Lanco Services Bristol Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08397971 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

LANCO SERVICES BRISTOL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R P O'Sullivan

REGISTERED OFFICE:

153 West Town Lance

Bristol

BS14 9EA

REGISTERED NUMBER:

08397971 (England and Wales)

CURRENT ASSETS

Debtors

5

173

2,784

Cash at bank

1,584

2,423

1,757

5,207

CREDITORS

Amounts falling due within one year

6

1,755

3,586

NET CURRENT ASSETS

2

1,621

TOTAL ASSETS LESS CURRENT LIABILITIES

2

1,621

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1

1,620

2

1,621

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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the director on 27 December 2019 and were signed by:

R P O'Sullivan - Director

1.	COMPANY INFORMATION

Lanco Services Bristol 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 the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting

policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company

has adequate resources to continue in operational existence for the foreseeable future. Thus the directors

continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts

receivable for services provided in the normal course of business, net of discounts, VAT and other sales related

taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are

recognised when the company becomes party to the contractual provisions of the instrument. Financial assets

and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash

and bank balances, are initially measured at transaction price including transaction costs and are subsequently

carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows

from the asset expire or are settled, or when the company transfers the financial asset and substantially all the

risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are

retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an

unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are

initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the

debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial

liabilities are derecognised when, and only when, the company's contractual obligations are discharged,

cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account,

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 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2018

and 31 March 2019

1,307

DEPRECIATION

At 1 April 2018

and 31 March 2019

1,307

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

-

2,784

Directors' current accounts

173

-

173

2,784

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Tax

1,755

2,890

Directors' current accounts

-

696

1,755

3,586

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and

31 March 2018:

31.3.19

31.3.18

£

£

R P O'Sullivan

Balance outstanding at start of year

(696

)

(1,455

)

Amounts advanced

15,929

23,372

Amounts repaid

(15,060

)

(22,613

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

173

(696

)