Ibbotson Brady Solicitors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08699543 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

IBBOTSON BRADY SOLICITORS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs K Ibbotson

J M Ibbotson

REGISTERED OFFICE:

Park House

Park Square West

Leeds

West Yorkshire

LS1 2PW

REGISTERED NUMBER:

08699543 (England and Wales)

ACCOUNTANTS:

D & J Randles

Chartered Accountants

4 The Crescent

Adel

Leeds

West Yorkshire

LS16 6AA

FIXED ASSETS

Intangible assets

4

251,773

265,760

Tangible assets

5

1,541

2,054

253,314

267,814

CURRENT ASSETS

Debtors

66,690

55,846

Cash at bank

95,293

119,687

161,983

175,533

CREDITORS

Amounts falling due within one year

84,399

229,468

NET CURRENT ASSETS/(LIABILITIES)

77,584

(53,935

)

TOTAL ASSETS LESS CURRENT LIABILITIES

330,898

213,879

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

330,798

213,779

SHAREHOLDERS' FUNDS

330,898

213,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 11 October 2018 and were signed on its behalf by:

J M Ibbotson - Director

1.	STATUTORY INFORMATION

Ibbotson Brady 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Although the directors previously considered that goodwill had an indefinite economic life, the directors have

now considered that, in the light of the requirements of FRS102, goodwill should be amortised over a period of

20 years.

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.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

and 31 March 2018

279,747

AMORTISATION

At 1 April 2017

13,987

Amortisation for year

13,987

At 31 March 2018

27,974

NET BOOK VALUE

At 31 March 2018

251,773

At 31 March 2017

265,760

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

and 31 March 2018

2,828

DEPRECIATION

At 1 April 2017

774

Charge for year

513

At 31 March 2018

1,287

NET BOOK VALUE

At 31 March 2018

1,541

At 31 March 2017

2,054

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Other loans

-

10,000

The bank overdraft and other loans are secured by the personal guarantee of Mr J Ibbotson, a director.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

100

Ordinary

1

100

100

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company paid interest during the year to J Ibbotson, a director, amounting to £2,859 (2017 - £20,000).

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J M Ibbotson.