Mooneeram Worth Law Limited Company Accounts

Mooneeram Worth Law Limited Company Accounts

MOONEERAM WORTH LAW LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04378524
Mooneeram Worth Law Limited
Filleted Unaudited Financial Statements
31 March 2017
Mooneeram Worth Law Limited
Financial Statements
Year ended 31 March 2017
Contents
Page
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
Mooneeram Worth Law Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Mooneeram Worth Law Limited
Year ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mooneeram Worth Law Limited for the year ended 31 March 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Mooneeram Worth Law Limited in accordance with the terms of our engagement letter dated 20 November 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Mooneeram Worth Law Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mooneeram Worth Law Limited and its director for our work or for this report.
It is your duty to ensure that Mooneeram Worth Law Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mooneeram Worth Law Limited. You consider that Mooneeram Worth Law Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Mooneeram Worth Law Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
CARSTON Chartered Accountants
1st Floor, Tudor House 16 Cathedral Road Cardiff CF11 9LJ
21 November 2017
Mooneeram Worth Law Limited
Statement of Financial Position
31 March 2017
2017
2016
Note
£
£
£
Fixed assets
Investments
4
1,000,000
1,000,000
Creditors: amounts falling due within one year
5
12
3,462
----
-------
Net current liabilities
12
3,462
------------
------------
Total assets less current liabilities
999,988
996,538
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
999,888
996,438
---------
---------
Shareholders funds
999,988
996,538
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 November 2017 , and are signed on behalf of the board by:
Mr A Worth
Director
Company registration number: 04378524
Mooneeram Worth Law Limited
Notes to the Financial Statements
Year ended 31 March 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2 Cae Gwyrdd, Greenmeadow Springs Business Park, Cardiff, CF15 7AB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Investments
Other investments other than loans
£
Cost
At 1 April 2016 and 31 March 2017
1,000,000
------------
Impairment
At 1 April 2016 and 31 March 2017
–
------------
Carrying amount
At 31 March 2017
1,000,000
------------
At 31 March 2016
1,000,000
------------
The company owns 100% of the issued share capital of the following company:
Mooneerams Limited - Company number - 5707097
The subsidiary is registered in England and Wales and operates in Wales.
100% of the issued share capital of the subsidiary is held by Mooneeram Worth Law Limited - being the ultimate parent undertaking.
The subsidiary's principal activity is that of personal injury solicitors.
The subsidiary's profit for the year ended 31 March 2017 was £701,516, and the total of its capital and reserves as at 31 March 2017 was £734,983.
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
5. Creditors: amounts falling due within one year
2017
2016
£
£
Other creditors
12
3,462
----
-------
6. Related party transactions
The company was under the control of Mr A Worth throughout the current and previous year. No related party transactions are reportable for the year.
7. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.