REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE PERIOD |
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8TH APRIL 2014 TO 31ST MARCH 2015 |
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FOR |
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CVS LAW LTD |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE PERIOD |
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8TH APRIL 2014 TO 31ST MARCH 2015 |
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FOR |
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CVS LAW LTD |
CVS LAW LTD (REGISTERED NUMBER: 08983654) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE PERIOD 8TH APRIL 2014 TO 31ST MARCH 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
CVS LAW LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 8TH APRIL 2014 TO 31ST MARCH 2015 |
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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 Tax Advisers and |
Chartered Certified Accountants |
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CVS LAW LTD (REGISTERED NUMBER: 08983654) |
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ABBREVIATED BALANCE SHEET |
31ST MARCH 2015 |
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Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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PROVISIONS FOR LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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706,738 |
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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. |
CVS LAW LTD (REGISTERED NUMBER: 08983654) |
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ABBREVIATED BALANCE SHEET - continued |
31ST MARCH 2015 |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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CVS LAW LTD (REGISTERED NUMBER: 08983654) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE PERIOD 8TH APRIL 2014 TO 31ST MARCH 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance |
with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company |
qualifies as a small company. |
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Turnover / revenue recognition |
Turnover 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 company obtains the right to |
consideration in exchange for its performance under those 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 are included in creditors. |
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Fee income that is contingent on events outside the control of the firm is recognised when the |
contingent event occurs. |
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Goodwill |
The goodwill is initially recognised at its cost and is being amortised on a systematic basis over its |
useful life of 2 years. |
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Tangible fixed assets |
Depreciation is calculated to write down the cost of tangible fixed assets other than freehold land by |
equal annual instalments from the date of purchase over their estimated useful economic lives as |
follows: |
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Office furniture fittings and equipment 2-4 years |
Solicitors Accounts Rules system software 2 years |
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The carrying values of tangible fixed assets are reviewed for impairment when events or changes in |
circumstances indicate that the carrying values may not be recoverable. |
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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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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. |
CVS LAW LTD (REGISTERED NUMBER: 08983654) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE PERIOD 8TH APRIL 2014 TO 31ST MARCH 2015 |
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1. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis |
over the period of the lease. |
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Pension costs and other post- retirement benefits |
The company contributes to staff stakeholder and personal pension schemes. The contributions are |
charged to the profit and loss account in the period when they are due. |
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Computer software |
With the exception of the principal accounting system for compliance with the Solicitors Accounts |
Rules, which is referred to as "SAR systems software" and is treated as a tangible fixed asset, |
expenditure on computer software is charged to the profit and loss in the year incurred. |
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Insurance agreements |
Insurance cover in respect of professional negligence claims is carried. Cover is written through the |
commercial market. Where appropriate, provision is made for the expected outcome of claims. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
Additions |
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At 31st March 2015 |
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AMORTISATION |
Amortisation for period |
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At 31st March 2015 |
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NET BOOK VALUE |
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At 31st March 2015 |
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CVS LAW LTD (REGISTERED NUMBER: 08983654) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE PERIOD 8TH APRIL 2014 TO 31ST MARCH 2015 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
Additions |
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At 31st March 2015 |
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DEPRECIATION |
Charge for period |
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At 31st March 2015 |
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NET BOOK VALUE |
At 31st March 2015 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary | 1 |
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