Intalite Lancs Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01643918 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

INTALITE LANCS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S Forsyth

Mr M Forsyth

SECRETARY:

Mr S Forsyth

REGISTERED OFFICE:

61, Clifton Street

Lytham

Lytham St Annes

Lancashire

FY8 5ER

REGISTERED NUMBER:

01643918 (England and Wales)

ACCOUNTANT:

LATHAM LEES LIMITED

Chartered Accountant

10, Park Street

Lytham

Lancashire

FY8 5LU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

7,239

7,886

7,239

7,886

CURRENT ASSETS

Stocks

275,153

251,952

Debtors

6

1,951

2,756

Cash at bank

26,888

33,760

303,992

288,468

CREDITORS

Amounts falling due within one year

7

102,248

77,648

NET CURRENT ASSETS

201,744

210,820

TOTAL ASSETS LESS CURRENT LIABILITIES

208,983

218,706

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

208,683

218,406

SHAREHOLDERS' FUNDS

208,983

218,706

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 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 16 December 2019 and were signed on its behalf by:

Mr S Forsyth - Director

1.	STATUTORY INFORMATION

Intalite Lancs 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

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 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 16 (2018 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

140,000

AMORTISATION

At 1 April 2018

and 31 March 2019

140,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2018

46,302

Additions

1,163

At 31 March 2019

47,465

DEPRECIATION

At 1 April 2018

38,416

Charge for year

1,810

At 31 March 2019

40,226

NET BOOK VALUE

At 31 March 2019

7,239

At 31 March 2018

7,886

6.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Other debtors

1,951

2,756

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

25,744

36,014

Social security and other taxes

8,007

10,206

Directors' loan accounts

62,164

25,378

Other Creditors And Accruals

6,333

6,050

102,248

77,648