LMRA Trading Limited - Limited company accounts 18.2

REGISTERED NUMBER: 03565617 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

LMRA TRADING LIMITED

Page

Company Information

1

Report of the Directors

2

Chartered Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTORS:

Mr N R J Brasier

Mr B E Cudby

G M P Jarvis

Mr D C W Lloyd

Mr D J Stewart

SECRETARY:

G M P Jarvis

REGISTERED OFFICE:

Bisley Camp

Brookwood

Surrey

GU24 0PA

REGISTERED NUMBER:

03565617 (England and Wales)

ACCOUNTANTS:

Blue Spire Limited

Chartered Accountants

Cawley Priory

South Pallant

Chichester

West Sussex

PO19 1SY

The directors present their report with the financial statements of the company for the year ended 31 December 2018.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of accommodation.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2018 to the date of this report.

Mr N R J Brasier

Mr B E Cudby

G M P Jarvis

Mr D C W Lloyd

Mr D J Stewart

Other changes in directors holding office are as follows:

Ms S Millard - resigned 22 March 2018

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors

have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not

approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the

company and of the profit or loss of the company for that period. In preparing these financial statements, the directors

are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr N R J Brasier - Director

14 August 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of LMRA Trading Limited for the year ended 31 December 2018 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of LMRA Trading Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LMRA Trading Limited and state those matters that we have agreed to state to the Board of Directors of LMRA Trading Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LMRA Trading Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that LMRA Trading Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of LMRA Trading Limited. You consider that LMRA Trading Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of LMRA Trading Limited. 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 statutory financial statements.

Blue Spire Limited

Chartered Accountants

Cawley Priory

South Pallant

Chichester

West Sussex

PO19 1SY

29 August 2019

TURNOVER

87,865

65,573

Cost of sales

(39,310

)

(29,614

)

GROSS PROFIT

48,555

35,959

Administrative expenses

(34,522

)

(33,674

)

OPERATING PROFIT and

PROFIT BEFORE TAXATION

14,033

2,285

Tax on profit

(3,645

)

(3,148

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

10,388

(863

)

FIXED ASSETS

Tangible assets

4

12,068

26,648

CURRENT ASSETS

Debtors

5

7,216

11,627

Cash at bank

60,962

19,804

68,178

31,431

CREDITORS

Amounts falling due within one year

6

(210,906

)

(191,127

)

NET CURRENT LIABILITIES

(142,728

)

(159,696

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(130,660

)

(133,048

)

CREDITORS

Amounts falling due after more than one year

7

-

(8,000

)

NET LIABILITIES

(130,660

)

(141,048

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(130,760

)

(141,148

)

SHAREHOLDERS' FUNDS

(130,660

)

(141,048

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 14 August 2019 and were signed on its behalf by:

Mr N R J Brasier - Director

1.	STATUTORY INFORMATION

LMRA Trading 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated

deprecation and subsequent accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Land and building - Over remaining lease term

Fixtures and fittings - 25% Straight line

Equipment - 25% Straight line

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet 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

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

lease.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing

borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of

transactions costs, and the amount on redemption being recognised as a charge to the Profit and Loss Account

over the period of the relevant borrowing,

Interest expense is recognised on the basis of the effective interest method and is included in interest payable

and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement

of the liability for at least 12 months after the reporting date.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2018

and 31 December 2018

231,175

84,780

315,955

DEPRECIATION

At 1 January 2018

208,558

80,749

289,307

Charge for year

11,088

3,492

14,580

At 31 December 2018

219,646

84,241

303,887

NET BOOK VALUE

At 31 December 2018

11,529

539

12,068

At 31 December 2017

22,617

4,031

26,648

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

2,133

-

Amounts owed by group undertakings

1,831

8,375

Other debtors

3,252

3,252

7,216

11,627

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

4,194

2,942

Amounts owed to group undertakings

11,743

290

Taxation and social security

6,080

4,934

Other creditors

188,889

182,961

210,906

191,127

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

-

8,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

9.	FINANCIAL COMMITMENTS

Operating lease commitment

The company has an operating lease commitment in relation to rent of £3,650 (2017 - £3,650) at the year end.

10.	ULTIMATE CONTROLLING PARTY

The name of the company's parent and ultimate parent is London & Middlesex Rifle Association, Bisley Camp,

Brookwood, Surrey, GU24 0NY. Copies of the consolidated accounts can be obtained from the Charity

Commission website.