John Lancaster Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06501318 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

John Lancaster Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Lancaster

Miss J A Clayton

SECRETARY:

Miss J A Clayton

REGISTERED OFFICE:

International House

6 Market Street

Oakengates

Telford

Shropshire

TF2 6EF

REGISTERED NUMBER:

06501318 (England and Wales)

ACCOUNTANTS:

Tranter Lowe (Oakengates) Limited

Chartered Accountants

International House

6 Market Street

Oakengates

Telford

Shropshire

TF2 6EF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,502

1,737

1,502

1,737

CURRENT ASSETS

Stocks

600

800

Debtors

6

464

603

Cash at bank

3,314

3,600

4,378

5,003

CREDITORS

Amounts falling due within one year

7

5,663

6,495

NET CURRENT LIABILITIES

(1,285

)

(1,492

)

TOTAL ASSETS LESS CURRENT LIABILITIES

217

245

PROVISIONS FOR LIABILITIES

208

236

NET ASSETS

9

9

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

7

7

SHAREHOLDERS' FUNDS

9

9

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 of Part 15 of the Companies Act 2006 relating to small companies.

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 13 December 2019 and were signed on its behalf by:

J Lancaster - Director

1.	STATUTORY INFORMATION

John Lancaster Ltd 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.

Tools & equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

50% 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.

Going concern

As at 31st March 2019, the company has net current liabilities of £1,285. The directors have confirmed in writing

that they will continue to provide financial support to the company for the foreseeable future to enable it to

continue as a going concern.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

35,000

AMORTISATION

At 1 April 2018

and 31 March 2019

35,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Tools &

Motor

Computer

equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2018

2,599

7,500

249

10,348

Additions

140

-

118

258

At 31 March 2019

2,739

7,500

367

10,606

DEPRECIATION

At 1 April 2018

2,013

6,354

244

8,611

Charge for year

145

286

62

493

At 31 March 2019

2,158

6,640

306

9,104

NET BOOK VALUE

At 31 March 2019

581

860

61

1,502

At 31 March 2018

586

1,146

5

1,737

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Prepayments

464

603

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

16

15

Tax

3,143

3,654

Social security and other taxes

-

45

Directors' current accounts

1,140

1,417

Accrued expenses

1,364

1,364

5,663

6,495

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

The difference between the Profit and Loss Account Reserves brought forward and carried forward is the result

of the profit for the year and dividends.