Laker Legal Solicitors Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08741600 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017

FOR

LAKER LEGAL SOLICITORS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

Mr R A Hirst

Mr S M Ogden

Mr J R Hirst

SECRETARY:

REGISTERED OFFICE:

Laker Legal Solicitors Limited

PO Box 898

Lancaster

Lancashire

LA1 9JU

REGISTERED NUMBER:

08741600 (England and Wales)

ACCOUNTANTS:

Taylor, Robertson & Willett Ltd

95 King Street

Lancaster

Lancashire

LA1 1RH

FIXED ASSETS

Intangible assets

4

4,000

6,000

Tangible assets

5

7,833

8,657

11,833

14,657

CURRENT ASSETS

Stocks

31,167

36,627

Debtors

6

74,051

52,281

Cash at bank and in hand

565,584

548,479

670,802

637,387

CREDITORS

Amounts falling due within one year

7

569,460

579,283

NET CURRENT ASSETS

101,342

58,104

TOTAL ASSETS LESS CURRENT LIABILITIES

113,175

72,761

CREDITORS

Amounts falling due after more than one year

8

50,000

50,000

NET ASSETS

63,175

22,761

CAPITAL AND RESERVES

Called up share capital

420

420

Retained earnings

9

62,755

22,341

SHAREHOLDERS' FUNDS

63,175

22,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 19 September 2017 and were signed on its behalf by:

Mr R A Hirst - Director

1.	STATUTORY INFORMATION

Laker Legal Solicitors Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

30% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2016

and 30 April 2017

10,000

AMORTISATION

At 1 May 2016

4,000

Amortisation for year

2,000

At 30 April 2017

6,000

NET BOOK VALUE

At 30 April 2017

4,000

At 30 April 2016

6,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 May 2016

15,929

Additions

3,457

Disposals

(986

)

At 30 April 2017

18,400

DEPRECIATION

At 1 May 2016

7,272

Charge for year

3,799

Eliminated on disposal

(504

)

At 30 April 2017

10,567

NET BOOK VALUE

At 30 April 2017

7,833

At 30 April 2016

8,657

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

68,469

48,311

Other debtors

5,582

3,970

74,051

52,281

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

2,182

Taxation and social security

76,374

54,396

Other creditors

493,086

522,705

569,460

579,283

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

50,000

50,000

9.

RESERVES

Retained

earnings

£

At 1 May 2016

22,341

Profit for the year

143,314

Dividends

(102,900

)

At 30 April 2017

62,755

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2017 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Taylor, Robertson & Willett Ltd

95 King Street

Lancaster

Lancashire

LA1 1RH

19 September 2017