Lincs Drywall Limited - Accounts to registrar (filleted) - small 18.2

Lincs Drywall Limited - Accounts to registrar (filleted) - small 18.2

LINCS DRYWALL LIMITED - Company Information

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REGISTERED NUMBER: 05343071 (England and Wales)






















Financial Statements

for the Year Ended 31 January 2019

for

Lincs Drywall Limited
Lincs Drywall Limited (Registered number: 05343071)






Contents of the Financial Statements
for the Year Ended 31 January 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lincs Drywall Limited

Company Information
for the Year Ended 31 January 2019







DIRECTORS: K P Wilkes
J O Rainey
Mrs C A Wilkes





SECRETARY: Mrs C A Wilkes





REGISTERED OFFICE: 15 Newland
Lincoln
Lincolnshire
LN1 1XG





BUSINESS ADDRESS: 18A Bridge Street
Saxilby
Lincoln
Lincolnshire
LN1 2PZ





REGISTERED NUMBER: 05343071 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG
Page 1
Lincs Drywall Limited (Registered number: 05343071)

Balance Sheet
31 January 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,692 6,828

CURRENT ASSETS
Stocks 1,048 517
Debtors 5 1,979 1,802
Cash at bank 32,263 37,341
35,290 39,660
CREDITORS
Amounts falling due within one year 6 31,968 33,870
NET CURRENT ASSETS 3,322 5,790
TOTAL ASSETS LESS CURRENT
LIABILITIES
13,014
12,618

PROVISIONS FOR LIABILITIES 1,841 1,308
NET ASSETS 11,173 11,310

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 10,173 10,310
SHAREHOLDERS' FUNDS 11,173 11,310

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 July 2019 and were signed on its behalf by:




K P Wilkes - Director



J O Rainey - Director


The notes form part of these financial statements

Page 2
Lincs Drywall Limited (Registered number: 05343071)

Notes to the Financial Statements
for the Year Ended 31 January 2019

1. STATUTORY INFORMATION

Lincs Drywall 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.

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 net invoiced services provided, excluding value added tax.

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% on cost
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

Page 3 continued...
Lincs Drywall Limited (Registered number: 05343071)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2019

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2018 4,685 8,000 12,685
Additions 5,326 - 5,326
At 31 January 2019 10,011 8,000 18,011
DEPRECIATION
At 1 February 2018 3,857 2,000 5,857
Charge for year 962 1,500 2,462
At 31 January 2019 4,819 3,500 8,319
NET BOOK VALUE
At 31 January 2019 5,192 4,500 9,692
At 31 January 2018 828 6,000 6,828

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Prepayments 1,979 1,802

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 1,107 1,329
Corporation tax 18,467 18,694
Social security and other taxes 801 1,414
VAT 8,799 8,473
Directors' current accounts 609 860
Accrued expenses 2,185 3,100
31,968 33,870

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £    £   
1,000 Ordinary £1 1,000 1,000

8. OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £6,005 (2018 £9,437).
These amounts consist of operating lease commitments payable over the next two (2017 three ) years.

Page 4