Gordons Solicitors Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08468270 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Gordons Solicitors Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Ms S M Brown

Mr K W Gordon

Mr C A Gordon

Mr G Skivington

Mr S J Stewart

Mr M E Turpie

Mr M R Santa-Olalla

REGISTERED OFFICE:

Winter Hill House

Station Approach

Marlow

Buckinghamshire

SL7 1NT

REGISTERED NUMBER:

08468270 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Intangible assets

2

2,884,360

3,227,080

Tangible assets

3

2,199

2,008

2,886,559

3,229,088

CURRENT ASSETS

Debtors

795,289

771,590

Cash at bank and in hand

148,125

188,172

943,414

959,762

CREDITORS

Amounts falling due within one year

4

(3,257,823

)

(3,893,668

)

NET CURRENT LIABILITIES

(2,314,409

)

(2,933,906

)

TOTAL ASSETS LESS CURRENT LIABILITIES

572,150

295,182

CREDITORS

Amounts falling due after more than one year

4

(102,719

)

(205,237

)

NET ASSETS

469,431

89,945

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

469,331

89,845

SHAREHOLDERS' FUNDS

469,431

89,945

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 21 December 2016 and were signed on its behalf by:

Mr G Skivington - 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 the fair value of services provided during the period on client assignments.

Turnover is recognised as legal services are undertaken and the right to consideration is earned. Fair

value reflects the amount expected to be recoverable from clients and is based on the time spent,

skills and expertise provided and expenses incurred. Turnover excludes Value Added Tax.

Turnover in respect of contingent fee assignments (over and above any agreed minimum fee) is

recognised in the period when the contingent event occurs and the collectability of the fee is

assured. Unbilled turnover on individual client assignments is included as work in progress.

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.

Fixtures and fittings

-

50% on cost

Computer equipment

-

50% on cost

Deferred tax

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

the balance sheet date, where transactions or events that result in an obligation to pay more or a

right to pay less tax in the future have occurred by the balance sheet date with certain limited

exceptions.

Deferred tax is calculated on an undiscounted basis at the ta rates that are expected to apply in the

periods in which the timing differences are expected to reverse, based on the tax rates and laws

enacted or substantively enacted 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.

Claims

Provision is made on a case by case basis in respect of the cost of defending claims and where

appropriate the estimated cost to the firm of settling claims, net of expected insurance recoveries.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

3,427,000

AMORTISATION

At 1 April 2015

199,920

Amortisation for year

342,720

At 31 March 2016

542,640

NET BOOK VALUE

At 31 March 2016

2,884,360

At 31 March 2015

3,227,080

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

2,492

Additions

1,916

At 31 March 2016

4,408

DEPRECIATION

At 1 April 2015

484

Charge for year

1,725

At 31 March 2016

2,209

NET BOOK VALUE

At 31 March 2016

2,199

At 31 March 2015

2,008

4.

CREDITORS

Creditors include an amount of £ 196,234 (31.3.15 - £ 307,856 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

100

Ordinary

£1

100

100