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Acuity Law Limited |
previously known as |
Acuity Legal Limited |
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Financial Statements for the Year Ended 30 November 2018 |
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Acuity Law Limited |
previously known as |
Acuity Legal Limited |
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Financial Statements for the Year Ended 30 November 2018 |
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Acuity Law Limited |
previously known as |
Acuity Legal Limited |
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Company Information |
for the Year Ended 30 November 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Radnor House |
Greenwood Close |
Cardiff Gate Business Park |
Cardiff |
CF23 8AA |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Acuity Law Limited |
previously known as |
Acuity Legal Limited |
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The following reproduces the text of the report prepared for the directors in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act |
2006, the company is only required to file a Balance Sheet. Readers are cautioned that the |
Income Statement and certain other primary statements and the Report of the Directors are |
not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for |
your approval the financial statements of Acuity Law Limited previously known as Acuity Legal |
Limited for the year ended 30 November 2018 which comprise the Profit & Loss Account, Balance |
Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Acuity Law Limited previously known as Acuity Legal Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Acuity Law Limited previously known as Acuity Legal Limited and state those matters that we have agreed to state to the Board of Directors of Acuity Law Limited previously known as Acuity Legal Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Acuity Law Limited previously known as Acuity Legal Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Acuity Law Limited previously known as Acuity Legal Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Acuity Law Limited previously known as Acuity Legal Limited. You consider that Acuity Law Limited previously known as Acuity Legal Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Acuity Law Limited previously known as Acuity Legal Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
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Acuity Law Limited |
previously known as |
Acuity Legal Limited (Registered number: 07545730) |
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Balance Sheet |
30 November 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Work in progress |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
8 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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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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Acuity Law Limited |
previously known as |
Acuity Legal Limited (Registered number: 07545730) |
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Balance Sheet - continued |
30 November 2018 |
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The directors acknowledge their 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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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Acuity Law Limited |
previously known as |
Acuity Legal Limited (Registered number: 07545730) |
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Notes to the Financial Statements |
for the Year Ended 30 November 2018 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration receivable or received excluding |
discounts, rebates and value added tax in relation to the provision of legal and associated |
consultancy services. |
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Goodwill |
Goodwill being the amount paid in connection with the acquisition of two businesses in 2018, |
is being amortised evenly over the estimated useful life of five years. |
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Tangible fixed assets |
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Furniture & fittings | - |
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Computer equipment | - |
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Work in progress |
Income due in respect of contracts for uninvoiced ongoing services is recognised by |
reference to the stage of completion at the year end. The amount of uninvoiced services is |
shown in the balance sheet as work in progress. Where work is undertaken on a no win no |
fee basis (also known as conditional fee arrangements) and the outcome is uncertain at the |
balance sheet date no income is recognised. |
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Pension costs |
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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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Acuity Law Limited |
previously known as |
Acuity Legal Limited (Registered number: 07545730) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2018 |
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3. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
Additions |
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At 30 November 2018 |
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AMORTISATION |
Amortisation for year |
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At 30 November 2018 |
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NET BOOK VALUE |
At 30 November 2018 |
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4. | TANGIBLE FIXED ASSETS |
Furniture | Computer |
& fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 December 2017 |
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Additions |
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At 30 November 2018 |
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DEPRECIATION |
At 1 December 2017 |
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Charge for year |
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At 30 November 2018 |
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NET BOOK VALUE |
At 30 November 2018 |
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At 30 November 2017 |
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Acuity Law Limited |
previously known as |
Acuity Legal Limited (Registered number: 07545730) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2018 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 December 2017 |
and 30 November 2018 |
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NET BOOK VALUE |
At 30 November 2018 |
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At 30 November 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors & prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxes & social security costs |
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Other creditors & accruals |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2018 | 2017 |
£ | £ |
Other creditors |
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9. | OTHER FINANCIAL COMMITMENTS |
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The company had total financial commitments of £2,099,663 (2017 - £562,107) at the |
balance sheet date. |
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This is made up of £2,019,621 (2017 - £551,784) in relation to a property leases, and |
£80,042 (2017 - £10,323) in relation to other equipment. |