Abbreviated Company Accounts - ABBEY SOLICITORS LIMITED

ABBEY SOLICITORS LIMITED - Company Information

Registered Number 06404593

ABBEY SOLICITORS LIMITED

Abbreviated Accounts

31 March 2014

ABBEY SOLICITORS LIMITED Registered Number 06404593

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	495,000	990,000
Tangible assets	3	3,453	4,604
		498,453	994,604
Current assets
Stocks		300,000	296,840
Debtors		266,191	183,515
Cash at bank and in hand		1,649,474	1,233,366
		2,215,665	1,713,721
Creditors: amounts falling due within one year		(2,022,438)	(2,061,581)
Net current assets (liabilities)		193,227	(347,860)
Total assets less current liabilities		691,680	646,744
Creditors: amounts falling due after more than one year		0	(300,000)
Total net assets (liabilities)		691,680	346,744
Capital and reserves
Called up share capital		100	100
Profit and loss account		691,580	346,644
Shareholders' funds		691,680	346,744

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 21 November 2014

And signed on their behalf by:
Nadeem Ullah, Director

ABBEY SOLICITORS LIMITED Registered Number 06404593

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the fees invoiced in the year for the supply of legal services and are stated net of VAT.

Tangible assets depreciation policy
Depreciation has been provided at a rate of 25% per annum using the straight-line policy.

Intangible assets amortisation policy
Goodwill is being amortised over a useful life of 3 years.

2Intangible fixed assets

	£
Cost
At 1 April 2013	1,485,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	1,485,000
Amortisation
At 1 April 2013	495,000
Charge for the year	495,000
On disposals	-
At 31 March 2014	990,000
Net book values
At 31 March 2014	495,000
At 31 March 2013	990,000

3Tangible fixed assets

	£
Cost
At 1 April 2013	21,637
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	21,637
Depreciation
At 1 April 2013	17,033
Charge for the year	1,151
On disposals	-
At 31 March 2014	18,184
Net book values
At 31 March 2014	3,453
At 31 March 2013	4,604