LSJ The Car Body Repair Specialist Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10514107 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

LSJ The Car Body Repair Specialist Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A P Roger

Mrs K B Goodings

REGISTERED OFFICE:

Unit 4 Old Airfield Industrial Estate

Cheddington Lane

Long Marston

Tring

Hertfordshire

HP23 4QR

REGISTERED NUMBER:

10514107 (England and Wales)

ACCOUNTANTS:

Lawrence Grant

Chartered Accountants

and Reporting Accountants

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

FIXED ASSETS

Tangible assets

4

19,630

21,863

CURRENT ASSETS

Stocks

3,000

3,000

Debtors

5

7,384

7,868

Cash at bank

15,819

25,081

26,203

35,949

CREDITORS

Amounts falling due within one year

6

39,282

56,399

NET CURRENT LIABILITIES

(13,079

)

(20,450

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,551

1,413

PROVISIONS FOR LIABILITIES

3,730

-

NET ASSETS

2,821

1,413

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,721

1,313

SHAREHOLDERS' FUNDS

2,821

1,413

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 27 September 2019 and were signed on its behalf by:

A P Roger - Director

1.	STATUTORY INFORMATION

LSJ The Car Body Repair Specialist 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.

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

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

Plant and machinery

-

20% reducing balance

Computer equipment

-

33% on cost

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 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.

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.

Going concern basis

The financial statements have been prepared on a going concern basis, which is dependent upon the company's

directors continuing to provide the necessary financial facilities, to enable the company to continue in operation

for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 January 2018

27,003

261

27,264

Additions

2,499

263

2,762

At 31 December 2018

29,502

524

30,026

DEPRECIATION

At 1 January 2018

5,401

-

5,401

Charge for year

4,820

175

4,995

At 31 December 2018

10,221

175

10,396

NET BOOK VALUE

At 31 December 2018

19,281

349

19,630

At 31 December 2017

21,602

261

21,863

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

6,160

7,868

Other debtors

1,224

-

7,384

7,868

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

-

2,139

Taxation and social security

11,538

6,377

Other creditors

27,744

47,883

39,282

56,399

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 were paid to the directors .

As at the period end date, the director, A P Roger had a credit balance on his director's current account in the

sum of £26,990 (2017: £42,972). This was an interest free loan to the company and is included within creditors

due within one year.

As at the period end date, the director, Mrs K B Goodings had a credit balance on her director's current account

in the sum of £648 (2017: £2,514). This was an interest free loan to the company and is included within creditors

due within one year.