Company Registration No. 07039595 (England and Wales)
Ortolan Legal Limited
Abbreviated unaudited accounts
for the year ended 30 September 2016
Ortolan Legal Limited
Abbreviated Balance Sheet
as at
30 September 2016
Intangible assets
3,146
1,987
Tangible assets
1,421
1,266
Cash at bank and in hand
66,240
226,721
Creditors: amounts falling due within one year
(20,414)
(110,817)
Net current assets
106,145
182,760
Total assets less current liabilities
110,712
186,013
Provisions for liabilities
(281)
(253)
Net assets
110,431
185,760
Called up share capital
1
1
Profit and loss account
110,430
185,759
Total shareholders' funds
110,431
185,760
For the year ending 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 27 June 2017
N Benson
Director
Company Registration No. 07039595
Ortolan Legal Limited
Notes to the Abbreviated Accounts
for the year ended 30 September 2016
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its
performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT
and other sales tax or duty.
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% on cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
2
Intangible fixed assets
At 30 September 2016
3,538
At 30 September 2016
3,146
At 30 September 2015
1,987
Ortolan Legal Limited
Notes to the Abbreviated Accounts
for the year ended 30 September 2016
At 30 September 2016
6,311
At 30 September 2016
4,890
At 30 September 2016
1,421
At 30 September 2015
1,266
4
Share capital
2016
2015
Allotted, called up and fully paid:
95 A Ordinary shares of £0.01 each
0.95
0.95
5 B Ordinary shares of £0.01 each
0.05
0.05
5
Transactions with directors
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loan
4,336
-
4,336
-
During the year interim dividends were paid to the directors. N Benson £75,050 (2015: 30,000) and to C Beaumont £3,950 (2015: £26,702).