Motor Accident Solicitors Services Limited - Period Ending 2017-06-30
Motor Accident Solicitors Services Limited - Period Ending 2017-06-30
Registration number:
for the Year Ended
Pages for filing with Registrar
The Tramshed
25 Lower Park Row
Bristol
BS1 5BN
Motor Accident Solicitors Services Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Motor Accident Solicitors Services Limited
Company Information
Director |
A Shaw |
Registered office |
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Registered number |
03427597 |
Accountants |
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Motor Accident Solicitors Services Limited
(Registration number: 03427597)
Balance Sheet as at 30 June 2017
Note |
2017 |
2016 |
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Current assets |
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Debtors |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
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Motor Accident Solicitors Services Limited
(Registration number: 03427597)
Balance Sheet as at 30 June 2017
Approved and authorised by the
.........................................
A Shaw
Director
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Motor Accident Solicitors Services Limited
Notes to the Financial Statements for the Year Ended 30 June 2017
Statutory information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies
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.
Statement of compliance
These financial statements have been prepared in compliance 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 are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
These accounts for the year ended 30 June 2017 are the first financial statements for Motor Accident Solicitors Services Limited to be prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (FRS102) as applied to smaller entities by the adoption of Section 1A of FRS 102. The financial statements for the period ended 30 June 2016 were prepared in accordance with the Financial Reporting Standard for Smaller entities (FRSSE) (effective January 2015). The date of transition to FRS 102 was 1 January 2015.
Some of the FRS102 recognition, measurement, presentation and disclosure requirements and accounting policy choices differ from FRSSE. Consequently, the directors have amended certain accounting policies to comply with FRS102.
The reported financial position and financial performance for the previous period are not affected by the transition to FRS102.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
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Motor Accident Solicitors Services Limited
Notes to the Financial Statements for the Year Ended 30 June 2017
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Taxation |
No liability to UK corporation tax arose on ordinary activities for the year ended 30 June 2017 nor for the period ended 30 June 2016.
Debtors: amounts falling due within one year |
30 June 2017 |
30 June 2016 |
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Trade debtors |
- |
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- |
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Motor Accident Solicitors Services Limited
Notes to the Financial Statements for the Year Ended 30 June 2017
Creditors: amounts falling due within one year |
Note |
2017 |
2016 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other creditors |
- |
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Share capital |
Allotted, called up and fully paid shares
30 June 2017 |
30 June 2016 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Related party transactions |
Summary of transactions with parent
On 1 July 2017 the trade and assets of Motor Accident Solicitors Services Limited were transferred to Motor Accident Solicitors Society. The comparative amounts presented in the financial statements are therefore not entirely comparable.
The assets that were transferred are as follows:
£ |
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Assets |
11,200 |
Liabilities |
(11,200) |
- |
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