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REGISTERED NUMBER: 07917274 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

MORSE LAW LIMITED

MORSE LAW LIMITED (REGISTERED NUMBER: 07917274)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MORSE LAW LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2017







DIRECTORS: J F Morse
A P Sivertsen
Miss L S J Johnson
Miss K S McGarrigle
Mrs M K Valerio





REGISTERED OFFICE: St. Helen's House
156 St. Helen's Road
Swansea
West Glamorgan
SA1 4DG





REGISTERED NUMBER: 07917274 (England and Wales)





ACCOUNTANTS: WBV Limited
The Third Floor,
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
West Glamorgan
SA1 8QY

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MORSE LAW LIMITED

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your
approval the financial statements of Morse Law Limited for the year ended 31 March 2017 which comprise
the Income Statement, Balance Sheet, and the related notes from the company's accounting records and
from information and explanations you have given us.

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.

This report is made solely to the Board of Directors of Morse Law 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 Morse Law Limited and state those matters that we have agreed to state to the Board of Directors of Morse Law 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 Morse Law Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Morse Law 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 Morse Law Limited. You consider that Morse Law Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Morse Law 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.






WBV Limited
The Third Floor,
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
West Glamorgan
SA1 8QY


21 December 2017

MORSE LAW LIMITED (REGISTERED NUMBER: 07917274)

BALANCE SHEET
31 MARCH 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 74,326 79,020
Tangible assets 5 14,617 1,652
88,943 80,672

CURRENT ASSETS
Debtors 6 343,408 286,116
Cash at bank and in hand 56,022 379
399,430 286,495
CREDITORS
Amounts falling due within one year 7 298,374 268,781
NET CURRENT ASSETS 101,056 17,714
TOTAL ASSETS LESS CURRENT
LIABILITIES

189,999

98,386

CREDITORS
Amounts falling due after more than
one year

8

(37,783

)

-

PROVISIONS FOR LIABILITIES (2,923 ) (330 )
NET ASSETS 149,293 98,056

MORSE LAW LIMITED (REGISTERED NUMBER: 07917274)

BALANCE SHEET - continued
31 MARCH 2017

2017 2016
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 149,193 97,956
SHAREHOLDERS' FUNDS 149,293 98,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 December 2017 and were signed
on its behalf by:




J F Morse - Director



A P Sivertsen - Director


MORSE LAW LIMITED (REGISTERED NUMBER: 07917274)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017

1. STATUTORY INFORMATION

Morse Law Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company
Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The practice has adopted Urgent Issues Task Force Abstract 40, Revenue Recognition and Service
Contracts.

Turnover represents revenue due from the normal activities of the practice to the extent that the
seller obtains a right to consideration in exchange for its performance of those activities, exclusive of
Value Added Tax.

The revenue recognised is measured by reference to the amounts likely to be chargeable to clients,
less a suitable allowance to recognise the uncertainties remaining in the completion of the
obligations. Contingent income is recognised only when once the contingent element is assured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 50% on cost

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


MORSE LAW LIMITED (REGISTERED NUMBER: 07917274)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed
at the balance sheet date.

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those
held under finance leases are depreciated over their estimated useful lives or the lease term,
whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease.

Pension costs and other post-retirement benefits
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.

Amounts recoverable on contracts
Amounts recoverable on contracts are valued in line with UITF 40, to include both cost and the
appropriate profit element.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2016 - 15 ) .

MORSE LAW LIMITED (REGISTERED NUMBER: 07917274)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2016
and 31 March 2017 93,885
AMORTISATION
At 1 April 2016 14,865
Charge for year 4,694
At 31 March 2017 19,559
NET BOOK VALUE
At 31 March 2017 74,326
At 31 March 2016 79,020

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2016 7,236 4,826 12,062
Additions 1,732 16,861 18,593
At 31 March 2017 8,968 21,687 30,655
DEPRECIATION
At 1 April 2016 5,584 4,826 10,410
Charge for year 1,815 3,813 5,628
At 31 March 2017 7,399 8,639 16,038
NET BOOK VALUE
At 31 March 2017 1,569 13,048 14,617
At 31 March 2016 1,652 - 1,652

The net book value of tangible fixed assets includes £ 13,048 in respect of assets held under hire
purchase contracts.

MORSE LAW LIMITED (REGISTERED NUMBER: 07917274)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 161,503 166,482
Amounts recoverable on contract 89,079 70,512
Other debtors 92,826 49,122
343,408 286,116

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 69,116 52,563
Hire purchase contracts 3,337 -
Taxation and social security 114,138 85,077
Other creditors 111,783 131,141
298,374 268,781

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2017 2016
£    £   
Bank loans 26,311 -
Hire purchase contracts 11,472 -
37,783 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank overdrafts 19,338 8,191
Bank loans 76,089 44,372
95,427 52,563

Mr J F Morse and Mr A P Sivertsen have given personal guarantees to the company's bankers in
respect of the company's bank borrowings.

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance
sheet amount to £158,610 (2016 - £185,943).

MORSE LAW LIMITED (REGISTERED NUMBER: 07917274)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017

11. RELATED PARTY DISCLOSURES

The company owed Mr J F Morse (Director) £66,583 at 31 march 2017 (2016: £93,690).Mr Morse
received dividends of £59,000 (2016: 8,000).

The company occupies premises owned by Mr Morse and his wife. The company paid rent of
£30,000 in the year(2016: £30,000).

The company owed Mr A P Sivertsen (Director) £594 at 31 march 2017 (2016: 594). Mr Sivertsen
received dividends of £111,000 (2016: £53,000).

The company paid dividends of £6,838 to Miss L S J Johnson (2016: £0).

12. ULTIMATE CONTROLLING PARTY

The controlling party is J F Morse.