LONTRA LIMITED

LONTRA LIMITED

LONTRA LIMITED - Company Information

Print Friendly Version

LONTRA LIMITED

Company Registration Number:
05063449 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2019

Period of accounts

Start date: 01 July 2018

End date: 30 June 2019

LONTRA LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2019

Balance sheet
Notes

LONTRA LIMITED

Balance sheet

As at 30 June 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 13,856 38,195
Total fixed assets: 13,856 38,195
Current assets
Debtors: 4 457,728 872,090
Cash at bank and in hand: 459,731 455,741
Total current assets: 917,459 1,327,831
Creditors: amounts falling due within one year: 5 (334,569) (304,292)
Net current assets (liabilities): 582,890 1,023,539
Total assets less current liabilities: 596,746 1,061,734
Creditors: amounts falling due after more than one year: 6 (2,272,741) (2,256,928)
Total net assets (liabilities): (1,675,995) (1,195,194)
Capital and reserves
Called up share capital: 4,260 3,969
Share premium account: 7,290,061 6,316,453
Profit and loss account: (8,970,316) (7,515,616)
Shareholders funds: (1,675,995) (1,195,194)

The notes form part of these financial statements

LONTRA LIMITED

Balance sheet statements

For the year ending 30 June 2019 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 November 2019
and signed on behalf of the board by:

Name: S Lindsey
Status: Director

The notes form part of these financial statements

LONTRA LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents grants received and royalties receivable, excluding value added tax.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:Leasehold improvements - over the life of the leaseComputer equipment - over two yearsWorkshop equipment - over two yearsOffice equipment - over two years

Other accounting policies

Basis of preparation of the accountsThe company made a loss of £1,454,700 and at the year end had current assets of £582,890. Since the year end, the company has raised new share capital of £1,000,184. The directors consider that the company has access to adequate funding to enable it to continue in operational existence for a period of at least twelve months from the date of approval of these financial statements. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. Patents and Research & DevelopmentResearch expenditure including development and patent costs are written off to the profit and loss account in the year they are incurred.Deferred taxDeferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the temporary difference can be utilised.Cost of fund raisingCosts directly related to the cost of issuing new shares are charged against the share premium account.

LONTRA LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

2. Employees

2019 2018
Average number of employees during the period 22 20

LONTRA LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

3. Tangible Assets

Total
Cost £
At 01 July 2018 457,314
Additions 7,900
At 30 June 2019 465,214
Depreciation
At 01 July 2018 419,119
Charge for year 32,239
At 30 June 2019 451,358
Net book value
At 30 June 2019 13,856
At 30 June 2018 38,195

LONTRA LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

4. Debtors

2019 2018
££
Debtors due after more than one year: 457,728 872,090

LONTRA LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

5. Creditors: amounts falling due within one year note

Creditors:Amounts falling due within one year were £334,569 (2018 - £304,292).

LONTRA LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

6. Creditors: amounts falling due after more than one year note

Creditors: Amounts falling due after one year were £2,272,741 (2018 - £2,256,928).