Robert Langley Asset Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05953646 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

ROBERT LANGLEY ASSET MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs A Frost

SECRETARY:

Ms G V Gill

REGISTERED OFFICE:

Unit 8, Oak Spinney Park

Ratby Lane

Leicester Forest East

Leicester

Leicestershire

LE3 3AW

REGISTERED NUMBER:

05953646 (England and Wales)

ACCOUNTANTS:

SFB Group Limited

Chartered Accountants

Unit 8 Oak Spinney Park

Ratby Lane

Leicester Forest East

Leicester

LE3 3AW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,212

6,846

6,212

6,846

CURRENT ASSETS

Debtors

6

78,184

65,797

Cash at bank and in hand

287,035

276,382

365,219

342,179

CREDITORS

Amounts falling due within one year

7

37,258

36,335

NET CURRENT ASSETS

327,961

305,844

TOTAL ASSETS LESS CURRENT LIABILITIES

334,173

312,690

PROVISIONS FOR LIABILITIES

1,091

1,192

NET ASSETS

333,082

311,498

CAPITAL AND RESERVES

Called up share capital

200,001

200,001

Retained earnings

133,081

111,497

SHAREHOLDERS' FUNDS

333,082

311,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 3 February 2020 and were signed by:

Mrs A Frost - Director

1.	STATUTORY INFORMATION

Robert Langley Asset Management 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

Intangible assets including goodwill are stated at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is calculated, using the straight line method, to allocate the depreciable amount of the assets to their residual

values over their estimated useful life of 10 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

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition

necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using

either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures and fittings

25% per annum on net book amount

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate,

or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in

profit or loss.

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.

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future

receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective

interest method, less any impairment.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such

instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 4 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

190,000

AMORTISATION

At 1 January 2019

and 31 December 2019

190,000

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2019

31,172

Additions

1,440

At 31 December 2019

32,612

DEPRECIATION

At 1 January 2019

24,326

Charge for year

2,074

At 31 December 2019

26,400

NET BOOK VALUE

At 31 December 2019

6,212

At 31 December 2018

6,846

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

30,662

18,275

Other debtors

47,522

47,522

78,184

65,797

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

6,599

6,532

Taxation and social security

27,671

25,077

Other creditors

2,988

4,726

37,258

36,335

8.	OTHER FINANCIAL COMMITMENTS

At 31 December 2018, the company was committed to making payments of £8,820 (2017: £8,820) under non-cancellable

operating leases in the year to 31 December 2019.

9.	RELATED PARTY DISCLOSURES

During the year the company paid £72,000 (2018 - £72,000) in management charges to its parent undertaking, Angus Asset

Management Limited.

Included in other debtors at 31 December 2019 is £46,522 (2018 - £46,522) owed to the company by Angus Asset

Management Limited.

All transactions were made on a commercial basis.

Included in other creditors is £2,053 (2018 - £2,021) owed to Mrs A Frost, director. This loan is interest free and repayable

on demand.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs A Frost.

The ultimate controlling party is Mrs A Frost, a director of the company and sole shareholder of the parent undertaking,

Angus Asset Management Limited.