| Lloyds Law Ltd |
| Registered number: |
07530926 |
| Abbreviated Balance Sheet |
| as at 31 March 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
75,000 |
|
|
150,000 |
| Tangible assets |
3 |
|
|
10,269 |
|
|
13,274 |
|
|
|
|
85,269 |
|
|
163,274 |
|
| Current assets |
| Stocks |
|
|
15,068 |
|
|
45,068 |
| Debtors |
|
|
74,321 |
|
|
64,169 |
| Cash at bank and in hand |
|
|
572,933 |
|
|
582,812 |
|
|
|
662,322 |
|
|
692,049 |
|
| Creditors: amounts falling due within one year |
|
|
(696,359) |
|
|
(807,007) |
|
| Net current liabilities |
|
|
|
(34,037) |
|
|
(114,958) |
|
| Total assets less current liabilities |
|
|
|
51,232 |
|
|
48,316 |
|
|
| Provisions for liabilities |
|
|
|
(1,427) |
|
|
(1,890) |
|
|
| Net assets |
|
|
|
49,805 |
|
|
46,426 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
49,705 |
|
|
46,326 |
|
| Shareholders' funds |
|
|
|
49,805 |
|
|
46,426 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
|
| Mr Chaudhary Ilyas Ahmed Gondal |
| Director |
| Approved by the board on 15 August 2016 |
|
| Lloyds Law Ltd |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of work carried out in respect of legal services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Fixtures and fittings |
15% reducing balance |
|
Plant and machinery |
25% reducing balance |
|
|
Stocks |
|
Stock and work-in-progress is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Leasing commitments |
|
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
375,000 |
|
At 31 March 2016 |
375,000 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2015 |
225,000 |
|
Provided during the year |
75,000 |
|
At 31 March 2016 |
300,000 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
75,000 |
|
At 31 March 2015 |
150,000 |
|
|
|
|
|
|
|
|
|
Goodwill represents the purchased value of previous partnership business called " Lloyds Solicitors" and is carried in the accounts at its historic value on 30 June 2011. Goodwill is being written off in equal instalements over its estimated economic life of 5 years. |
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
54,380 |
|
At 31 March 2016 |
54,380 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2015 |
41,106 |
|
Charge for the year |
3,005 |
|
At 31 March 2016 |
44,111 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
10,269 |
|
At 31 March 2015 |
13,274 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Trading name |
|
|
The company has traded throughout the current and previous period under the trading name of " Lloyds Solicitors". |
