The Oliver Searle Partnership Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03923448 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018

FOR

THE OLIVER SEARLE PARTNERSHIP LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

DIRECTOR:

R J Stevens

REGISTERED OFFICE:

Drake House

80 Guildford Street

Chertsey

Surrey

KT16 9AD

REGISTERED NUMBER:

03923448 (England and Wales)

ACCOUNTANTS:

Drake & Co

Chartered Accountants

Drake House

80 Guildford Street

Chertsey

Surrey

KT16 9AD

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of The Oliver Searle Partnership Limited for the year ended 30 April 2018 which comprise the

Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of The Oliver Searle Partnership Limited in accordance with the terms of our engagement letter dated 11 January 2019. Our work has been undertaken solely to prepare for your approval the financial statements of The Oliver Searle Partnership Limited and state those matters that we have agreed to state to the director of The Oliver Searle Partnership Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Oliver Searle Partnership Limited and its director for our work or for this report.

It is your duty to ensure that The Oliver Searle Partnership Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Oliver Searle Partnership Limited. You consider that The Oliver Searle Partnership Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Oliver Searle Partnership Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Drake & Co

Chartered Accountants

Drake House

80 Guildford Street

Chertsey

Surrey

KT16 9AD

28 January 2019

FIXED ASSETS

Intangible assets

4

1,045,200

1,679,451

Tangible assets

5

3,260

-

1,048,460

1,679,451

CURRENT ASSETS

Debtors

6

124,106

14,348

Cash at bank

544,495

480,128

668,601

494,476

CREDITORS

Amounts falling due within one year

7

449,323

423,842

NET CURRENT ASSETS

219,278

70,634

TOTAL ASSETS LESS CURRENT LIABILITIES

1,267,738

1,750,085

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

1,267,638

1,749,985

SHAREHOLDERS' FUNDS

1,267,738

1,750,085

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 21 January 2019 and were signed by:

R J Stevens - Director

1.	STATUTORY INFORMATION

The Oliver Searle Partnership 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 and revenue recognition

Turnover represents sales and services provided, net of value added tax.

Turnover represents revenue earned under a wide variety of contracts including those to provide professional

services and advice to third parties.

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

exchange for its performance under those contracts.

It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients,

including recoverable expenses and disbursements, but excluding Value Added Tax.

For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This assessment

takes into account the nature of the assignment, its stage of completion and the relevant contract terms.

Unbilled revenue is included in debtors, under "other debtors", prebilled revenue is included in creditors under

"other creditors".

Goodwill

Goodwill, is the amount paid in connection with the acquisition of a business in 2016.

Goodwill is stated at cost less impairment.

Goodwill is deemed to have an estimated useful life of five years, and subject to impairment is amortised over

this period.

Other intangible assets

Intangible assets are stated at historical cost less provisions for amortisation and impairments.

The assets' residual values, useful lives and amortisation methods are reviewed, and adjusted prospectively if

appropriate, or if there is an indication of significant change since the last reporting date.

Database separately acquired is amortised over its estimated useful life of 5 years, using the straight-line basis,

from the time is was available for use.

Software separately acquired is being amortised on a straight line basis over its estimated useful life of 2 years.

Gains and losses on disposals are determined by comparing proceeds with the carrying amount and are

recognised in the Income Statement.

Tangible fixed assets

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

Plant and machinery etc

-

50% on reducing balance and 25% on reducing balance

Financial instruments

Financial instruments are recognised in the balance sheet when the company has become a party to the

contractual provisions of the instrument. Financial instruments are classified as liabilities or equity in accordance

with the substance of the financial arrangement. The carrying amount is increased by finance costs of the period

and reduced by payments made in the period. Finance cost associated with borrowings classified as liabilities are

allocated over the period of the borrowing at a constant rate based on the carrying amount of the underlying

liability.

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 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 16 (2017 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 May 2017

and 30 April 2018

100

2,143,880

2,143,980

AMORTISATION

At 1 May 2017

22

464,507

464,529

Charge for year

20

634,231

634,251

At 30 April 2018

42

1,098,738

1,098,780

NET BOOK VALUE

At 30 April 2018

58

1,045,142

1,045,200

At 30 April 2017

78

1,679,373

1,679,451

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

5,085

At 30 April 2018

5,085

DEPRECIATION

Charge for year

1,825

At 30 April 2018

1,825

NET BOOK VALUE

At 30 April 2018

3,260

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

(1,170

)

12,098

Other debtors

125,276

2,250

124,106

14,348

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

35,798

-

Taxation and social security

41,999

78,445

Other creditors

371,526

345,397

449,323

423,842

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£ 1

100

100

9.	PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of

the company in an independently administered Fund. The pension charge represents contributions payable by the

company to the Fund for one Director and all "opted in " staff and amounted to £1,254 (2017: Nil). The accrued

premiums at the balance sheet date amounted to £227.

10.	CONTINGENT LIABILITIES

No contingent liabilities exist.

11.	CAPITAL COMMITMENTS

2018

2017

£

£

Contracted but not provided for in the

financial statements

-

-

12.	OTHER FINANCIAL COMMITMENTS

During the period the company entered into various operating leases. The committed aggregate liability of all

such leases at the period end was £45,400 (2017: £2,978).

13.	ULTIMATE CONTROLLING PARTY

The controlling party is any group of shareholders acting in concert and having a majority vote.