Longthorp (Kilpin) Limited Filleted accounts for Companies House (small and micro)
Longthorp (Kilpin) Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
00547353
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For the year ended |
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Statement of Financial Position |
2019 |
2018 |
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Note |
£ |
£ |
£ |
£ |
Fixed assets
Intangible assets |
5 |
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Tangible assets |
6 |
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Investments |
7 |
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Current assets
Stocks |
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Debtors |
8 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
9 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
10 |
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Provisions
Taxation including deferred tax |
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Net assets |
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Capital and reserves
Called up share capital |
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Capital redemption reserve |
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Non-distributable reserves |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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Statement of Financial Position (continued) |
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
3 January 2020
, and are signed on behalf of the board by:
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Director |
Company registration number:
00547353
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Notes to the Financial Statements |
Year ended 5 April 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Burland, Holme Road, Howden, Goole, East Yorkshire, DN147LY.
2.
Statement of compliance
3.
Accounting policies
(a)
Basis of preparation
(b)
Revenue recognition
(c)
Current & deferred tax
(d)
Intangible assets
(e)
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Farmland tenancy2% straight line
(f)
Tangible assets
(g)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Buildings and property improvements |
- |
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Plant & Machinery |
- |
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Freehold land is not depreciated.
(h)
Investment property
(i)
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
(j)
Impairment of fixed assets
(k)
Stocks
(l)
Finance leases and hire purchase contracts
(m)
Provisions
(n)
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
(o)
Financial instruments
(p)
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
19
(2018:
24
).
5.
Intangible assets
Farmland tenancy |
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£ |
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Cost |
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At 6 April 2018 and 5 April 2019 |
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Amortisation |
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At 6 April 2018 and 5 April 2019 |
– |
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Carrying amount |
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At 5 April 2019 |
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At 5 April 2018 |
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6.
Tangible assets
Freehold property |
Plant and machinery |
Total |
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£ |
£ |
£ |
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Cost |
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At 6 April 2018 |
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Additions |
– |
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Disposals |
(
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(
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(
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At 5 April 2019 |
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Depreciation |
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At 6 April 2018 |
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Charge for the year |
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Disposals |
– |
(
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(
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At 5 April 2019 |
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Carrying amount |
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At 5 April 2019 |
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At 5 April 2018 |
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7.
Investments
Trade investments |
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£ |
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Cost |
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At 6 April 2018 and 5 April 2019 |
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Impairment |
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At 6 April 2018 and 5 April 2019 |
– |
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Carrying amount |
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At 5 April 2019 |
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At 5 April 2018 |
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8.
Debtors
2019 |
2018 |
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£ |
£ |
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Trade debtors |
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Corporation tax repayable |
– |
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Other loans |
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Other debtors |
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9.
Creditors:
amounts falling due within one year
2019 |
2018 |
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£ |
£ |
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Bank loans |
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Trade creditors |
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Corporation tax |
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– |
Social security and other taxes |
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Obligations under finance leases and hire purchase contracts |
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Director loan accounts |
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Loan from company's self-administered pension fund |
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Other loans |
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Other creditors |
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The bank borrowings are secured by a fixed and floating charge over the assets of the company.
The hire purchase liabilities are secured on the associated asset.
The loan from the company's self-administered pension fund is secured on land and buildings.
10.
Creditors:
amounts falling due after more than one year
2019 |
2018 |
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£ |
£ |
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Bank loans |
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Obligations under finance leases and hire purchase contracts |
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Loan from company's self-administered pension fund |
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Directors loan accounts |
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The bank borrowings are secured by a fixed and floating charge over the assets of the company.
The bank loan outstanding at the year end includes instalments due after more than five years of £112,394 (2018 - £124,792)
The hire purchase liabilities are secured on the associated asset.
The loan from the company's self-administered pension fund is secured on land and buildings.
11.
Related party transactions
During the year, the
directors
made loans to the company
. Interest is charged on the loans at a commercial rate. £650,000 of the loan is repayable after more than one year from the balance sheet date (2018 - £650,000). At the year end date, the balance due to the directors totalled £ 881,886
(2018 - £855,649).