021 and were signed on its behalf by:

Mrs K K Sidhu - Director

1.	STATUTORY INFORMATION

MK 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 15% on reducing balance

Government grants

Government grants are recognised using the accruals model.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the assets to which they relate.

A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the company with no future related costs, is credited to income in the period in which it becomes receivable.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st September 2019

6,591

Additions

442

At 31st August 2020

7,033

DEPRECIATION

At 1st September 2019

3,850

Charge for year

2,161

At 31st August 2020

6,011

NET BOOK VALUE

At 31st August 2020

1,022

At 31st August 2019

2,741

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

9

A Ordinary

£1

9

9

1

B

£1

1

1

10

10