Lane & Peach Limited

Lane & Peach Limited

LANE & PEACH LIMITED - Company Information

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1 April 2019 false No description of principal activity Taxfiler 2020.6 10012529business:PrivateLimitedCompanyLtd2019-04-012020-03-31 100125292019-03-31 100125292019-04-012020-03-31 10012529business:AuditExemptWithAccountantsReport2019-04-012020-03-31 10012529business:FullAccounts2019-04-012020-03-31 100125292020-03-31 10012529business:Director12019-04-012020-03-31 10012529business:Director22019-04-012020-03-31 10012529business:RegisteredOffice2019-04-012020-03-31 100125292019-03-31 10012529core:WithinOneYear2020-03-31 10012529core:WithinOneYear2019-03-31 10012529core:ShareCapital2020-03-31 10012529core:ShareCapital2019-03-31 10012529core:RetainedEarningsAccumulatedLosses2020-03-31 10012529core:RetainedEarningsAccumulatedLosses2019-03-31 10012529business:SmallEntities2019-04-012020-03-31 10012529countries:EnglandWales2019-04-012020-03-31 10012529core:MotorVehicles2019-04-012020-03-31 10012529core:ComputerEquipment2019-04-012020-03-31 10012529core:Goodwill2019-03-31 10012529core:Goodwill2020-03-31 10012529core:Goodwill2019-04-012020-03-31 10012529core:MotorVehicles2019-03-31 10012529core:ComputerEquipment2019-03-31 10012529core:MotorVehicles2020-03-31 10012529core:ComputerEquipment2020-03-31 10012529business:OrdinaryShareClass12019-04-012020-03-31 10012529business:OrdinaryShareClass12018-04-012019-03-31 10012529business:Director112019-04-012020-03-31 10012529business:Director112019-03-31 10012529business:Director112020-03-31 10012529business:Director222019-04-012020-03-31 10012529business:Director222019-03-31 10012529business:Director222020-03-31 100125292018-04-012019-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 10012529 (England and Wales)
Lane & Peach Limited Unaudited accounts for the year ended 31 March 2020
Lane & Peach Limited Unaudited accounts Contents
Page
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Lane & Peach Limited Company Information for the year ended 31 March 2020
Directors
Ian Lane Glen Peach
Company Number
10012529 (England and Wales)
Registered Office
Unit 6 Barwell Lane Gosport Hampshire PO13 0EQ England
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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Lane & Peach Limited Accountants' report
Accountants' report to the board of directors of Lane & Peach Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lane & Peach Limited for the year ended 31 March 2020 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Lane & Peach Limited, as a body, in accordance with the terms of our engagement letter dated 22 May 2019. Our work has been undertaken solely to prepare for your approval the accounts of Lane & Peach Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lane & Peach Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Lane & Peach Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lane & Peach Limited. You consider that Lane & Peach 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 accounts of Lane & Peach 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 accounts.
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN 24 April 2020
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Lane & Peach Limited Statement of financial position as at 31 March 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
12,000 
16,000 
Tangible assets
5
20,221 
11,487 
32,221 
27,487 
Current assets
Debtors
6
6,600 
6,860 
Cash at bank and in hand
34,999 
11,487 
41,599 
18,347 
Creditors: amounts falling due within one year
7
(49,228)
(40,049)
Net current liabilities
(7,629)
(21,702)
Net assets
24,592 
5,785 
Capital and reserves
Called up share capital
8
102 
102 
Profit and loss account
24,490 
5,683 
Shareholders' funds
24,592 
5,785 
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 24 April 2020.
Glen Peach Director Company Registration No. 10012529
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Lane & Peach Limited Notes to the Accounts for the year ended 31 March 2020
1
Statutory information
Lane & Peach Limited is a private company, limited by shares, registered in England and Wales, registration number 10012529. The registered office is Unit 6, Barwell Lane, Gosport, Hampshire, PO13 0EQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing balance
Computer equipment
25% Reducing balance
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill - 20% Straight line
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2019
20,000 
At 31 March 2020
20,000 
Amortisation
At 1 April 2019
4,000 
Charge for the year
4,000 
At 31 March 2020
8,000 
Net book value
At 31 March 2020
12,000 
At 31 March 2019
16,000 
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Lane & Peach Limited Notes to the Accounts for the year ended 31 March 2020
5
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2019
25,845 
711 
26,556 
Additions
12,550 
1,761 
14,311 
At 31 March 2020
38,395 
2,472 
40,867 
Depreciation
At 1 April 2019
14,942 
127 
15,069 
Charge for the year
5,305 
272 
5,577 
At 31 March 2020
20,247 
399 
20,646 
Net book value
At 31 March 2020
18,148 
2,073 
20,221 
At 31 March 2019
10,903 
584 
11,487 
6
Debtors
2020 
2019 
£ 
£ 
Trade debtors
- 
260 
Accrued income and prepayments
6,600 
6,600 
6,600 
6,860 
7
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Taxes and social security
48,294 
39,163 
Accruals
934 
886 
49,228 
40,049 
8
Share capital
2020 
2019 
£ 
£ 
Allotted, called up and fully paid:
102 Ordinary shares of £1 each
102 
102 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Ian Lane
Director's Loan Account
- 
(69,540)
(69,540)
- 
Glen Peach
Director's Loan Account
- 
(69,540)
(69,540)
- 
- 
(139,080)
(139,080)
- 
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Lane & Peach Limited Notes to the Accounts for the year ended 31 March 2020
10
Average number of employees
During the year the average number of employees was 3 (2019: 3).
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