LGAL CONSULTANCY LIMITED - Period Ending 31/01/2019

LGAL CONSULTANCY LIMITED - Period Ending 31/01/2019

LGAL CONSULTANCY LIMITED - Company Information

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REGISTERED NUMBER:10560108 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 January 2019

FOR

LGAL CONSULTANCY LIMITED

LGAL CONSULTANCY LIMITED

COMPANY INFORMATION
For The Period Ended 31 January 2019







DIRECTOR:Lesley Ann Stevenson





REGISTERED OFFICE:BRUNEL HOUSE 340 FIRECREST COURT
CENTRE PARK
WARRINGTON
CHESHIRE
WA1 1RG





REGISTERED NUMBER:10560108(England and Wales)





ACCOUNTANTS:Brookson Limited
Brunel House 340 Firecrest Court
Centre Park
Warrington
Cheshire
WA1 1RG
Page 1
LGAL CONSULTANCY LIMITED (REGISTERED NUMBER: 10560108)

BALANCE SHEET
31 January 2019

31 January 201931 January 2018
Notes£   £   £   £   
FIXED ASSETS
Tangible assets41,6931,710

CURRENT ASSETS
Debtors51800
Cash at bank23,84432,260
24,02432,260
CREDITORS
Amounts falling due within one year6(17,879)(18,784)
NET CURRENT ASSETS/(LIABILITIES)6,14513,476
TOTAL ASSETS LESS CURRENT LIABILITIES7,83815,186

CREDITORS
Amounts falling due after more than one year700
NET ASSETS/(LIABILITIES)7,83815,186

CAPITAL AND RESERVES
Called up share capital22
Retained earnings7,83615,184
7,83815,186

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2019.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges 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 director on 9 September 2019 and were signed by:





Lesley Ann Stevenson- Director

LGAL CONSULTANCY LIMITED (REGISTERED NUMBER: 10560108)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 January 2019


1.STATUTORY INFORMATION

LGAL CONSULTANCY LIMITED is a private company, limited by shares, registration number 10560108. The Registered office is BRUNEL HOUSE 340 FIRECREST COURT, CENTRE PARK, WARRINGTON, CHESHIRE, WA1 1RG.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Compliance with accounting standards

The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A small entities. There were no material departures from that standard.

2.ACCOUNTING POLICIES

Basis of accounting
These financial statements for the year ended 31 January 2019 are the first financial statements that comply with FRS 102 Section 1A small entities. The transition date is 12 January 2017.

The financial statements have been prepared under the historic cost convention,except that as disclosed in the accounting policies, certain items are shown at fair value. The presentational currency is in sterling which has been rounded to the nearest £1.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the course of the company's activities and is shown net of sales/value added tax, returns, rebates and discounts. Income is recognised when goods/services have been delivered/provided to clients should that risk and rewards of ownership have transferred to them.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulative impairment losses.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the useful
economic life of that asset as follows:

Fixtures & fittings - 15% reducing balance
Office equipment - 33% straight line
Motor vehicles - 25% reducing balance
Plant and machinery - 15% reducing balance

Stocks
Stock has been valued at the lower of cost and estimated selling price less costs to sell.

Foreign currency
Transactions in foreign currency are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

Pension costs
The company operates a defined contribution pension scheme and the pension cost charge represents the contributions payable by the company to the fund in respect of the period. The assets of the scheme are held separately from those of the company in an independently administered fund.

Deferred taxation
Deferred Taxation is provided on the liability method to take account of timing differences between treatment of certain items for accounts purposes and their treatment for tax. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Leasing
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated. Rentals payable under operating leases are charged to the statement of income and retained earnings on a sraight line basis over the period.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors loans. Bank Loans are initially measured at the present value of future payments, discounted at the market rate of interest and subsequently at amortised cost using the effective interest method. Directors Loan (being repayable on demand). Trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Going concern
The director reviews the financial position of the company from the date of approval of the accounts on an ongoing basis, and concludes that the company is able to meet all its liabilities as they fall due.

3.EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1.

4.TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 February 20181,877
Additions607
At 31 January 20192,483
DEPRECIATION
At 1 February 2018167
Charge for year624
At 31 January 2019791
NET BOOK VALUE
At 31 January 20191,693
At 31 January 20181,710
LGAL CONSULTANCY LIMITED (REGISTERED NUMBER: 10560108)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2019

5.DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31 January 201931 January 2018
£   £   
Trade debtors1800
Other debtors00
1800
6.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31 January 201931 January 2018
£   £   
Trade creditors174174
Taxation and social security16,10018,468
Other creditors1,605142
17,87918,784

7.CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31 January 201931 January 2018
£   £   
Trade creditors00

8.RECONCILIATION OF MOVEMENTS IN RESERVES
£   
Profit for the financial period55,272
Dividends(62,620)
New share capital subscribed0
Net addition to reserves(7,348)
Opening reserves15,186
Closing reserves7,838

9.TRANSITION TO FRS102

The transition to FRS102 Section 1A for Small Entities has not resulted in any changes to accounting policies to those used
previously.
LGAL CONSULTANCY LIMITED (REGISTERED NUMBER: 10560108)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 January 2019

10.Post balance sheet events

There are no material non-adjusting post balance sheet events to report.