Refreshing Law Limited Accounts

REFRESHING LAW LIMITED - Company Information






Refreshing Law Limited
	Company No. 08567482
		Information for Filing with The Registrar
		31 March 2018

The Director presents her report and the accounts for the year ended 31 March 2018.

Principal activities
The principal activity of the company during the year under review was Employment lawyer.




Director

The Director who served at any time during the year was as follows:

A.L. Denton-Jones



































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

A.L. Denton-Jones
Director
04 May 2018

at	31 March 2018

Company No.		08567482	Notes	2018	2017
				£	£
Fixed assets

	Tangible assets		2	1,261	1,940


				1,261	1,940
Current assets
	Work In Progress		3	4,060	3,530
	Debtors		4	36,197	32,599

	Cash at bank and in hand			50,012	24,775
				90,269	60,904
Creditors: Amount falling due within one year			5	(45,035)	(16,782)
Net current assets				45,234	44,122
Total assets less current liabilities				46,495	46,062




Net assets				46,495	46,062

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		6	46,395	45,962

Total equity				46,495	46,062


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2018 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 04 May 2018

And signed on its behalf by:

A.L. Denton-Jones
Director

for the year ended 31 March 2018

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover represents the fair value of services provided during the year on client assignments. Fair value reflects the amounts expected to be recoverable from clients based on time spent, skills provided and expenses incurred and exclude VAT.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

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

Plant and machinery

25% Straight Line

Furniture, fittings and equipment

25% Straight Line

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.
No depreciation is provided in respect of investment properties.

Investments

Unlisted investments are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Work In Progress

Work In Progress relates to unbilled income on individual client assignments as included as amounts recoverable on contracts within current assets

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).
Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

2	Tangible fixed assets
			Plant and machinery	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 April 2017	230	5,171	5,401




		At 31 March 2018	230	5,171	5,401
		Depreciation
		At 1 April 2017	230	3,231	3,461
		Charge for the year	-	679	679



		At 31 March 2018	230	3,910	4,140
		Net book values
		At 31 March 2018	-	1,261	1,261
		At 31 March 2017	-	1,940	1,940

3	Stocks
			2018	2017
			£	£

		Work in progress	4,060	3,530

			4,060	3,530

4	Debtors
			2018	2017
			£	£
		Trade debtors	30,368	27,601






		Prepayments and accrued income	5,829	4,998
			36,197	32,599

5	Creditors:
		amounts falling due within one year
			2018	2017
			£	£




		Trade creditors	679	990

		Corporation tax	25,402	18,026
		Other taxes and social security	14,629	10,673
		Loans from directors	1,397	(13,691)

		Accruals and deferred income	2,928	784
			45,035	16,782

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

7	Dividends
			2018	2017
			£	£
		Dividends for the period:
		Dividends paid in the period	107,000	50,000

			107,000	50,000

		Dividends by type:

		Equity dividends	107,000	50,000
			107,000	50,000

Related party disclosures

Controlling parties

Immediate controlling party

A L Denton-Jones

Ultimate controlling party

A L Denton-Jones

Additional information

Its registered number is:

08567482

Its registered office is:

2 Grange Close

Wenvoe, Cardiff

Vale of Glamorgan

CF5 6AT