Lisa Angel Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06980420 (England and Wales)

Unaudited Financial Statements

For The Period 1st September 2018 to 31st March 2019

for

Lisa Angel Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs L A Angel

D K Dowson-coates

SECRETARY:

D K Dowson-coates

REGISTERED OFFICE:

Unit 17

Wendover Road

Rackheath Industrial Estate

Norwich

Norfolk

NR13 6LH

REGISTERED NUMBER:

06980420 (England and Wales)

ACCOUNTANTS:

Aston Shaw Ltd

The Union Building

51-59 Rose Lane

Norwich

Norfolk

NR1 1BY

FIXED ASSETS

Tangible assets

4

259,481

238,423

CURRENT ASSETS

Stocks

818,274

821,498

Debtors

5

145,140

101,910

Cash at bank

919,455

343,335

1,882,869

1,266,743

CREDITORS

Amounts falling due within one year

6

590,972

423,807

NET CURRENT ASSETS

1,291,897

842,936

TOTAL ASSETS LESS CURRENT LIABILITIES

1,551,378

1,081,359

CREDITORS

Amounts falling due after more than one year

7

(98,721

)

(74,232

)

PROVISIONS FOR LIABILITIES

(49,301

)

(45,300

)

NET ASSETS

1,403,356

961,827

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

1,403,352

961,823

SHAREHOLDERS' FUNDS

1,403,356

961,827

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 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 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 11th December 2019 and were signed on its behalf by:

D K Dowson-coates - Director

1.	STATUTORY INFORMATION

Lisa Angel 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 period 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 period 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 125 (2018 - 95 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st September 2018

265,214

26,119

61,761

83,195

436,289

Additions

59,059

-

-

6,302

65,361

At 31st March 2019

324,273

26,119

61,761

89,497

501,650

DEPRECIATION

At 1st September 2018

122,085

11,892

24,859

39,030

197,866

Charge for period

29,486

2,075

5,382

7,360

44,303

At 31st March 2019

151,571

13,967

30,241

46,390

242,169

NET BOOK VALUE

At 31st March 2019

172,702

12,152

31,520

43,107

259,481

At 31st August 2018

143,129

14,227

36,902

44,165

238,423

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st September 2018

91,614

29,000

120,614

Additions

57,165

-

57,165

At 31st March 2019

148,779

29,000

177,779

DEPRECIATION

At 1st September 2018

25,482

7,250

32,732

Charge for period

17,981

3,172

21,153

At 31st March 2019

43,463

10,422

53,885

NET BOOK VALUE

At 31st March 2019

105,316

18,578

123,894

At 31st August 2018

66,132

21,750

87,882

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/8/18

£

£

Trade debtors

26,303

75,227

Other debtors

-

1,200

Tax

30,541

-

Prepayments

88,296

25,483

145,140

101,910

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/8/18

£

£

Bank loans and overdrafts (see note 8)

21,130

26,222

Hire purchase contracts

33,712

25,795

Trade creditors

289,153

141,179

Tax

125,096

56,209

Social security and other taxes

19,548

24,339

Pension

2,650

2,660

VAT

42,663

58,469

Directors' loan accounts

46,698

85,437

Accrued expenses

10,322

3,497

590,972

423,807

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/19

31/8/18

£

£

Hire purchase contracts

98,721

74,232

8.

LOANS

An analysis of the maturity of loans is given below:

31/3/19

31/8/18

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

21,130

26,222