Lofthome U.K. Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09141421 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

FOR

LOFTHOME U.K. LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R Bening

REGISTERED OFFICE:

93 Bohemia Road

St Leonards on Sea

East Sussex

TN37 6RJ

REGISTERED NUMBER:

09141421 (England and Wales)

ACCOUNTANTS:

Acuity Professional (Sellens French) LLP

91-97 Bohemia Road

St Leonards on Sea

East Sussex

TN37 6RJ

FIXED ASSETS

Tangible assets

4

6,962

9,248

CURRENT ASSETS

Stocks

5

20,664

17,076

Debtors

6

86

222

Cash at bank

44

53

20,794

17,351

CREDITORS

Amounts falling due within one year

7

69,915

56,540

NET CURRENT LIABILITIES

(49,121

)

(39,189

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(42,159

)

(29,941

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

(42,259

)

(30,041

)

SHAREHOLDERS' FUNDS

(42,159

)

(29,941

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 21 March 2019 and were signed by:

Mr R Bening - Director

1.	STATUTORY INFORMATION

Lofthome U.K. 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.

TANGIBLE FIXED ASSETS

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

STOCKS

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

HIRE PURCHASE AND LEASING COMMITMENTS

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

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

At 1 August 2017

and 31 July 2018

372

21,323

21,695

Depreciation

At 1 August 2017

119

12,328

12,447

Charge for year

38

2,248

2,286

At 31 July 2018

157

14,576

14,733

Net book value

At 31 July 2018

215

6,747

6,962

At 31 July 2017

253

8,995

9,248

5.

STOCKS

2018

2017

£

£

Stocks

2,769

2,769

Work-in-progress

17,895

14,307

20,664

17,076

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

VAT

86

222

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other creditors

-

2,215

Directors' current accounts

69,195

53,606

Accruals and deferred income

720

719

69,915

56,540

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 August 2017

(30,041

)

Deficit for the year

(12,218

)

At 31 July 2018

(42,259

)

10.	GOING CONCERN

The Company has an excess of liabilities over assets of £42,159 and is dependent upon the continued support of

the director.