LF Infrastructure Limited - Accounts to registrar (filleted) - small 18.2

LF Infrastructure Limited - Accounts to registrar (filleted) - small 18.2

LF INFRASTRUCTURE LIMITED - Company Information

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REGISTERED NUMBER: 09038859 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

FOR

LF INFRASTRUCTURE LIMITED
LF INFRASTRUCTURE LIMITED (REGISTERED NUMBER: 09038859)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LF INFRASTRUCTURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2018







DIRECTOR: Mr F Kane





REGISTERED OFFICE: Yard 1 Barton Industrial Estate
Faldo Road
Barton Le Clay
Bedforshire
MK45 4RP





REGISTERED NUMBER: 09038859 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA
Page 1
LF INFRASTRUCTURE LIMITED (REGISTERED NUMBER: 09038859)

STATEMENT OF FINANCIAL POSITION
31 JULY 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 222,138 15,602

CURRENT ASSETS
Debtors 5 3,810,597 1,623,808
Cash at bank and in hand 19,800 54,189
3,830,397 1,677,997
CREDITORS
Amounts falling due within one year 6 2,242,580 797,988
NET CURRENT ASSETS 1,587,817 880,009
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,809,955
895,611

CREDITORS
Amounts falling due after more than one
year
7
155,762
12,993
NET ASSETS 1,654,193 882,618

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,654,192 882,617
1,654,193 882,618

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 26 April 2019 and were signed by:





Mr F Kane - Director


The notes form part of these financial statements

Page 2
LF INFRASTRUCTURE LIMITED (REGISTERED NUMBER: 09038859)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018

1. STATUTORY INFORMATION

LF Infrastructure 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.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period or in the period of the revision and future periods where the revision affects both current and future
periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Revenue is recognised when it is probable that an economic benefit will flow to the entity and the revenue and
costs can be reliably measured.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment
losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances
indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful
lives.

Plant and machinery - 25% on cost
Motor vehicles - 25% on cost

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.


Page 3 continued...
LF INFRASTRUCTURE LIMITED (REGISTERED NUMBER: 09038859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2018

2. ACCOUNTING POLICIES - continued
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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short
term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly
liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant
risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in
profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes
recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2017 - 15 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2017 - 20,803 20,803
Additions 1,292 247,056 248,348
Disposals - (20,803 ) (20,803 )
At 31 July 2018 1,292 247,056 248,348
DEPRECIATION
At 1 August 2017 - 5,201 5,201
Charge for year 150 29,636 29,786
Eliminated on disposal - (8,777 ) (8,777 )
At 31 July 2018 150 26,060 26,210
NET BOOK VALUE
At 31 July 2018 1,142 220,996 222,138
At 31 July 2017 - 15,602 15,602

Page 4 continued...
LF INFRASTRUCTURE LIMITED (REGISTERED NUMBER: 09038859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2018

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 2,049,209 212,664
Amounts owed by group undertakings 881,525 790,318
Other debtors 879,863 620,826
3,810,597 1,623,808

Included in Trade Debtors is an amount of £2,023,905 (2017: £212,644) subject to factoring by Royal Bank of
Scotland. Royal Bank of Scotland has fixed and floating charge over all property or undertaking of the
company, and contains negative pledge.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts - 16,810
Hire purchase contracts 53,112 2,233
Trade creditors 181,441 138,656
Taxation and social security 464,295 214,457
Other creditors 1,543,732 425,832
2,242,580 797,988

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Hire purchase contracts 155,762 12,993

8. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Invoice discounting 966,389 155,779

The trade debtors balance represent debts subject to invoice discounting by Royal Bank of Scotland.
Included in other creditors is an amount of £966,389 (2017: £155,779) owed to Royal Bank of Scotland. It has
fixed and floating charge over the undertaking and all property, and contains negative pledge. The director has
given his personal guarantee limited to £150,000 on the debt.

9. RELATED PARTY DISCLOSURES

Included in debtors is an amount of £881,525 (2017: £790,318) due from connected companies under common
control and directorship. This loan is interest free and repayable on demand.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.

Page 5