Lee Solicitors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07242923 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017

FOR

LEE SOLICITORS LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L McIlwaine

SECRETARY:

Mrs S M McIlwaine

REGISTERED OFFICE:

42-44 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BL

REGISTERED NUMBER:

07242923 (England and Wales)

ACCOUNTANTS:

Beeley Hawley & Co. Ltd

Chartered Accountants

42-44 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,356

2,822

Investments

6

29,900

29,900

32,256

32,722

CURRENT ASSETS

Stocks

1,763

1,763

Debtors

58,610

57,808

Cash at bank

175,570

193,843

235,943

253,414

CREDITORS

Amounts falling due within one year

2,726

12,794

NET CURRENT ASSETS

233,217

240,620

TOTAL ASSETS LESS CURRENT LIABILITIES

265,473

273,342

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

265,373

273,242

SHAREHOLDERS' FUNDS

265,473

273,342

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 August 2018 and were signed by:

L McIlwaine - Director

1.	STATUTORY INFORMATION

Lee Solicitors 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 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 have been prepared under the historical cost convention.

Turnover

Turnover is accounted for in accordance with UITF Abstract Note 40. No turnover is recognised on contingent

fees until the critical event has occurred.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on cost

Work in progress

Costs relating to no win no fee jobs are carried forward to offset against income as it arises. Costs carried

forward are reduced to reflect the proportion of cases won.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2016

and 31 August 2017

82,500

AMORTISATION

At 1 September 2016

and 31 August 2017

82,500

NET BOOK VALUE

At 31 August 2017

-

At 31 August 2016

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2016

8,197

Additions

940

At 31 August 2017

9,137

DEPRECIATION

At 1 September 2016

5,375

Charge for year

1,406

At 31 August 2017

6,781

NET BOOK VALUE

At 31 August 2017

2,356

At 31 August 2016

2,822

6.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2017

2016

£

£

Investments

29,900

29,900

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, the director maintained a current account with the company. At the year end, debtors included

£46,413 (2016 : £40,770) in respect of this amount. During the year £8,270 was advanced by the director and

£13,913 repaid to him in respect of this account. Interest was charged on the overdrawn account at the official

rate.