Haven Solicitors Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08656557 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

FOR

HAVEN SOLICITORS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R M Thompson

REGISTERED OFFICE:

Commer House

Tadcaster Enterprise Park

Station Road

Tadcaster

North Yorkshire

LS24 9JF

BUSINESS ADDRESS:

2 Rectory Close

Bolton Percy

York

North Yorkshire

YO23 7AX

REGISTERED NUMBER:

08656557 (England and Wales)

ACCOUNTANTS:

Townsend Harrison Limited

13 Yorkersgate

Malton

North Yorkshire

YO17 7AA

FIXED ASSETS

Intangible assets

5

42,000

84,000

Tangible assets

6

2,844

4,797

44,844

88,797

CURRENT ASSETS

Debtors

7

127,224

83,974

Cash at bank

41,443

39,068

168,667

123,042

CREDITORS

Amounts falling due within one year

8

82,642

64,332

NET CURRENT ASSETS

86,025

58,710

TOTAL ASSETS LESS CURRENT LIABILITIES

130,869

147,507

CREDITORS

Amounts falling due after more than one year

9

(1,988

)

(4,263

)

PROVISIONS FOR LIABILITIES

(569

)

(959

)

NET ASSETS

128,312

142,285

CAPITAL AND RESERVES

Called up share capital

11

11

Retained earnings

128,301

142,274

SHAREHOLDERS' FUNDS

128,312

142,285

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 16 May 2018 and were signed by:

Mr R M Thompson - Director

1.	STATUTORY INFORMATION

Haven 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.

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

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies adopted in the presentation of the financial statements are set out below and

have remained unchanged from the previous year and also have been consistently applied within the same

accounts.

These financial statements for the year ended 31 August 2017 are the first financial statements that comply

with FRS 102 Section 1A small entities. The date of transition is 1 September 2015.

The transition to FRS 102 Section 1A for small entities has not resulted in any changes in the accounting

policies.

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

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 five years.

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

-

33% on cost and 20% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 obtained under operating leases are charged to the profit and loss account on a straight line basis over

the period of the lease.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and

depreciated over their useful lives. Obligations under such agreements are included in creditors net of the

finance charge allocated to future periods. The finance element of the rental payment is charged to the profit

and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each

period.

Revenue recognition

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration

in exchange for the supply of goods and services that it provides. It is measured at the fair value of the right to

consideration, which represents amounts chargeable to customers.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2016

and 31 August 2017

210,000

AMORTISATION

At 1 September 2016

126,000

Charge for year

42,000

At 31 August 2017

168,000

NET BOOK VALUE

At 31 August 2017

42,000

At 31 August 2016

84,000

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2016

12,802

Additions

450

At 31 August 2017

13,252

DEPRECIATION

At 1 September 2016

8,005

Charge for year

2,403

At 31 August 2017

10,408

NET BOOK VALUE

At 31 August 2017

2,844

At 31 August 2016

4,797

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

3,298

5,750

Other debtors

123,926

78,224

127,224

83,974

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

51,342

23,499

Finance leases

2,275

2,275

Trade creditors

545

-

Taxation and social security

25,107

35,704

Other creditors

3,373

2,854

82,642

64,332

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Finance leases

1,988

4,263

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Finance leases

4,263

-

The basis of the security provided is the company's Case Management Software, which was purchased with the

funds from this finance agreement.

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2017 and

31 August 2016:

2017

2016

£

£

Mr R M Thompson

Balance outstanding at start of year

76,742

(48,050

)

Amounts advanced

143,659

191,142

Amounts repaid

(98,124

)

(66,350

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

122,277

76,742

The above loan is unsecured and repayable on demand. Interest was charged in the year at 3% on the

overdrawn loan balances. The maximum amount outstanding during the year on the loan was £124,364 (2016

£88,517).

12.	RELATED PARTY TRANSACTIONS

During the year, total dividends of £76,750 (2016 - £27,500) were paid to the director .