FG Solicitors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06623814 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

FG SOLICITORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

F Graham

SECRETARY:

Mrs S Y Graham

REGISTERED OFFICE:

2 Deanery Court

Grange Farm

Preston Deanery

Northampton

Northamptonshire

NN7 2DT

REGISTERED NUMBER:

06623814 (England and Wales)

ACCOUNTANTS:

Cube Partners Limited

Chartered Accountants

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

FIXED ASSETS

Intangible assets

4

169,271

185,521

Tangible assets

5

2,119

8,401

171,390

193,922

CURRENT ASSETS

Debtors

6

223,881

279,470

Cash at bank and in hand

444

33

224,325

279,503

CREDITORS

Amounts falling due within one year

7

229,190

213,237

NET CURRENT (LIABILITIES)/ASSETS

(4,865

)

66,266

TOTAL ASSETS LESS CURRENT LIABILITIES

166,525

260,188

CREDITORS

Amounts falling due after more than one year

8

(52,695

)

(66,835

)

PROVISIONS FOR LIABILITIES

-

(954

)

NET ASSETS

113,830

192,399

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

113,730

192,299

SHAREHOLDERS' FUNDS

113,830

192,399

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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.

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 4 January 2019 and were signed by:

F Graham - Director

1.	STATUTORY INFORMATION

FG Solicitors Limited 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 represents net invoiced sales of services and value of work in progress, excluding value added tax

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised over its

estimated useful life of twenty 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

-

20% on cost

Fixtures and fittings

-

10% on cost

Computer equipment

-

20% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company makes contributions to personal pension plan's for certain employees. Contributions payable are

charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2017

and 30 April 2018

325,000

AMORTISATION

At 1 May 2017

139,479

Amortisation for year

16,250

At 30 April 2018

155,729

NET BOOK VALUE

At 30 April 2018

169,271

At 30 April 2017

185,521

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 May 2017

and 30 April 2018

4,888

9,288

55,138

69,314

DEPRECIATION

At 1 May 2017

4,888

6,241

49,784

60,913

Charge for year

-

928

5,354

6,282

At 30 April 2018

4,888

7,169

55,138

67,195

NET BOOK VALUE

At 30 April 2018

-

2,119

-

2,119

At 30 April 2017

-

3,047

5,354

8,401

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

40,551

11,066

Other debtors

33,361

26,344

Directors' current accounts

98,283

195,382

Tax

1,810

-

Accrued income

37,981

31,543

Prepayments

11,895

15,135

223,881

279,470

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

80,527

96,667

Trade creditors

38,828

40,407

Tax

732

11,055

Social security and other taxes

2,334

2,920

VAT

35,440

17,190

Other creditors

30,223

32,277

Accruals & Deferred Income

41,106

12,721

229,190

213,237

The bank overdraft is secured against the assets of the company.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans - 2-5 years

52,695

66,835

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date £98,283 (2017: £195,382) was due from the director. Interest has been charged on this

loan and the amount was repaid after the year end.

10.	RELATED PARTY DISCLOSURES

During the year the company received services of £48,325 (2017: £71,550) from and provided services of £1,693

(2017: £1.799) to companies under common control.

During the year loans of £82,662 were made to (2017: £41,773 received from) and repayments of £37,090 were

received from (2017: £92,763 made to) companies under common control.

At the balance sheet date £33.361 (2017: £26,344) was owed by the companies under common control. The loans

have no repayment terms and are not subject to interest.

During the year, the company paid rent of £8,400 (2017: £4,500) to the director, for the use of the business trading

premises.