David J Foster & Co (Solicitors) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08867924 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

FOR

DAVID J FOSTER & CO (SOLICITORS) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D J Foster

M Rowley

REGISTERED OFFICE:

3 Albert Road

Tamworth

Staffordshire

B79 7JN

REGISTERED NUMBER:

08867924 (England and Wales)

ACCOUNTANTS:

Styles and Co Accountants Limited

Chartered Accountants

Heather House

473 Warrington Road

Culcheth

Warrington

Cheshire

WA3 5QU

FIXED ASSETS

Intangible assets

2

160,000

180,000

Tangible assets

3

15,113

19,593

175,113

199,593

CURRENT ASSETS

Stocks

42,246

35,500

Debtors

24,367

17,641

Cash in hand

96,060

90,731

162,673

143,872

CREDITORS

Amounts falling due within one year

(84,665

)

(94,173

)

NET CURRENT ASSETS

78,008

49,699

TOTAL ASSETS LESS CURRENT LIABILITIES

253,121

249,292

CREDITORS

Amounts falling due after more than one year

(156,106

)

(192,116

)

NET ASSETS

97,015

57,176

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

96,915

57,076

SHAREHOLDERS' FUNDS

97,015

57,176

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 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 28 September 2016 and were signed on its behalf by:

D J Foster - 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 January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Office equipment

-

33% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

When the outcome of a transaction can be estimated reliably, turnover is recognised by reference

to the stage of completion at 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

and 29 February 2016

200,000

AMORTISATION

At 1 March 2015

20,000

Amortisation for year

20,000

At 29 February 2016

40,000

NET BOOK VALUE

At 29 February 2016

160,000

At 28 February 2015

180,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

27,718

Additions

612

At 29 February 2016

28,330

DEPRECIATION

At 1 March 2015

8,125

Charge for year

5,092

At 29 February 2016

13,217

NET BOOK VALUE

At 29 February 2016

15,113

At 28 February 2015

19,593

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.2.16

28.2.15

value:

£

£

100

Ordinary

£1

100

100

5.	ULTIMATE PARENT COMPANY

The ultimate controlling party is D J Foster by virtue of him owning a majority of the share capital.