Landcraft Projects Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02701013 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2018

for

Landcraft Projects Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

B A Upton

T O Evans

SECRETARY:

REGISTERED OFFICE:

Unit 3 Mill Farm

St Mellons Road

Lisvane

Cardiff

South Glamorgan

CF14 0SH

REGISTERED NUMBER:

02701013 (England and Wales)

ACCOUNTANTS:

Ralph Bettany Associates Ltd

1 Clare Street

Manselton

Swansea

SA5 9PG

FIXED ASSETS

Property, plant and equipment

5

149,878

181,016

CURRENT ASSETS

Inventories

397,833

159,010

Debtors

6

386,230

356,258

Cash at bank and in hand

148,110

93,299

932,173

608,567

CREDITORS

Amounts falling due within one year

7

481,113

258,866

NET CURRENT ASSETS

451,060

349,701

TOTAL ASSETS LESS CURRENT LIABILITIES

600,938

530,717

PROVISIONS FOR LIABILITIES

27,606

33,331

NET ASSETS

573,332

497,386

CAPITAL AND RESERVES

Called up share capital

8

4,050

4,050

Capital redemption reserve

950

950

Fair value reserve

9

25,589

25,589

Retained earnings

542,743

466,797

SHAREHOLDERS' FUNDS

573,332

497,386

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 May 2019 and were signed on its behalf by:

B A Upton - Director

1.	STATUTORY INFORMATION

Landcraft Projects 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.	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 represents net invoiced sales of goods and services, excluding value added tax, adjusted for the movement in

work in progress (less provisions) and for due but unpaid applications for payment.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 15% on cost and 10% on cost

Stocks

Inventories 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

inventories 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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

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

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 28 (2017 - 27 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 September 2017

431,749

Additions

13,227

Disposals

(53,023

)

At 31 August 2018

391,953

DEPRECIATION

At 1 September 2017

250,733

Charge for year

37,010

Eliminated on disposal

(45,668

)

At 31 August 2018

242,075

NET BOOK VALUE

At 31 August 2018

149,878

At 31 August 2017

181,016

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 September 2017

and 31 August 2018

19,764

DEPRECIATION

At 1 September 2017

8,326

Charge for year

1,907

At 31 August 2018

10,233

NET BOOK VALUE

At 31 August 2018

9,531

At 31 August 2017

11,438

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Trade debtors

351,713

337,578

Other debtors

34,517

18,680

386,230

356,258

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Hire purchase contracts

-

2,877

Trade creditors

282,784

116,067

Taxation and social security

44,711

48,877

Other creditors

153,618

91,045

481,113

258,866

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.18

31.8.17

value:

£

£

4,050

Ordinary

£1

4,050

4,050

9.

RESERVES

Fair

value

reserve

£

At 1 September 2017

and 31 August 2018

25,589