Lavender Medical Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06828106 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

LAVENDER MEDICAL LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

R S Saab

SECRETARY:

S S Saab

REGISTERED OFFICE:

Unit 4 Niall House

24-26 Boulton Road

Stevenage

Hertfordshire

SG1 4QX

REGISTERED NUMBER:

06828106 (England and Wales)

ACCOUNTANTS:

Bishops

Chartered Accountants

Phoenix Park

Blakewater Road

Blackburn

Lancashire

BB1 5BG

BANKERS:

HSBC

1 Leeming Street

Mansfield

Nottinghamshire

NG18 1LU

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Director are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Lavender Medical Limited for the year ended 31 March 2020 which comprise the

Income Statement, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Lavender Medical Limited in accordance with the terms of our engagement letter dated 11 July 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Lavender Medical Limited and state those matters that we have agreed to state to the director of Lavender Medical Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lavender Medical Limited and its director for our work or for this report.

It is your duty to ensure that Lavender Medical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lavender Medical Limited. You consider that Lavender Medical Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lavender Medical Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bishops

Chartered Accountants

Phoenix Park

Blakewater Road

Blackburn

Lancashire

BB1 5BG

15 April 2020

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

139,674

112,386

139,674

112,386

CURRENT ASSETS

Inventories

1,095,047

960,091

Debtors

6

429,274

381,278

Cash at bank

19,715

6,466

1,544,036

1,347,835

CREDITORS

Amounts falling due within one year

7

465,971

399,281

NET CURRENT ASSETS

1,078,065

948,554

TOTAL ASSETS LESS CURRENT LIABILITIES

1,217,739

1,060,940

CREDITORS

Amounts falling due after more than one year

8

(1,182,868

)

(1,232,868

)

PROVISIONS FOR LIABILITIES

(9,642

)

-

NET ASSETS/(LIABILITIES)

25,229

(171,928

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

25,129

(172,028

)

SHAREHOLDERS' FUNDS

25,229

(171,928

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Income Statement has not been delivered.

The financial statements were approved by the director on 14 April 2020 and were signed by:

R S Saab - Director

1.	STATUTORY INFORMATION

Lavender Medical 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

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

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

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2019 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2019

and 31 March 2020

10,288

AMORTISATION

At 1 April 2019

and 31 March 2020

10,288

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2019

531,288

16,762

54,045

602,095

Additions

90,194

1,121

6,505

97,820

At 31 March 2020

621,482

17,883

60,550

699,915

DEPRECIATION

At 1 April 2019

433,113

9,389

47,207

489,709

Charge for year

64,433

2,752

3,347

70,532

At 31 March 2020

497,546

12,141

50,554

560,241

NET BOOK VALUE

At 31 March 2020

123,936

5,742

9,996

139,674

At 31 March 2019

98,175

7,373

6,838

112,386

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

381,946

344,144

Other debtors

47,328

37,134

429,274

381,278

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

18,615

51,136

Trade creditors

273,379

194,705

Taxation and social security

96,141

68,552

Other creditors

77,836

84,888

465,971

399,281

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

1,182,868

1,232,868

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

1,182,868

1,232,868

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank overdrafts

18,615

51,136

The bank overdraft is secured by way of a fixed and floating charge over the company's assets.