| Lamifoil Limited |
| Notes to the Accounts |
| for the year ended 31 March 2019 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Motor vehicles |
over 5 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2019 |
|
2018 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2018 |
14,762 |
|
47,484 |
|
62,246 |
|
Additions |
2,200 |
|
- |
|
2,200 |
|
At 31 March 2019 |
16,962 |
|
47,484 |
|
64,446 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2018 |
13,010 |
|
17,650 |
|
30,660 |
|
Charge for the year |
850 |
|
7,458 |
|
8,308 |
|
At 31 March 2019 |
13,860 |
|
25,108 |
|
38,968 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2019 |
3,102 |
|
22,376 |
|
25,478 |
|
At 31 March 2018 |
1,752 |
|
29,834 |
|
31,586 |
|
|
| 4 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade debtors |
213,879 |
|
108,095 |
|
Other debtors |
2,547 |
|
2,331 |
|
|
|
|
|
|
216,426 |
|
110,426 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
1,813 |
|
9,067 |
|
Trade creditors |
170,929 |
|
135,903 |
|
Corporation tax |
618 |
|
1,314 |
|
Other taxes and social security costs |
107,253 |
|
43,977 |
|
Other creditors |
18,607 |
|
20,709 |
|
|
|
|
|
|
299,220 |
|
210,970 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Lamifoil Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
48 Mallinson Oval |
|
Harrogate |
|
HG2 9HJ |
