Ribchester Smith & Law Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08657367 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

RIBCHESTER SMITH & LAW LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J Law BA MA ACA FCPA (HK)

J L Y Law BSc (Hons)

D M Armstrong FCA CTA

J D Holloway FCA DChA

R W Ribchester ACA MA(Dunelm)

REGISTERED OFFICE:

Sutherland House

5-7 The Friars

Newcastle upon Tyne

NE1 5XE

REGISTERED NUMBER:

08657367 (England and Wales)

FIXED ASSETS

Intangible assets

2

272,805

293,656

Tangible assets

3

1,946

2,475

274,751

296,131

CURRENT ASSETS

Stocks

1,000

Debtors

78,140

99,718

Cash at bank and in hand

856,247

582,187

935,387

682,905

CREDITORS

Amounts falling due within one year

773,468

676,568

NET CURRENT ASSETS

161,919

6,337

TOTAL ASSETS LESS CURRENT
LIABILITIES

436,670

302,468

PROVISIONS FOR LIABILITIES

338

433

NET ASSETS

436,332

302,035

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

436,232

301,935

SHAREHOLDERS' FUNDS

436,332

302,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 3 October 2016 and were signed on its behalf by:

J L Y Law BSc (Hons) - 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 derives from the principal activity of the company, and represents revenue earned, net of value added

tax, on client contracts performed during the accounting period. Revenue is recognised at fair value of work

performed up to the balance sheet date, once the right to revenue exists, the amounts receivable can be measured

reliably and it is probable that the revenue will be received.

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 fifteen years.

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 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

312,770

AMORTISATION

At 1 April 2015

19,114

Amortisation for year

20,851

At 31 March 2016

39,965

NET BOOK VALUE

At 31 March 2016

272,805

At 31 March 2015

293,656

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

2,961

DEPRECIATION

At 1 April 2015

486

Charge for year

529

At 31 March 2016

1,015

NET BOOK VALUE

At 31 March 2016

1,946

At 31 March 2015

2,475

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

49

Ordinary A

£1.00

49

31

Ordinary B

£1.00

31

20

Ordinary C

£1.00

20

100