London Goods Transport Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07522457 (England and Wales)

LONDON GOODS TRANSPORT LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Balance Sheet

1

Notes to the Financial Statements

2

to

3

CURRENT ASSETS

Debtors

4

150,569

231,768

Cash at bank

39,506

44,848

190,075

276,616

CREDITORS

Amounts falling due within one year

5

355,369

387,286

NET CURRENT LIABILITIES

(165,294

)

(110,670

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(165,294

)

(110,670

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(165,296

)

(110,672

)

SHAREHOLDERS' FUNDS

(165,294

)

(110,670

)

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 director acknowledges her 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 director on 30 September 2019 and were signed by:

Mrs G K Dhillon - Director

1.	STATUTORY INFORMATION

London Goods Transport Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address are as below:

Registered number:

07522457

Registered office:

Bathurst House

50 Bathurst Walk

Iver

Buckinghamshire

SL0 9BH

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 represents income receivable in respect of services provided during the financial year, excluding value added tax.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

89,862

132,928

Other debtors

60,707

98,840

150,569

231,768

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

132,551

94,571

Taxation and social security

26,415

47,642

Other creditors

196,403

245,073

355,369

387,286

6.	RELATED PARTY DISCLOSURES

All lorries owned by London Goods Transport Limited were transferred to a company owned and controlled by a close

family member of the Director during the prior year. Any outstanding hire purchase balances were also transferred.

The transfer took place on 15/09/2017 at the value of the outstanding hire purchase balances at that date.

These lorries are now being rented back to London Goods Transport Limited on an arms length basis for use in its business.

The turnover shown in the financial statements is derived from contracts between London Goods Transport Limited and its

customers.

Included in other creditors is a balance of £187,738 (2017:£197,050). The amount is owed by the company to a former

director, who is a close relative of the existing director. No interest is payable on this amount.