Abbreviated Company Accounts - EMPLOYMENT LAW IN ACTION LIMITED

Abbreviated Company Accounts - EMPLOYMENT LAW IN ACTION LIMITED

EMPLOYMENT LAW IN ACTION LIMITED - Company Information

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Registered Number 06265410

EMPLOYMENT LAW IN ACTION LIMITED

Abbreviated Accounts

31 May 2016

EMPLOYMENT LAW IN ACTION LIMITED Registered Number 06265410

Abbreviated Balance Sheet as at 31 May 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 92,142 7,799
92,142 7,799
Current assets
Debtors 33,489 34,003
Cash at bank and in hand 48,060 78,827
81,549 112,830
Creditors: amounts falling due within one year (76,812) (79,821)
Net current assets (liabilities) 4,737 33,009
Total assets less current liabilities 96,879 40,808
Creditors: amounts falling due after more than one year (66,766) -
Provisions for liabilities (1,329) (1,561)
Total net assets (liabilities) 28,784 39,247
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 28,684 39,147
Shareholders' funds 28,784 39,247
  • For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 13 September 2016

And signed on their behalf by:
R HAMMOND, Director

EMPLOYMENT LAW IN ACTION LIMITED Registered Number 06265410

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents the value, net of value added tax, of goods and services supplied to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Freehold property 2% straight line
Office equipment 25% reducing balance
Computer equipment 25% reducing balance

Other accounting policies
Deferred Taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the financial statements 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 and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

2Tangible fixed assets
£
Cost
At 1 June 2015 14,370
Additions 87,645
Disposals -
Revaluations -
Transfers -
At 31 May 2016 102,015
Depreciation
At 1 June 2015 6,571
Charge for the year 3,302
On disposals -
At 31 May 2016 9,873
Net book values
At 31 May 2016 92,142
At 31 May 2015 7,799
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
100 Ordinary shares of £1 each 100 100