Company Registration No. 9448957 (England and Wales)
Lockhart-Cator Limited
Unaudited accounts
for the year ended 28 February 2019
Lockhart-Cator Limited
Unaudited accounts
Contents
Lockhart-Cator Limited
Company Information
for the year ended 28 February 2019
Company Number
9448957 (England and Wales)
Registered Office
12 ILEX COURT
NORWICH
NR7 8LG
ENGLAND
Accountants
Sharon Wray Accountancy Services
38A Barnham Broom Road
Wymondham
Norfolk
NR18 0DF
Lockhart-Cator Limited
Statement of financial position
as at 28 February 2019
Tangible assets
18,562
12,991
Inventories
173,997
89,476
Cash at bank and in hand
20,848
4,804
Creditors: amounts falling due within one year
(201,961)
(134,613)
Net current assets/(liabilities)
3,215
(12,989)
Total assets less current liabilities
21,777
2
Creditors: amounts falling due after more than one year
(21,775)
-
Called up share capital
2
2
For the year ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 24 July 2019.
Steven Cator
Director
Company Registration No. 9448957
Lockhart-Cator Limited
Notes to the Accounts
for the year ended 28 February 2019
Lockhart-Cator Limited is a private company, limited by shares, registered in England and Wales, registration number 9448957. The registered office is 12 ILEX COURT, NORWICH, NR7 8LG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Depreciation has been provided by the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line basis
Motor vehicles
25% reducing balance basis
Fixtures & fittings
25% straight line basis
Computer equipment
25% straight line basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Lockhart-Cator Limited
Notes to the Accounts
for the year ended 28 February 2019
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 March 2018
-
16,446
8,103
1,208
-
25,757
Additions
4,408
3,395
6,041
-
987
14,831
At 28 February 2019
4,408
19,841
14,144
1,208
987
40,588
At 1 March 2018
-
8,102
3,877
787
-
12,766
Charge for the year
441
4,840
3,361
421
247
9,310
On disposals
-
(50)
-
-
-
(50)
At 28 February 2019
441
12,892
7,238
1,208
247
22,026
At 28 February 2019
3,967
6,949
6,906
-
740
18,562
At 28 February 2018
-
8,344
4,226
421
-
12,991
Finished goods
173,997
89,476
Trade debtors
2,171
22,000
Accrued income and prepayments
8,160
-
7
Creditors: amounts falling due within one year
2019
2018
Trade creditors
11,468
5,471
Taxes and social security
17,138
16,809
Other creditors
170,000
102,040
Loans from directors
-
9,843
8
Creditors: amounts falling due after more than one year
2019
2018
Lockhart-Cator Limited
Notes to the Accounts
for the year ended 28 February 2019
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan from Director
9,843
21,775
9,843
21,775
9,843
21,775
9,843
21,775
The company owes the director £21,775, this is expected to be repaid during the next financial year.
10
Transactions with related parties
During the year, the company received a loan amounting to £21,775 from a member of key management personnel. The loan is to be repaid on 28 February 2020 and the rate of interest charged is 0%. At the balance sheet date, the loan was still outstanding and is presented within creditors: amounts falling due after more than one year.
The company's controlling party is Mr Steven Cator by virtue of his ownership of 50% of the issued share capital in the company.
12
Average number of employees
During the year the average number of employees was 6 (2018: 2).
