ACCOUNTS - Final Accounts

Share capital

Shares classified as equity

EAGLE 2023 LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-09-302017-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2016-10-01Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. 09212297 2016-10-01 2017-09-30 09212297 2015-10-01 2016-09-30 09212297 2017-09-30 09212297 2016-09-30 09212297 c:Director1 2016-10-01 2017-09-30 09212297 d:CurrentFinancialInstruments 2017-09-30 09212297 d:CurrentFinancialInstruments 2016-09-30 09212297 d:CurrentFinancialInstruments d:WithinOneYear 2017-09-30 09212297 d:CurrentFinancialInstruments d:WithinOneYear 2016-09-30 09212297 d:ShareCapital 2017-09-30 09212297 d:ShareCapital 2016-09-30 09212297 d:RetainedEarningsAccumulatedLosses 2017-09-30 09212297 d:RetainedEarningsAccumulatedLosses 2016-09-30 09212297 c:OrdinaryShareClass1 2016-10-01 2017-09-30 09212297 c:OrdinaryShareClass1 2017-09-30 09212297 c:FRS102 2016-10-01 2017-09-30 09212297 c:AuditExempt-NoAccountantsReport 2016-10-01 2017-09-30 09212297 c:FullAccounts 2016-10-01 2017-09-30 09212297 c:PrivateLimitedCompanyLtd 2016-10-01 2017-09-30 xbrli:shares iso4217:GBP xbrli:pure

	PALMER LEGAL CONSULTANCY LIMITED
	DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS PAGES FOR FILLING WITH REGISTRAR
	FOR THE YEAR ENDED 30 SEPTEMBER 2017
	Company Registration No. 09212297 (England and Wales)

PALMER LEGAL CONSULTANCY LIMITED

REGISTERED NUMBER:09212297

BALANCE SHEET

AS AT 30 SEPTEMBER 2017

		2017		2016
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	4,645		107
Cash at bank and in hand	5	1,295		16,253
		5,940		16,360
Creditors: amounts falling due within one year	6	(5,505)		(15,434)
Net current assets			435		926

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		335	826
		435	926

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

S Walker

Director

Date: 2 March 2018

The notes on pages 2 to 5 form part of these financial statements.

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PALMER LEGAL CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

1.	General information

Palmer Legal Consultancy Limited is a private company limited by shares and registered in England and Wales. The company's registered office is 1st Floor, 7-10 Chandos Street, Lonodn, W1G 9DQ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

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PALMER LEGAL CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

2.Accounting policies (continued)

2.5

Financial instruments (continued)

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.9

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

2.10

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 2 (2016 - 1).

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PALMER LEGAL CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

Debtors

					2017	2016
					£	£


Trade debtors	940	-
Other debtors	3,705	107
	4,645	107

5.	Cash and cash equivalents
		2017	2016
		£	£

	Cash at bank and in hand	1,295	16,253

Cash at bank and in hand is measured at fair value, which is calculated as amounts held on deposit at banks employed by the company less any impairments. No impairments to cash balances have been made in these accounts as all cash deposits are held at credible financial institutions.

6.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Trade creditors	-	463
Corporation tax	1,576	11,711
Other taxation and social security	1,529	-
Other creditors	-	860
Accruals and deferred income	2,400	2,400
	5,505	15,434

Allotted, called up and fully paid

100 Ordinary shares of £1 each	100	100

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PALMER LEGAL CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

8.	Related party transactions
	During the year, a director paid expenses on behalf of the company totalling £33,285 (2016: £9,255) and received repayments from the company totalling £37,672 (2016: £50,530). As at the balance sheet date, the director owed the company £3,527 (2016: £860 owed to the director by the company). This balance was repaid post year-end.

9.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

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