Bristol Law Society - Period Ending 2015-11-30

Registration number: 00005295

Bristol Law Society

(A company limited by guarantee)

Annual report and unaudited financial statements

for the year ended 30 November 2015
 

Bristol Law Society
Contents

Company Information 1 to 2

Directors' report 3

Chartered accountants' report 4

Income and expenditure account 5

Balance sheet 6 to 7

Notes to the financial statements 8 to 11

Bristol Law Society
Company Information

President Mr John Moriarty     Immediate Past President Mr Michael Gupwell     Senior Vice President Mrs Rebecca Moyce     Junior Vice President Mr Gary Lightwood     Honorary Treasurer Mr Nicholas Lee     Honorary Secretary Miss Katherine Moyse     Law Society Member Mr Ian Kelcey     Special Member Ms Dagmar Steffens     JLD Representative Ms Laura Cavill     South West Regional   Law Society Representative Mr Matthew Still

Directors All of the above are Directors except for Mr Gary Lightwood, Mr Ian Kelcey, Ms
Dagmar Steffens, Ms Laura Cavill and Mr Matthew Still. All of the serving
Council Members noted on the next page are Directors apart from the following
who are solely Council Members:

Ms Janis Purdy
Ms Alexandra Robinson
Mr Ciaran Price
Mr Duncan Shaw

Page 1

Bristol Law Society
Company Information......... continued

Council Members	Ms Elizabeth Fry
	Mr Scott Silbereis
	Ms Joanne Campbell
	Mr Leon Smith
	Mrs Kerstin Kubiak	Resigned 27/11/2015
	Mr Richard Gore	Resigned 27/11/2015
	Mr Michael Westbrook	Resigned 27/11/2015
	Mr Marc White
	Mr Ben Holt
	Ms Coralie Mckeivor
	Ms Sarah Green
	Mr Marcus Keppel-Palmer	Resigned 27/11/2015
	Ms Sarah Sutherland
	Ms Stephanie Nunley
	Ms Melissa Conway	Resigned 27/11/2015
	Ms Janis Purdy
	Mr Duncan Shaw	Resigned 27/11/2015
	Mr Timothy Williams	Appointed 15/12/2015
	Ms Leonie Parkin	Appointed 14/12/2015
	Mr Ciaran Price	Appointed 27/11/2015
	Ms Alexandra Robinson	Appointed 17/12/2015
	Miss Ligia Bob	Resigned 27/11/2015

Registered Office

The Law Library The Law Courts Small Street Bristol BS1 1DA

Bankers

Lloyds Bank plc George White Street Cabot Circus Bristol BS1 3BA

Accountants

Milsted Langdon LLP Chartered Accountants One Redcliff Street Bristol BS1 6NP

Page 2

Bristol Law SocietyCouncil Members' Report for the year ended 30 November 2015

The Council Members present their report and the unaudited financial statements for the year ended 30 November 2015 .

Principal Activities

The principal activities of the Society are the representation of the solicitors' profession in Bristol and the interests of its members as practicing solicitors, the maintenance of a law library and the organisation of conferences and other educational activities for both its members and non-members.

The Directors' report has been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating to small companies.

Council Members
 
 The Council Members who served during the year were those set out on page 2 of these financial statements.


Close Society Provisions
 
 As far as the Council Memebers are aware, the close society provisions of the Income and Corporation Taxes Act 1998 do not apply to the Society. There has been no change in this respect since the end of the financial year.

Approved by the board on 24 August 2016 and signed on its behalf by:

.........................................
 Miss Katherine MoyseHonorary Secretary
 

Page 3

Chartered accountants' report to the board of directors on the preparation of the unaudited financial statements of
Bristol Law Society
for the year ended 30 November 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bristol Law Society for the year ended 30 November 2015 set out on pages 5 to 11 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.

This report is made solely to the council members of Bristol Law Society, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Bristol Law Society and state those matters that we have agreed to state to you, as a body, in this report in accordance with guidance issued by the ICAEW. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bristol Law Society and its Council Members as a body for our work or for this report.

It is your duty to ensure that Bristol Law Society 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 profit of Bristol Law Society. You consider that Bristol Law Society 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 Bristol Law Society. 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 financial statements.

......................................

