Lysander R&D Limited
Lysander R&D Limited
Registered number: 08278253
Unaudited Financial Statements
For The Year Ended 30 November 2018
Hamilton Blake
Chartered Tax Advisers and Accountants
9 - 10 Plowright Place
Swaffham
Norfolk
PE37 7LQ
Lysander R&D Limited
Unaudited Financial Statements
For The Year Ended 30 November 2018
Unaudited Financial Statements
| Contents | |
| Page | |
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| Accountant's Report | 1 |
| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—6 |
Lysander R&D Limited
Accountant's Report
For The Year Ended 30 November 2018
Accountant's Report
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the Company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Board of Directors, as a body, for our work or for this report.
You have acknowledged on the balance sheet as at year end your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements
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Chartered Tax Advisers and Accountants
9 - 10 Plowright Place
Swaffham
Norfolk
PE37 7LQ
Page 1
Lysander R&D Limited
Balance Sheet
As at
30 November 2018
Balance Sheet
Registered number:
08278253
For the year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 21,512 | 9,915 | |||
Page 2
Lysander R&D Limited
Balance Sheet (continued)
As at
30 November 2018
Director's responsibilities
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The member has 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. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 4 to 6 form part of these financial statements.
Page 3
Lysander R&D Limited
Notes to the Financial Statements
For The Year Ended 30 November 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Computer Equipment |
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1.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2018 | 2017 | ||
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| Office and administration |
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Page 4
Lysander R&D Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2018
3.
Tangible Assets
| Plant & Machinery | Computer Equipment | Total | |
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| £ | £ | £ | |
| Cost | |||
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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4.
Debtors
| 2018 | 2017 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Director's loan account | 13,755 | 6,752 | |
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5.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| VAT |
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| Barclaycard |
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| Accruals and deferred income |
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Page 5
Lysander R&D Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2018
7.
Directors Advances, Credits and Guarantees
| As at |
Amounts advanced | Amounts repaid | Amounts written off | As at |
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| £ | £ | £ | £ | £ | |
| Mr Paul Ravenhill |
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As at 30th November 2018, Mr P Ravenhill owed the company £13755 (2017: £6,752).
The balance has repaid after year end by dividend of £14,000 declared 31st July 2019.
This loan is interest free and repaybale upon demand. The balance is included within debtors
Mr P Ravenhill is the sole director and majority shareholder in Lysander R&D Limited owning 100% Ordinary share capital.
During the year, dividends were paid to Mr P Ravenhill £30,000 (2017:£15,000)
8.
General Information
Lysander R&D Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08278253 . The registered office is 9 - 10 Plowright Place, Swaffham, Norfolk, PE37 7LQ.
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