Scott - Law Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03230122 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2018

for

Scott - Law Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr T N Scott

Mrs C J G Scott

Mr M A Burrough

SECRETARY:

Mrs C J G Scott

REGISTERED OFFICE:

Scott-Law House

Lynch Road

BERKELEY

Gloucestershire

GL13 9TA

REGISTERED NUMBER:

03230122 (England and Wales)

ACCOUNTANTS:

A C Mole & Sons

Stafford House

Blackbrook Park Avenue

Taunton

Somerset

TA1 2PX

FIXED ASSETS

Tangible assets

4

108,319

103,378

CURRENT ASSETS

Stocks

37,239

36,132

Debtors

5

516,555

573,250

Cash at bank and in hand

804,165

565,968

1,357,959

1,175,350

CREDITORS

Amounts falling due within one year

6

616,173

642,219

NET CURRENT ASSETS

741,786

533,131

TOTAL ASSETS LESS CURRENT LIABILITIES

850,105

636,509

PROVISIONS FOR LIABILITIES

7,463

5,529

NET ASSETS

842,642

630,980

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

792,642

580,980

SHAREHOLDERS' FUNDS

842,642

630,980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 14 January 2019 and were signed on its behalf by:

Mr T N Scott - Director

1.	STATUTORY INFORMATION

Scott - Law 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

-

Straight line over 10 years

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The company only has financial assets and liabilities that qualify as basic financial instruments. Basic financial

instruments are initially recognised at transaction value and subsequently measured at settlement value.

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.

The company also contributes to the director's personal pension plans.

Rental income

Rental income is recognised on a straight-line basis over the term of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2017 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Leasehold

machinery

improvements

etc

Totals

£

£

£

COST

At 1 October 2017

62,610

369,361

431,971

Additions

-

45,050

45,050

Disposals

-

(14,995

)

(14,995

)

At 30 September 2018

62,610

399,416

462,026

DEPRECIATION

At 1 October 2017

37,566

291,027

328,593

Charge for year

6,261

33,848

40,109

Eliminated on disposal

-

(14,995

)

(14,995

)

At 30 September 2018

43,827

309,880

353,707

NET BOOK VALUE

At 30 September 2018

18,783

89,536

108,319

At 30 September 2017

25,044

78,334

103,378

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

481,611

539,228

Directors' current accounts

-

548

Prepayments and accrued income

34,944

33,474

516,555

573,250

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

373,481

420,619

Corporation tax

50,058

46,544

Social security and other taxes

86,309

69,353

Other creditors

7,081

27,527

Directors' current accounts

4

-

Deferred income

4,275

-

Accrued expenses

94,965

78,176

616,173

642,219

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

55,325

71,050

Between one and five years

158,400

174,125

In more than five years

79,200

118,800

292,925

363,975

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director's were advanced £565 (2017: £390,272) and at the balance sheet date the company

owed the directors £4 (2017: £548 was owed to the company).

9.

DONATIONS

The donations expense shown in the accounts is £2,788 (2017: £2,200).

During the year credits for recycled toners to the value of £907 (2017: £863) were received and used for

donations.