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Unaudited Financial Statements |
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for the Year Ended 31 March 2021 |
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for |
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Morgan Rose Solicitors Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2021 |
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for |
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Morgan Rose Solicitors Limited |
Morgan Rose Solicitors Limited (Registered number: 08719298) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Morgan Rose Solicitors Limited |
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Company Information |
for the Year Ended 31 March 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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16 Beaufort Court |
Admirals Way |
London |
Docklands |
London |
E14 9XL |
Morgan Rose Solicitors Limited (Registered number: 08719298) |
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Balance Sheet |
31 March 2021 |
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31.3.21 | 31.3.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
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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( |
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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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The director acknowledges his 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. |
Morgan Rose Solicitors Limited (Registered number: 08719298) |
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Balance Sheet - continued |
31 March 2021 |
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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 director and authorised for issue on
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Morgan Rose Solicitors Limited (Registered number: 08719298) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
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1. | STATUTORY INFORMATION |
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Morgan Rose Solicitors Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised when the work is performed. |
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Goodwill |
Goodwill, being the amount created on incorporation of the sole trader business on 01/04/2014, is being amortised evenly over its estimated useful life. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Morgan Rose Solicitors Limited (Registered number: 08719298) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
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AMORTISATION |
At 1 April 2020 |
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Charge for year |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2020 |
and 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade debtors |
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Other debtors |
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Morgan Rose Solicitors Limited (Registered number: 08719298) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Pension Contributions | 1,635 | 1,568 |
VAT | 85,981 | 71,178 |
Other creditors |
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Bank Loans | 80,578 | 73,405 |
Directors' current accounts | 63,244 | 157,804 |
Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Bank Loans |
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Directors' accounts | 429,581 | 369,335 |
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The loans of £77,714 are multiple loans taken from financial institutions. The rates of interest for each loan is fixed over variable term lengths. |
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National Westminster Bank Plc has a fixed and floating charge over the asset of the company. The charge was registered on 18 December 2015. |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.21 | 31.3.20 |
£ | £ |
Within one year |
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Between one and five years |
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The above relates to the total amount payable in terms of rent by the company for the remaining term of the lease. |
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10. | RELATED PARTY DISCLOSURES |
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During the year the company declared dividends of £12,000. Mr Simon Rose is the 100% shareholder of the company. |