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RODL & PARTNER LEGAL LTD |
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Report of the Directors and |
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Financial Statements for the Year Ended 31 December 2020 |
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REGISTERED NUMBER:
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RODL & PARTNER LEGAL LTD |
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Report of the Directors and |
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Financial Statements for the Year Ended 31 December 2020 |
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RODL & PARTNER LEGAL LTD (REGISTERED NUMBER: 07059152) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2020 |
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Page |
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Company Information | 1 |
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Report of the Directors | 2 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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RODL & PARTNER LEGAL LTD |
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Company Information |
for the Year Ended 31 December 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Granville House |
2 Tettenhall Road |
Wolverhampton |
West Midlands |
WV1 4SB |
RODL & PARTNER LEGAL LTD (REGISTERED NUMBER: 07059152) |
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Report of the Directors |
for the Year Ended 31 December 2020 |
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The directors present their report with the financial statements of the company for the year ended 31 December 2020. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2020 to the date of this report. |
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GOING CONCERN |
In relation to the coronavirus pandemic, our business has not seen a major impact. Assignments have remained at a consistent level and additional work has been obtained regarding legal advice around the government guidelines and subsequent matters, such as job retention scheme advice. |
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The organisation has adjusted to circumstances and complied with government guidelines by having staff work from home as much as possible. Fortunately, with a few minor adjustments in the IT infrastructure, we have been able to have all staff members set up efficiently. In consequence, productivity has been reasonable and assignments could be turned around within our regular timelines. We have also assessed the current office infrastructure and have come to the conclusion that it is adequate under current circumstances for social distancing. As a result the directors believe that the ongoing adoption of the going concern basis for the preparation of the financial statements is appropriate. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
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AUDITORS |
The auditors, Lancaster Haskins Limited Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
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RODL & PARTNER LEGAL LTD (REGISTERED NUMBER: 07059152) |
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Report of the Directors |
for the Year Ended 31 December 2020 |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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RODL & PARTNER LEGAL LTD (REGISTERED NUMBER: 07059152) |
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Balance Sheet |
31 December 2020 |
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31.12.20 | 31.12.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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RODL & PARTNER LEGAL LTD (REGISTERED NUMBER: 07059152) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2020 |
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1. | STATUTORY INFORMATION |
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Rodl & Partner Legal Limited is a company limited by shares incorporated in the United Kingdom. The financial statements are presented in Sterling, which is also the functional currency of the company. The registered office is shown on the Company Information Page. The principal activity of the company is legal services. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover represents net value of services provided excluding value added tax. |
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Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax. |
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Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue is included in creditors. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Government grants |
Government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognised the related costs for which the grant is intended to compensate. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares of non-puttable ordinary shares which are measured at fair value, with changed recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
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RODL & PARTNER LEGAL LTD (REGISTERED NUMBER: 07059152) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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Going concern |
In relation to the coronavirus pandemic, our business has not seen a major impact. Assignments have remained at a consistent level and additional work has been obtained regarding legal advice around the government guidelines and subsequent matters, such as job retention scheme advice. |
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The organisation has adjusted to circumstances and complied with government guidelines by having staff work from home as much as possible. Fortunately, with a few minor adjustments in the IT infrastructure, we have been able to have all staff members set up efficiently. In consequence, productivity has been reasonable and assignments could be turned around within our regular timelines. We have also assessed the current office infrastructure and have come to the conclusion that it is adequate under current circumstances for social distancing. As a result the directors believe that the ongoing adoption of the going concern basis for the preparation of the financial statements is appropriate. |
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Changes in accounting policies |
In the absence of formal agreements, amounts owing to group companies are included in current liabilities. Although this complies with FRS 102, the directors consider it unlikely that such liabilities will be discharged within 12 months of the balance sheet date. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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RODL & PARTNER LEGAL LTD (REGISTERED NUMBER: 07059152) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2020 |
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Additions |
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At 31 December 2020 |
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DEPRECIATION |
At 1 January 2020 |
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Charge for year |
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At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Social security and other taxes |
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Other creditors |
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7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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8. | ULTIMATE CONTROLLING PARTY |
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The company is ultimately controlled by Dr C Rodl. |