Lane IP Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08093380 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

LANE IP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S J Lane

Ms N A Clare

REGISTERED OFFICE:

Rae House

Dane Street

Bishops Stortford

Herts

CM23 3BT

BUSINESS ADDRESS:

2 Throgmorton Avenue

London

EC2N 2DG

REGISTERED NUMBER:

08093380 (England and Wales)

ACCOUNTANTS:

Barrow LLP

Rae House

Dane Street

Bishops Stortford

Herts

CM23 3BT

FIXED ASSETS

Tangible assets

5

66,314

101,283

CURRENT ASSETS

Debtors

6

4,720,733

4,445,488

Cash at bank and in hand

1,006,997

206,714

5,727,730

4,652,202

CREDITORS

Amounts falling due within one year

7

(4,374,842

)

(3,880,092

)

NET CURRENT ASSETS

1,352,888

772,110

TOTAL ASSETS LESS CURRENT LIABILITIES

1,419,202

873,393

PROVISIONS FOR LIABILITIES

(12,600

)

(17,218

)

NET ASSETS

1,406,602

856,175

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

1,406,502

856,075

SHAREHOLDERS' FUNDS

1,406,602

856,175

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 Profit and Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 28 March 2019 and were signed on its behalf by:

S J Lane - Director

1.	STATUTORY INFORMATION

Lane IP Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Straight line over 5 years

Computer equipment

-

Straight line over 3 years

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the

instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a

financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of

interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal

business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present

value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are

measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If

there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a

carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not

previously been recognised.

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.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2017 - 23 ) .

5.	TANGIBLE FIXED ASSETS

Short

Computer

leasehold

equipment

Totals

£

£

£

COST

At 1 July 2017

143,623

96,056

239,679

Additions

-

15,198

15,198

At 30 June 2018

143,623

111,254

254,877

DEPRECIATION

At 1 July 2017

83,085

55,311

138,396

Charge for year

28,725

21,442

50,167

At 30 June 2018

111,810

76,753

188,563

NET BOOK VALUE

At 30 June 2018

31,813

34,501

66,314

At 30 June 2017

60,538

40,745

101,283

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

2,554,276

3,030,790

Other debtors

2,166,457

1,414,698

4,720,733

4,445,488

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade creditors

3,349,059

2,739,829

Taxation and social security

726,174

579,513

Other creditors

299,609

560,750

4,374,842

3,880,092

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.18

30.6.17

value:

£

£

100

Ordinary

£1

100

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2018 and 30 June 2017:

30.6.18

30.6.17

£

£

S J Lane

Balance outstanding at start of year

266,023

(202,250

)

Amounts advanced

477,313

468,273

Amounts repaid

(424,773

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

318,563

266,023