Lazinc Limited - Accounts to registrar (filleted) - small 18.2
Lazinc Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| FOR |
| LAZINC LIMITED |
| LAZINC LIMITED (REGISTERED NUMBER: 05091966) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| LAZINC LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| A trading name of PCM Accounting Limited |
| 2 Jardine House |
| The Harrovian Business Village |
| Bessborough Road |
| Harrow |
| Middlesex |
| HA1 3EX |
| LAZINC LIMITED (REGISTERED NUMBER: 05091966) |
| STATEMENT OF FINANCIAL POSITION |
| 30 APRIL 2018 |
| 30.4.18 | 30.4.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Inventories | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| LAZINC LIMITED (REGISTERED NUMBER: 05091966) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| 1. | STATUTORY INFORMATION |
| Lazinc Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| During the year under review, the company made a trading loss before taxation amounting to £1,332,536 (2017: |
| Loss of £27,928) and at the balance sheet date, the company had net current assets amounting to £421,649 |
| (2017: £798,845) and net liabilities amounting to £756,585 (2017 Net assets £555,585). |
| The company meets its day to day liabilities with the support of its directors and shareholders and the board have |
| taken this into account in their decision to prepare the company's accounts on a going concern basis. |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Leasehold improvements | - |
| Fixtures and fittings | - |
| Plant, machinery and computer equipment | - |
| Stocks |
| Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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. |
| 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. |
| LAZINC LIMITED (REGISTERED NUMBER: 05091966) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Plant, |
| machinery |
| Fixtures | and |
| Leasehold | and | computer |
| improvements | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 May 2017 |
| Additions |
| At 30 April 2018 |
| DEPRECIATION |
| At 1 May 2017 |
| Charge for year |
| At 30 April 2018 |
| NET BOOK VALUE |
| At 30 April 2018 |
| At 30 April 2017 |
| 5. | INVENTORIES |
| 30.4.18 | 30.4.17 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.18 | 30.4.17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.18 | 30.4.17 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation Tax |
| Social security and other taxes |
| Other creditors |
| Accruals & deferred income |
| LAZINC LIMITED (REGISTERED NUMBER: 05091966) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.4.18 | 30.4.17 |
| £ | £ |
| Bank loans | 2,808 | 12,808 |
| Amounts owed to group undertakings |
| 9. | PROVISIONS FOR LIABILITIES |
| 30.4.18 | 30.4.17 |
| £ | £ |
| Deferred tax | - | 20,366 |
| Deferred |
| tax |
| £ |
| Balance at 1 May 2017 |
| Credit to Statement of Comprehensive Income during year | ( |
) |
| Balance at 30 April 2018 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.4.18 | 30.4.17 |
| value: | £ | £ |
| Ordinary A | £1 | 65 | 65 |
| Ordinary B | £1 | 65 | 65 |
| 130 | 130 |
| During October, 2018, Alchemy Investments III Sarl, an existing director and significant shareholder, subscribed |
| for and was allotted a further 195 Ordinary B Shares in the company, for £1,000,000. From then onwards the |
| company has been controlled by Alchemy Investments III Sarl. |
| 11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 12. | RELATED PARTY DISCLOSURES |
| S Lazarides, a director and shareholder of Lazinc Limited, is a director and significant shareholder in Laz |
| Consultancy Limited, a trading company registered in the United Kingdom. |
| Other creditors include amounts due to Laz Consultancy Limited amounting to £146,802 (2017: £201,377). |