Gordons Property Lawyers Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03758842 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Gordons Property Lawyers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P M Norris

Mr K W Gordon

Mr C A Gordon

Mr M R Santa-Olalla

REGISTERED OFFICE:

SC House Vanwall Road

Maidenhead

Berkshire

SL6 4UB

REGISTERED NUMBER:

03758842 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Intangible assets

4

1,921,510

2,180,590

Tangible assets

5

18,980

3,105

1,940,490

2,183,695

CURRENT ASSETS

Debtors

6

1,000,655

1,073,246

Cash at bank and in hand

203,196

201

1,203,851

1,073,447

CREDITORS

Amounts falling due within one year

7

(2,003,665

)

(2,504,654

)

NET CURRENT LIABILITIES

(799,814

)

(1,431,207

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,140,676

752,488

CREDITORS

Amounts falling due after more than one year

8

(251,936

)

(176,063

)

PROVISIONS FOR LIABILITIES

(73,976

)

(70,000

)

NET ASSETS

814,764

506,425

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

814,664

506,325

SHAREHOLDERS' FUNDS

814,764

506,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 28 December 2017 and were signed on its behalf by:

Mr K W Gordon - Director

1.	STATUTORY INFORMATION

Gordons Property Lawyers Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make

judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are

not readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and other factors that are considered to be relevant. Actual results may differ

from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects

both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Changes in accounting policies

These accounts reflect the first year that the company has adopted FRS 102. The prior year financial

statements were restated for adoption of FRS 102 in the current year. There were no material

adjustments arising.

Turnover

Turnover represents the fair value of services provided during the period on client assignments.

Turnover is recognised as legal services are undertaken and the right to consideration is earned. Fair

value reflects the amount expected to be recoverable from clients and is based on the time spent,

skills and expertise provided and expenses incurred. Turnover excludes Value Added Tax.

Turnover in respect of contingent fee assignments (over and above any agreed minimum fee which

is recognised above) is recognised in the period when the contingent event occurs and the

collectability of the fee is assured. Unbilled turnover on individual client assignments is included as

work in progress.

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 ten 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 the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method,

except for investments in non-convertible preference and non-puttable preference and ordinary

shares, which are measured at fair value, with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and therefore at fair value, with changes

recognised in profit and loss.

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.

Claims

Provision is made on a case by case basis in respect of the cost of defending claims and where

appropriate the estimated cost to the firm of settling claims, net of expected insurance recoveries.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 125 (2016 - 100 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

2,590,800

AMORTISATION

At 1 April 2016

410,210

Charge for year

259,080

At 31 March 2017

669,290

NET BOOK VALUE

At 31 March 2017

1,921,510

At 31 March 2016

2,180,590

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

4,198

Additions

19,801

At 31 March 2017

23,999

DEPRECIATION

At 1 April 2016

1,093

Charge for year

3,926

At 31 March 2017

5,019

NET BOOK VALUE

At 31 March 2017

18,980

At 31 March 2016

3,105

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

342,692

351,124

Other debtors

657,963

722,122

1,000,655

1,073,246

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

228,789

245,290

Trade creditors

9,252

25,673

Taxation and social security

416,708

380,578

Other creditors

1,348,916

1,853,113

2,003,665

2,504,654

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans

251,936

176,063

9.	RELATED PARTY DISCLOSURES

Mr K W Gordon

As at the year end Mr K W Gordon was owed £573,367 (2016: £914,569) from the company.

Mr M R Santa-Olalla

As at the year end Mr M R Santa-Olalla was owed £751,544 (2016: £938,544) from the company.

10.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no ultimate controlling party.