Lockstone Transport Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06616990 (England and Wales)

LOCKSTONE TRANSPORT LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2019

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTOR:

D Cains

SECRETARY:

J Hawkins

REGISTERED OFFICE:

Springfield House

45 Welsh Back

Bristol

BS1 4NT

BUSINESS ADDRESS:

Lockstone Villa

The Gibb

Castle Combe

Chippenham

Wiltshire

SN14 7LJ

REGISTERED NUMBER:

06616990 (England and Wales)

ACCOUNTANTS:

Haines Watts Worcester Limited

Chartered Accountants

Suite 1A

Shire Business Park

Wainwright Road

Worcester

WR4 9FA

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements

and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Lockstone Transport Limited for the year ended 31 March 2019 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Lockstone Transport Limited in accordance with the terms of our engagement letter dated 11 June 2008. Our work has been undertaken solely to prepare for your approval the financial statements of Lockstone Transport Limited and state those matters that we have agreed to state to the director of Lockstone Transport Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lockstone Transport Limited and its director for our work or for this report.

It is your duty to ensure that Lockstone Transport Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lockstone Transport Limited. You consider that Lockstone Transport Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lockstone Transport Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts Worcester Limited

Chartered Accountants

Suite 1A

Shire Business Park

Wainwright Road

Worcester

WR4 9FA

12 December 2019

FIXED ASSETS

Tangible assets

4

20,360

29,011

CURRENT ASSETS

Debtors

5

41,177

48,934

Cash in hand

125

125

41,302

49,059

CREDITORS

Amounts falling due within one year

6

223,320

221,020

NET CURRENT LIABILITIES

(182,018

)

(171,961

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(161,658

)

(142,950

)

CREDITORS

Amounts falling due after more than one year

7

(7,057

)

(11,182

)

PROVISIONS FOR LIABILITIES

(243

)

(907

)

NET LIABILITIES

(168,958

)

(155,039

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(168,959

)

(155,040

)

SHAREHOLDERS' FUNDS

(168,958

)

(155,039

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 12 December 2019 and were signed by:

D Cains - Director

1.	STATUTORY INFORMATION

Lockstone Transport 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.

The director considers that the accounts should be prepared on the going concern basis as the majority

shareholder has indicated that he fully intends to support the company financially until it is able to be

self-funding.

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.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2018

50,250

48,350

1,263

99,863

Disposals

-

(33,000

)

-

(33,000

)

At 31 March 2019

50,250

15,350

1,263

66,863

DEPRECIATION

At 1 April 2018

27,636

42,158

1,058

70,852

Charge for year

4,523

721

103

5,347

Eliminated on disposal

-

(29,696

)

-

(29,696

)

At 31 March 2019

32,159

13,183

1,161

46,503

NET BOOK VALUE

At 31 March 2019

18,091

2,167

102

20,360

At 31 March 2018

22,614

6,192

205

29,011

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

2,898

5,822

Other debtors

6,449

6,449

Directors' current accounts

11,393

19,847

VAT

16,249

13,222

Prepayments

4,188

3,594

41,177

48,934

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

6,232

5,200

Hire purchase contracts

4,500

4,500

Trade creditors

17,889

23,118

Amounts owed to associates

42,071

40,160

Tax

6,971

6,762

Social security and other taxes

10,049

7,842

Other creditors

133,133

131,463

Accrued expenses

2,475

1,975

223,320

221,020

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

7,057

11,182

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within debtors is £11,393 (2018: £19,846) due from a director. There are no set repayment terms.