Page 62 - Annual Review 2015-2016
P. 62
Notes to the Financial Statements
Year ended 30 April 2016
12. ACQUISITIONS (CONTINUED)
ACQUISITION OF SUBSIDIARY UNDERTAKINGS
On 1 January 2016 the LLP acquired 100% control of BridgehouseLaw Germany holding GbR and BridgehouseLaw Germany
RmbH, companies whose primary activity is Law services, for consideration comprising £415,000. The fair value of the assets
acquired was £415,000.
Fair value to
Book value Group
£’000 £’000
Fixed assets
Intangible 4 4
Tangible 102 102
Current assets
Amounts recoverable from clients in respect of unbilled work performed 163 163
Debtors 401 401
Cash 82 82
Total assets 752 752
Creditors
Trade creditors (177) (177)
Other creditors (160) (160)
Total liabilities (337) (337)
Net assets 415 415
Goodwill -
415
Satisfied by
Members capital introduced 415
In the year ended 30 April 2016, turnover of £970,000 and profit of £189,000 was included in the consolidated profit and loss
account in respect of BridgehouseLaw Germany holding GbR and BridgehouseLaw Germany RmbH since the acquisition date.
