LCS Lincs Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09037901 (England and Wales)

LCS Lincs Ltd

Unaudited Financial Statements for the Year Ended 31 May 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTOR:

Mrs L Gaskin

REGISTERED OFFICE:

32 The Crescent

Spalding

Lincolnshire

PE11 1AF

REGISTERED NUMBER:

09037901 (England and Wales)

ACCOUNTANTS:

Salway and Wright

Chartered Accountants

32 The Crescent

Spalding

Lincolnshire

PE11 1AF

FIXED ASSETS

Tangible assets

4

27,860

15,046

CURRENT ASSETS

Debtors

5

8,051

-

Cash at bank

48,651

73,369

56,702

73,369

CREDITORS

Amounts falling due within one year

6

34,768

23,355

NET CURRENT ASSETS

21,934

50,014

TOTAL ASSETS LESS CURRENT LIABILITIES

49,794

65,060

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

49,791

65,057

SHAREHOLDERS' FUNDS

49,794

65,060

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 22 February 2020 and were signed by:

Mrs L Gaskin - Director

1.	STATUTORY INFORMATION

LCS Lincs 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.

Tangible fixed assets

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

Equipment

-

25% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 6 ).

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 June 2018

21,311

Additions

22,100

At 31 May 2019

43,411

DEPRECIATION

At 1 June 2018

6,265

Charge for year

9,286

At 31 May 2019

15,551

NET BOOK VALUE

At 31 May 2019

27,860

At 31 May 2018

15,046

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

7,816

-

Other debtors

235

-

8,051

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade creditors

16,781

3,025

Taxation and social security

15,987

18,743

Other creditors

2,000

1,587

34,768

23,355