Lancroft Limited - Accounts to registrar (filleted) - small 18.2
Lancroft Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| FOR |
| Lancroft Limited |
| Lancroft Limited (Registered number: 05942387) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 28 February 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Lancroft Limited |
| COMPANY INFORMATION |
| for the Year Ended 28 February 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Webb House |
| 20 Bridge Road |
| Park Gate |
| Southampton |
| Hampshire |
| SO31 7GE |
| Lancroft Limited (Registered number: 05942387) |
| BALANCE SHEET |
| 28 February 2019 |
| 28.2.19 | 28.2.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Lancroft Limited (Registered number: 05942387) |
| BALANCE SHEET - continued |
| 28 February 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Lancroft Limited (Registered number: 05942387) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 28 February 2019 |
| 1. | STATUTORY INFORMATION |
| Lancroft Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue recognition |
| Revenue - described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus |
| the value of work (net of VAT) performed during the year with respect to services. |
| Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is |
| recognised on the provision of services on a percentage degree of completion basis calculated by reference to the |
| time expended compared to the anticipated time. |
| Tangible fixed assets |
| The cost of tangible fixed assets includes only expenditure directly incurred in bringing the assets into working |
| condition for their intended use. Both the cost of replacing major components and the cost of major inspections |
| are capitalised. Borrowing costs are not capitalised. Depreciation is provided at the following annual rates in |
| order to allocate the depreciable amount of each asset over its estimated useful life. |
| Plant and machinery - 25% on cost |
| Fixtures and fittings - 25% on cost |
| Computer equipment - 25% on cost |
| Assets held under finance leases are depreciated in the same way as owned assets. |
| At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine |
| whether there is any indication that any items have sufferer an impairment loss. If any such indication exists, the |
| recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any. |
| Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable |
| amount of the cash-generating unit to which the asset belongs. |
| Financial instruments |
| The Company only enters into basic financial instruments transactions that result in the recognition of financial |
| assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to |
| related parties and investments in non-puttable ordinary shares. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and |
| Retained Earnings, 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. |
| Lancroft Limited (Registered number: 05942387) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 28 February 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| Debtors |
| Short term debtors are measured at transaction price less any impairment. |
| Creditors |
| Short term creditors are measured at the transaction price. |
| Provisions |
| Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the |
| balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where |
| material, provisions are calculated on a discounted basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Lancroft Limited (Registered number: 05942387) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 28 February 2019 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 March 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 28 February 2019 |
| DEPRECIATION |
| At 1 March 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 28 February 2019 |
| NET BOOK VALUE |
| At 28 February 2019 |
| At 28 February 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.19 | 28.2.18 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.19 | 28.2.18 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 28.2.19 | 28.2.18 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |