Laminvale Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04077953 (England and Wales)

LAMINVALE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2018

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mrs S J Hamson

Mr C M Hamson

REGISTERED OFFICE:

81 Burton Road

Derby

Derbyshire

DE1 1TJ

BUSINESS ADDRESS:

Lodge Farm

Barkestone Lane

Bottesford

NOTTINGHAM

NG13 0DH

REGISTERED NUMBER:

04077953 (England and Wales)

ACCOUNTANTS:

Johnson Tidsall Limited

Chartered Accountants

81 Burton Road

Derby

Derbyshire

DE1 1TJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

85,001

93,777

85,001

93,777

CURRENT ASSETS

Stocks

278,383

440,499

Debtors

6

182,764

101,666

Cash at bank

179,309

135,391

640,456

677,556

CREDITORS

Amounts falling due within one year

7

136,590

121,549

NET CURRENT ASSETS

503,866

556,007

TOTAL ASSETS LESS CURRENT LIABILITIES

588,867

649,784

PROVISIONS FOR LIABILITIES

3,777

4,308

NET ASSETS

585,090

645,476

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

584,990

645,376

SHAREHOLDERS' FUNDS

585,090

645,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 6 August 2019 and were signed on its behalf by:

Mrs S J Hamson - Director

1.	STATUTORY INFORMATION

Laminvale Ltd 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.	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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been

amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Improvements to property

-

Straight line over 15 years

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Tangible fixed assets are stated at cost or deemed cost less accumulated depreciation, Cost includes

costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

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.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument

is any contract that evidences a residual interest in the assets of the company after deducting all of

its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2017

and 30 November 2018

30,000

AMORTISATION

At 1 December 2017

and 30 November 2018

30,000

NET BOOK VALUE

At 30 November 2018

-

At 30 November 2017

-

The goodwill recognised in these accounts arose upon the purchase of the business from Mrs S J

Hamson trading as 'Hamson Marketing' on 1 November 2003.

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 December 2017

104,555

24,422

21,732

14,354

165,063

Additions

-

-

1,105

2,281

3,386

At 30 November 2018

104,555

24,422

22,837

16,635

168,449

DEPRECIATION

At 1 December 2017

30,799

14,315

16,727

9,445

71,286

Charge for year

6,973

2,528

1,223

1,438

12,162

At 30 November 2018

37,772

16,843

17,950

10,883

83,448

NET BOOK VALUE

At 30 November 2018

66,783

7,579

4,887

5,752

85,001

At 30 November 2017

73,756

10,107

5,005

4,909

93,777

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

39,788

52,405

Other debtors

1,225

-

Directors' current accounts

139,469

47,367

Prepayments and accrued income

2,282

1,894

182,764

101,666

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Payments on account

7,314

6,456

Trade creditors

100,648

64,585

Corporation tax

7,570

22,693

Social security and other taxes

1,704

1,386

VAT

13,089

17,925

Other creditors

2,693

4,354

Accruals and deferred income

3,572

4,150

136,590

121,549

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2018

and 30 November 2017:

2018

2017

£

£

Mr C M Hamson and Mrs S J Hamson

Balance outstanding at start of year

47,367

69,904

Amounts advanced

175,541

144,325

Amounts repaid

(83,439

)

(166,862

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

139,469

47,367

10.	RELATED PARTY DISCLOSURES

At 30 November 2018 the company was owed £139,469 (2017: £47,367) from the Directors.

Interest of 2.5% has been charged on this loan.