TT Law Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08344772 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2020

FOR

TT LAW LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss R E Thompson

K Turnbull

REGISTERED OFFICE:

Cobalt 3.1

Silver Fox Way

Newcastle upon Tyne

NE27 0QJ

REGISTERED NUMBER:

08344772 (England and Wales)

ACCOUNTANTS:

T O'Sullivan Limited

Verdemar House

230 Park View

Whitley Bay

Tyne and Wear

NE26 3QR

FIXED ASSETS

Tangible assets

4

13,638

22,508

CURRENT ASSETS

Debtors

38,709

55,195

Cash at bank

87,382

75,807

126,091

131,002

CREDITORS

Amounts falling due within one year

97,353

123,816

NET CURRENT ASSETS

28,738

7,186

TOTAL ASSETS LESS CURRENT LIABILITIES

42,376

29,694

PROVISIONS FOR LIABILITIES

5

2,712

3,440

NET ASSETS

39,664

26,254

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

39,564

26,154

SHAREHOLDERS' FUNDS

39,664

26,254

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2021 and were signed on its behalf by:

Miss R E Thompson - Director

1.	STATUTORY INFORMATION

TT Law Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 6 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2019

54,998

Additions

2,813

At 31 July 2020

57,811

DEPRECIATION

At 1 August 2019

32,490

Charge for year

11,683

At 31 July 2020

44,173

NET BOOK VALUE

At 31 July 2020

13,638

At 31 July 2019

22,508

5.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

2,712

3,440

Deferred

tax

£

Balance at 1 August 2019

3,440

Provided during year

(728

)

Balance at 31 July 2020

2,712

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100