Lynfield Leasing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05699776 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Lynfield Leasing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G R Fearnley

R L Howells

SECRETARY:

G R Fearnley

REGISTERED OFFICE:

The Larches

Middle Warberry Road

Torquay

Devon

TQ1 1RP

REGISTERED NUMBER:

05699776 (England and Wales)

ACCOUNTANTS:

Johnston Wood Roach Limited

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

FIXED ASSETS

Tangible assets

4

37,152

46,441

CURRENT ASSETS

Debtors

5

112,362

112,362

Cash at bank

91

182

112,453

112,544

CREDITORS

Amounts falling due within one year

6

450

451

NET CURRENT ASSETS

112,003

112,093

TOTAL ASSETS LESS CURRENT LIABILITIES

149,155

158,534

CREDITORS

Amounts falling due after more than one year

7

718,790

718,250

NET LIABILITIES

(569,635

)

(559,716

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

(569,735

)

(559,816

)

SHAREHOLDERS' FUNDS

(569,635

)

(559,716

)

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 20 December 2019 and were signed on its behalf by:

G R Fearnley - Director

1.	STATUTORY INFORMATION

Lynfield Leasing 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

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

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 NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2018

and 31 March 2019

50,753

DEPRECIATION

At 1 April 2018

4,312

Charge for year

9,289

At 31 March 2019

13,601

NET BOOK VALUE

At 31 March 2019

37,152

At 31 March 2018

46,441

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Other debtors

112,362

112,362

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

-

1

Other creditors

450

450

450

451

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Other creditors

718,790

718,250

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 April 2018

(559,816

)

Deficit for the year

(9,919

)

At 31 March 2019

(569,735

)

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

as at the balance sheet date, the company owed £718,790 (2018: £718,250) to the directors.

11.	ULTIMATE CONTROLLING PARTY

Neither Director/Shareholder has ultimate control.