Lothbury Computers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02731376 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2019

for

Lothbury Computers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Gunn

A E Gunn

SECRETARY:

A E Gunn

REGISTERED OFFICE:

39 Parkside Drive

Watford

Hertfordshire

WD17 3AS

REGISTERED NUMBER:

02731376 (England and Wales)

ACCOUNTANTS:

Guilfoyle Sage LLP

21 Gold Tops

Newport

South Wales

NP20 4PG

CURRENT ASSETS

Debtors

5

11,200

392

Investments

6

28,699

38,021

Cash at bank

584,582

515,020

624,481

553,433

CREDITORS

Amounts falling due within one year

7

18,360

12,587

NET CURRENT ASSETS

606,121

540,846

TOTAL ASSETS LESS CURRENT LIABILITIES

606,121

540,846

PROVISIONS FOR LIABILITIES

8

1,594

3,365

NET ASSETS

604,527

537,481

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

9

604,427

537,381

SHAREHOLDERS' FUNDS

604,527

537,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 25 March 2020 and were signed on its behalf by:

A J Gunn - Director

A E Gunn - Director

1.	STATUTORY INFORMATION

Lothbury Computers 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 (£).

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 and revenue recognition

Turnover represents invoiced sales of services excluding Value Added Tax.

Revenue is recognised in the period in which it is earned.

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 etc

-

25% on cost

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.

Current asset investments

Investments in listed companies are stated at fair value. The gain or loss on this revaluation is shown in

the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2018

and 30 June 2019

2,922

DEPRECIATION

At 1 July 2018

and 30 June 2019

2,922

NET BOOK VALUE

At 30 June 2019

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade debtors

8,100

-

Directors' current accounts

3,100

-

Prepayments and accrued income

-

392

11,200

392

6.	CURRENT ASSET INVESTMENTS

30.6.19

30.6.18

£

£

Listed investments

28,699

38,021

Market value of listed investments at 30 June 2019 - £ 28,699 (2018 - £ 38,021 ).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Tax

12,205

-

Social security and other taxes

6

5

VAT

5,038

1,512

Directors' current accounts

-

9,984

Accrued expenses

1,111

1,086

18,360

12,587

8.	PROVISIONS FOR LIABILITIES

30.6.19

30.6.18

£

£

Deferred tax

1,594

3,365

Deferred

tax

£

Balance at 1 July 2018

3,365

Credit to Income Statement during year

(1,771

)

Balance at 30 June 2019

1,594

9.

RESERVES

Retained

earnings

£

At 1 July 2018

537,381

Profit for the year

71,046

Dividends

(4,000

)

At 30 June 2019

604,427

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £4,000 (2018 - £10,000) were paid to the directors .

At the year end the directors owed the company £3,100 (2018: the company owed the directors £9,984).