Scott - Law Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03230122 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2017

for

Scott - Law Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr T N Scott

Mrs C J G Scott

Mr M A Burrough

SECRETARY:

Mrs C J G Scott

REGISTERED OFFICE:

Scott-Law House

Lynch Road

BERKELEY

Gloucestershire

GL13 9TA

REGISTERED NUMBER:

03230122 (England and Wales)

ACCOUNTANTS:

A C Mole & Sons

Stafford House

Blackbrook Park Avenue

Taunton

Somerset

TA1 2PX

FIXED ASSETS

Tangible assets

4

103,378

116,835

CURRENT ASSETS

Stocks

36,132

51,766

Debtors

5

573,250

482,950

Cash at bank and in hand

565,968

403,035

1,175,350

937,751

CREDITORS

Amounts falling due within one year

6

642,219

595,593

NET CURRENT ASSETS

533,131

342,158

TOTAL ASSETS LESS CURRENT LIABILITIES

636,509

458,993

PROVISIONS FOR LIABILITIES

5,529

8,245

NET ASSETS

630,980

450,748

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

580,980

400,748

SHAREHOLDERS' FUNDS

630,980

450,748

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 8 January 2018 and were signed on its behalf by:

Mr T N Scott - Director

1.	STATUTORY INFORMATION

Scott - Law 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

-

Straight line over 10 years

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The company only has financial assets and liabilities that qualify as basic financial instruments. Basic financial

instruments are initially recognised at transaction value and subsequently measured at settlement value.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

The company also contributes to the director's personal pension plans.

Rental income

Rental income is recognised on a straight-line basis over the term of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2016 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Leasehold

machinery

improvements

etc

Totals

£

£

£

COST

At 1 October 2016

62,610

344,301

406,911

Additions

-

25,060

25,060

At 30 September 2017

62,610

369,361

431,971

DEPRECIATION

At 1 October 2016

31,305

258,771

290,076

Charge for year

6,261

32,256

38,517

At 30 September 2017

37,566

291,027

328,593

NET BOOK VALUE

At 30 September 2017

25,044

78,334

103,378

At 30 September 2016

31,305

85,530

116,835

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

539,228

443,838

Directors' current accounts

548

-

Prepayments and accrued income

33,474

39,112

573,250

482,950

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

420,619

396,149

Corporation tax

46,544

47,104

Social security and other taxes

69,353

59,364

Other creditors

27,527

11,942

Deferred income

-

7,500

Accrued expenses

78,176

73,534

642,219

595,593

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

71,050

71,050

Between one and five years

174,125

205,575

In more than five years

118,800

158,400

363,975

435,025

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director's were advanced £390,272 (2016: £nil) and at the balance sheet date £548 (2016:

£nil) was outstanding.

9.

DONATIONS

The donations expense shown in the accounts is £2,200 (2016: £791).

During the year credits for recycled toners to the value of £863 (2016: £762) were received and used for

donations.

10.	FIRST YEAR ADOPTION

The company transitioned to FRS 102 Section 1A from previously extant UK GAAP as at 1 October 2015.

In preparing the financial statements, the directors have considered whether in applying the accounting policies

required by FRS 102 Section 1A a restatement of comparative items was needed. No restatements were

required.