Laxfield Capital Limited - Period Ending 2019-03-31

Registration number: 06425762

Laxfield Capital Limited

Unaudited Balance Sheet

Year Ended 31 March 2019

Laxfield Capital Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 5

Laxfield Capital Limited

Company Information

Directors

A Slater E Huepfl A Lanni

Company secretary

E Huepfl

Registered office

22 Chancery Lane London WC2A 1LS

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Laxfield Capital Limited

(Registration number: 06425762)

Balance Sheet as at 31 March 2019

	Note	2019 £	2018 £
Fixed assets
Investments	4	1	1
Current assets
Debtors	5	3,200,591	3,105,667
Cash at bank and in hand		550,834	385,479
		3,751,425	3,491,146
Creditors: Amounts falling due within one year	6	(1,973,126)	(2,184,443)
Net current assets		1,778,299	1,306,703
Net assets		1,778,300	1,306,704
Capital and reserves
Called up share capital		100	100
Profit and loss account		1,778,200	1,306,604
Total equity		1,778,300	1,306,704

For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 6 September 2019 and signed on its behalf by:
 

.........................................

A Slater

Director

The notes on pages 3 to 5 form an integral part of these financial statements.

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Laxfield Capital Limited

Notes to the Financial Statements

Year Ended 31 March 2019

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
22 Chancery Lane
London
WC2A 1LS

The principal place of business is:
9 South Street
London
W1K 2XA

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

The turnover shown in the profit and loss account represents amounts for fees raised for arranging loans which are recognised on the completion of each advance.

Tax

Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Group relief

Charges for amounts payable in respect of losses surrendered to the company or credits in respect of amounts receivable for tax losses surrendered by the company and utilised by other group companies are recognised in the period to which they relate.

Share capital

Ordinary shares are classified as equity.

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Laxfield Capital Limited

Notes to the Financial Statements

Year Ended 31 March 2019

3	Staff numbers

The average number of persons employed by the company during the year was 12 (2018 - 11).

4	Investments

	2019 £	2018 £
Other investments - Laxfield LLP	1	1

	£
Cost or valuation
At 1 April 2018 and 31 March 2019	1
Carrying amount
At 31 March 2019	1
At 31 March 2018	1

5

Debtors

	2019 £	2018 £
Amounts owed by group undertakings	2,733,571	2,703,282
Other debtors	467,020	402,385
	3,200,591	3,105,667

6

Creditors

	2019 £	2018 £
Due within one year
Trade creditors	1,542	830
Amounts owed to group undertakings	1,493,336	-
Taxation and social security	25,123	-
Other creditors	453,125	2,183,613
	1,973,126	2,184,443

Page 4

Laxfield Capital Limited

Notes to the Financial Statements

Year Ended 31 March 2019

7	Related party transactions

Summary of transactions with other related parties

During the year the company paid expenses totalling £6,000 on behalf of the shareholders. At the balance sheet date, the amount due from the shareholders was £6,000 (2018 - £nil).
 

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