Company Registration No. 08015676 (England and Wales)
ST SISTERS SOLICITORS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
ST SISTERS SOLICITORS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ST SISTERS SOLICITORS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
683
1,131
Current assets
Debtors
3,854
24,252
Cash at bank and in hand
18,650
1,654
22,504
25,906
Creditors: amounts falling due within one year
(19,831)
(23,357)
Net current assets
2,673
2,549
Total assets less current liabilities
3,356
3,680
Provisions for liabilities
(137)
(226)
3,219
3,454
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
3,218
3,453
Shareholders' funds
3,219
3,454
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 31 January 2017
H Ustek
Director
Company Registration No. 08015676
ST SISTERS SOLICITORS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of trade discounts. Revenue recognition Services provided during the year to clients, that at the balance sheet date have not yet been billed, are recognised as turnover in accordance with Financial Reporting Standard 5 Application Note G "Revenue Recognition" and UITF Abstract 40 "Revenue Recognition and Service Contracts".Turnover is recognised by reference to an assessment of fair value of the services provided at the balance sheet date, as a proportion of the total value of the engagement. Fee income that is contingent on events outside the control of the company is recognised when the contingent event occurs.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
33.3% straight line
1.5
Revenue recognition
Services provided during the year to clients, that at the balance sheet date have not yet been billed, are recognised as turnover in accordance with Financial Reporting Standard 5 Application Note G "Revenue Recognition" and UITF Abstract 40 "Revenue Recognition and Service Contracts".Turnover is recognised by reference to an assessment of fair value of the services provided at the balance sheet date, as a proportion of the total value of the engagement.
Fee income that is contingent on events outside the control of the company is recognised when the contingent event occurs.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
ST SISTERS SOLICITORS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2015
3,866
Additions
319
At 30 April 2016
4,185
Depreciation
At 1 May 2015
2,735
Charge for the year
767
At 30 April 2016
3,502
Net book value
At 30 April 2016
683
At 30 April 2015
1,131
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary shares of £1 each
1
1