Milsted Langdon LLP
Chartered Accountants
One Redcliff Street
Bristol
BS1 6NP

31 August 2016

Page 4

Bristol Law Society
Income and expenditure account account for the year ended 30 November 2015

		Note			2015 £			2014 £
Income		3			163,037			156,037
Expenditure					(54,945)			(59,245)
Gross surplus					108,092			96,792
Administrative expenses					(70,784)			(76,464)
Operating surplus		2			37,308			20,328
Surplus on ordinary activities before taxation					37,308			20,328
Surplus for the financial year		9			37,308			20,328

The notes on pages 8 to 11 form an integral part of these financial statements.
Page 5

Bristol Law Society
(Registration number: 00005295)
Balance sheet at 30 November 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		5			999			1,444
Current assets
Debtors		6			22,343			20,437
Cash at bank and in hand					190,725			145,739
					213,068			166,176
Creditors: amounts falling due within one year		7			(36,564)			(27,425)
Net current assets					176,504			138,751
Net assets					177,503			140,195
Capital and reserves
Income and expenditure account		9			177,503			140,195
					177,503			140,195

The notes on pages 8 to 11 form an integral part of these financial statements.
Page 6

Bristol Law Society
(Registration number: 00005295)
Balance sheet at 30 November 2015
......... continued

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 30 November 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the board on 24 August 2016 and signed on its behalf by:

.........................................
 Mr John MoriartyPresident

.........................................
Mr Nicholas Lee
Honorary Treasurer
 

The notes on pages 8 to 11 form an integral part of these financial statements.
Page 7

Bristol Law Society
Notes to the financial statements for the year ended 30 November 2015
......... continued

1	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Income

Income represents amounts chargeable, net of value added tax, of sales made during the year and derives from the provision of services falling within the company's ordinary activities.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation rate and method
Office and library equipment	20-33% straight line

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Deferred tax assets are recognised only to the extent that the Council Members consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Taxation

Bristol Law Society is a non-profit making organisation. Corporation tax is chargeable on the proportion of its trading surplus derived from non members.

Operating lease agreements

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2	Operating surplus

Operating surplus is stated after charging:

		2015 £			2014 £
Depreciation of tangible fixed assets		955			782
Hire of other assets (Operating leases)		1,787			4,139

Page 8

Bristol Law Society
Notes to the financial statements for the year ended 30 November 2015
......... continued

During the year, no members of the Council received any emoluments (2014 - £nil).

3

Income

The total turnover of the society for the year has been derived from its principal activity wholly undertaken in the UK.

	2015		2014
	£		£
Subscriptions	53,850		53,415
Sponsorship	6,000		16,167
Educational services income	20,600		23,500
Entertaining income	65,455		49,766
Library information services	7		360
Employment register	17,125		12,829
	163,037		156,037

4

Taxation

The company is a not for profit organisation. Whilst a surplus may arise in a particular period, the aim is to break even over time. In the opinion of the board of directors, the only taxable activity of the company is the supply of education services to non-members.

The company has losses available to carry forward against future profits of approximately £1,698 (2014 - £13,800).

Deferred Taxation

No provision has been made in the accounts. The amounts of unprovided deferred tax assets at the end of the year are as follows:

	2015   2014     £   £ Excess of depreciation over taxation allowances   (216)   (116) Tax losses available   (340)   (2,769)     (556)   (2,885)

Page 9

Bristol Law Society
Notes to the financial statements for the year ended 30 November 2015
......... continued

5	Tangible fixed assets

		Office and library equipment £			Total £
Cost or valuation
At 1 December 2014		100,307			100,307
Additions		510			510
At 30 November 2015		100,817			100,817
Depreciation
At 1 December 2014		98,863			98,863
Charge for the year		955			955
At 30 November 2015		99,818			99,818
Net book value
At 30 November 2015		999			999
At 30 November 2014		1,444			1,444

6

Debtors

		2015 £			2014 £
Trade debtors		14,169			7,396
Other debtors		8,174			13,041
		22,343			20,437

7	Creditors: amounts falling due within one year

		2015 £			2014 £
Trade creditors		6,713			7,959
Other taxes and social security		10,571			4,131
Other creditors		19,280			15,335
		36,564			27,425

Page 10

Bristol Law Society
Notes to the financial statements for the year ended 30 November 2015
......... continued

8	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £5 towards the assets of the company in the event of liquidation.

9

Reserves

		Income and expenditure account £			Total £
At 1 December 2014		140,195			140,195
Surplus for the year		37,308			37,308
At 30 November 2015		177,503			177,503

10

Control

The society was under the control of its Council Members throughout the current and preceding year .

Page 11