Goodman Grant Solicitors Limited - Period Ending 2016-06-30

Registration number: 07549944

Goodman Grant Solicitors Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

Thompson Jones Business Solutions Limited
Chartered Accountants
2 Heap Bridge
Bury
Lancashire
BL9 7HR

Goodman Grant Solicitors Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Goodman Grant Solicitors Limited
(Registration number: 07549944)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					4,779			9,950
Current assets
Stocks					231,635			219,685
Debtors					151,742			385,977
Cash at bank and in hand					90,792			200
					474,169			605,862
Creditors: Amounts falling due within one year					(265,589)			(244,837)
Net current assets					208,580			361,025
Net assets					213,359			370,975
Capital and reserves
Called up share capital		4			1			201
Profit and loss account					213,358			370,774
Shareholders' funds					213,359			370,975

For the year ending 30 June 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 18 October 2016 and signed on its behalf by:

.........................................
Mr R N Goodman
Director

.........................................
Mr J M Grant
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Goodman Grant Solicitors Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable in respect of the provision of legal services.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their respected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	over 4 years straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Computers	33% straight line
Fixtures and fittings	25% reducing balance

Stock and work in progress

Work not yet invoiced is calculated on the basis of the fair value of services provided at the balance sheet date as a proportion of the total value of the engagement.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

Goodman Grant Solicitors Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2015		21,779			21,779
At 30 June 2016		21,779			21,779
Depreciation
At 1 July 2015		11,829			11,829
Charge for the year		5,171			5,171
At 30 June 2016		17,000			17,000
Net book value
At 30 June 2016		4,779			4,779
At 30 June 2015		9,950			9,950

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		-			45,010

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		-			-			100			100
Ordinary "A" shares of £1 each		-			-			90			90
Ordinary "B" shares of £1 each		-			-			10			10
Ordinary "C" shares of £1 each		-			-			1			1
Deferred shares of £1 each		1			1			-			-
		1			1			201			201

Page 3

Goodman Grant Solicitors Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

Purchase of own shares

During the year the company purchased 10 of its own Ordinary shares at a nominal value of £1 . The Ordinary shares were purchased for a consideration of £5,000 and represent 10% of the called up share capital of that class of share. The shares were bought by the company due to the resignation of the director.

During the year the company purchased 10 of its own Ordinary "B" shares at a nominal value of £1 . The Ordinary "B" shares were purchased for a consideration of £5,000 and represent 100% of the called up share capital of that class of share. The shares were bought by the company due to the resignation of the director.

5

Control

The company is controlled by Goodman Grant Holdings Limited .

Page 4