Landcore Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07902681 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

FOR

LANDCORE LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs A Deutsch

Y Deutsch

B Hoffman

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

07902681 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

15,946

15,221

CURRENT ASSETS

Stocks

5

35,000

95,750

Debtors

6

2,621,148

2,974,453

2,656,148

3,070,203

CREDITORS

Amounts falling due within one year

7

1,310,843

1,743,737

NET CURRENT ASSETS

1,345,305

1,326,466

TOTAL ASSETS LESS CURRENT LIABILITIES

1,361,251

1,341,687

CAPITAL AND RESERVES

Called up share capital

8

6

6

Retained earnings

9

1,361,245

1,341,681

SHAREHOLDERS' FUNDS

1,361,251

1,341,687

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 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 and authorised for issue on 17 April 2020 and were signed on its behalf by:

Y Deutsch - Director

1.	STATUTORY INFORMATION

Landcore 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.

Improvements to property

-

25% on reducing balance

Plant and machinery

-

33% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 57 (2018 - 60 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 June 2018

10,854

1,179

15,198

Additions

-

-

4,651

At 31 May 2019

10,854

1,179

19,849

DEPRECIATION

At 1 June 2018

6,275

1,179

7,264

Charge for year

1,145

-

1,888

At 31 May 2019

7,420

1,179

9,152

NET BOOK VALUE

At 31 May 2019

3,434

-

10,697

At 31 May 2018

4,579

-

7,934

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 June 2018

13,730

4,042

45,003

Additions

-

-

4,651

At 31 May 2019

13,730

4,042

49,654

DEPRECIATION

At 1 June 2018

13,730

1,334

29,782

Charge for year

-

893

3,926

At 31 May 2019

13,730

2,227

33,708

NET BOOK VALUE

At 31 May 2019

-

1,815

15,946

At 31 May 2018

-

2,708

15,221

5.

STOCKS

31.5.19

31.5.18

£

£

Work-in-progress

35,000

95,750

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

608,214

726,172

Other debtors

2,012,934

2,248,281

2,621,148

2,974,453

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Bank loans and overdrafts

57,807

65,071

Trade creditors

135,897

396,662

Tax

158,313

213,140

Social security and other taxes

17,998

5,113

Pensions

-

1,745

VAT

-

2,273

Other creditors

696,549

414,978

Loan creditors

230,749

232,287

Accruals and deferred income

-

404,268

Accrued expenses

13,530

8,200

1,310,843

1,743,737

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.19

31.5.18

value:

£

£

3

Ordinary 'A'

£1

3

3

3

Ordinary 'B'

£1

3

3

6

6

9.

RESERVES

Retained

earnings

£

At 1 June 2018

1,341,681

Profit for the year

27,064

Dividends

(7,500

)

At 31 May 2019

1,361,245