Nowell Meller Solicitors Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05536577 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

NOWELL MELLER SOLICITORS LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

Mrs D F Hackney

S P Kirwan

Mrs J A Matthewman

REGISTERED OFFICE:

7-8 St. Mary's Grove

Stafford

Staffordshire

ST16 2AT

REGISTERED NUMBER:

05536577 (England and Wales)

ACCOUNTANTS:

Poole Waterfield Limited

Priory House

2 Priory Road

Dudley

West Midlands

DY1 1HH

BANKERS:

Lloyds Bank PLC

Fountain Square

Hanley

Stoke-on-Trent

ST1 1LE

FIXED ASSETS

Intangible assets

4

137,636

154,841

Tangible assets

5

30,159

40,212

167,795

195,053

CURRENT ASSETS

Debtors

6

629,674

604,986

Cash at bank and in hand

308

795

629,982

605,781

CREDITORS

Amounts falling due within one year

7

475,197

536,238

NET CURRENT ASSETS

154,785

69,543

TOTAL ASSETS LESS CURRENT LIABILITIES

322,580

264,596

CREDITORS

Amounts falling due after more than one year

8

(530,762

)

(591,600

)

PROVISIONS FOR LIABILITIES

(2,931

)

-

NET LIABILITIES

(211,113

)

(327,004

)

CAPITAL AND RESERVES

Called up share capital

11

6

6

Retained earnings

(211,119

)

(327,010

)

SHAREHOLDERS' FUNDS

(211,113

)

(327,004

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 5 February 2018 and were signed on its behalf by:

S P Kirwan - Director

Mrs J A Matthewman - Director

Mrs D F Hackney - Director

1.	STATUTORY INFORMATION

Nowell Meller Solicitors 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 represents net invoiced sales of services, excluding value added tax, and movements in

work in progress.

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.

Computer equipment

-

25% on reducing balance

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business of Nowell Meller

Solicitors on 1 November 2005, is being amortised evenly over its estimated life of twenty years, and

goodwill in relation to the acquisition of Arthur Boulton & Son Solicitors on 1 November 2007 which

is being amortised evenly over its estimated useful life of eighteen years.

Work in progress

Work in progress is accounted and defined in UITF 40 as issued by the ASB. It is the company policy

to recognise revenue over the time of a contract as it progresses with reference to the value of work

performed and with regard to contractual obligations. In respect of fixed fee work which is unbilled at

the year end it is the company's policy to recognise the full amount of the fee as income. Work in

progress is shown as ''Amounts recoverable on contracts''.

Going concern

The financial statements of the company have been prepared on a going concern basis. The validity

of this basis depends upon the continued financial support of its bankers and principal creditors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2016 - 35 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2016

and 31 October 2017

305,000

AMORTISATION

At 1 November 2016

150,159

Charge for year

17,205

At 31 October 2017

167,364

NET BOOK VALUE

At 31 October 2017

137,636

At 31 October 2016

154,841

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 November 2016

and 31 October 2017

265,005

DEPRECIATION

At 1 November 2016

224,793

Charge for year

10,053

At 31 October 2017

234,846

NET BOOK VALUE

At 31 October 2017

30,159

At 31 October 2016

40,212

6.

DEBTORS

31.10.17

31.10.16

£

£

Amounts falling due within one year:

Trade debtors

91,619

82,842

Amounts recoverable on

contracts

319,955

308,617

Other debtors

5,906

11,376

417,480

402,835

31.10.17

31.10.16

£

£

Amounts falling due after more than one year:

Other debtors

212,194

202,151

Aggregate amounts

629,674

604,986

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Bank loans and overdrafts

202,303

216,207

Trade creditors

78,574

100,967

Taxation and social security

119,053

144,982

Other creditors

75,267

74,082

475,197

536,238

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.17

31.10.16

£

£

Bank loans

249,259

283,283

Other creditors

281,503

308,317

530,762

591,600

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Loan - P Sherratt - 5 years

115,129

145,601

Repayable by instalments

Bank loans - over 5 years

96,319

139,932

9.	LEASING AGREEMENTS

The following operating lease payments are committed to be paid within one year:

31.10.17

31.10.16

£

£

Expiring:

Between one and five years

30,404

30,764

In more than five years

38,500

38,500

68,904

69,264

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.17

31.10.16

£

£

Bank overdrafts

168,785

161,679

Bank loans

282,777

337,811

Loan - P Sherratt

150,664

151,861

602,226

651,351

The company's bank borrowing facilities are secured by an unlimited debenture incorporating a fixed

charge and are guaranteed by S Kirwan, J Matthewman (directors) and A J Hall. The loan due to P

Sherratt is secured by way of debenture.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.17

31.10.16

value:

£

£

6

Ordinary

£1

6

6

12.	TRANSACTIONS WITH DIRECTORS

31.10.17

31.10.16

£

£

Mrs J A Matthewman

Balance outstanding at start of year

81,945

78,114

Amounts advanced

22,630

25,881

Amounts reallocated to other participators

(4,800

)

(4,800

)

Amounts repaid

-

(17,250

)

Balance outstanding at end of year

99,775

81,945

S P Kirwan

Balance outstanding at start of year

78,069

69,458

Amounts advanced

38,250

23,481

Amounts reallocated from J A Matthewman

2,400

2,400

Amounts repaid

(54,370

)

(17,270

)

Balance outstanding at end of year

64,349

78,069

The balances in respect of the directors current accounts of £164,124 (2016 - £160,014) are regarded

as amounts falling due after more than one year.

The loans in respect of the directors are unsecured and interest free.

13.	ULTIMATE CONTROLLING PARTY

Throughout the year the company has been controlled by J Matthewman, S Kirwan and A J Hall by

virtue of each holding 33.3% of the issued share capital.