Savage Law Practice Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC441985 (Scotland)

Abbreviated Unaudited Accounts

for the Period 1 April 2013 to 30 June 2014

for

Savage Law Practice Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

J F Savage

REGISTERED OFFICE:

19 Mar Street

ALLOA

Clackmannanshire

FK10 1HR

REGISTERED NUMBER:

SC441985 (Scotland)

ACCOUNTANTS:

The Kelvin Partnership Ltd

Chartered Accountants

The Cooper Building

505 Great Western Road

Glasgow

G12 8HN

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

17,472

17,472

CURRENT ASSETS

Stocks

122,000

Debtors

17,149

Cash at bank and in hand

291,453

430,602

CREDITORS

Amounts falling due within one year

410,802

NET CURRENT ASSETS

19,800

TOTAL ASSETS LESS CURRENT LIABILITIES

37,272

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

37,271

SHAREHOLDERS' FUNDS

37,272

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 4 November 2014 and were signed by:

J F Savage - 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 April 2008).

Turnover

Turnover is the amount receivable for the provision of goods and services falling within the Company's ordinary

activities.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

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

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 have occurred at that date that will result in an obligation to pay more

tax, or a right to pay less tax, or a right to receive repayments of tax.

Deferred tax assets are recognised only to the extent that the directors consider it more likely than not that there

will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted.

Deferred tax is measured at tax rates that are expected to apply in the periods in which timing differences

reverse, based on 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.

Pensions

The company operates a defined contribution pension scheme. Contributions payable for the period are charged

in the profit and loss account.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

50,000

At 30 June 2014

50,000

AMORTISATION

Amortisation for period

50,000

At 30 June 2014

50,000

NET BOOK VALUE

At 30 June 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

26,755

At 30 June 2014

26,755

DEPRECIATION

Charge for period

9,283

At 30 June 2014

9,283

NET BOOK VALUE

At 30 June 2014

17,472

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

£1

1