LINGUASSIST LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09276415 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2019

for

LINGUASSIST LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

G N Paton

H N Paton

REGISTERED OFFICE:

The Malthouse

Regent Street

Llangollen

Denbighshire

LL20 8HS

REGISTERED NUMBER:

09276415 (England and Wales)

ACCOUNTANTS:

LBW Chartered Accountants

Enterprise House

The Courtyard

Old Courthouse Road

Bromborough

Merseyside

CH62 4UE

FIXED ASSETS

Intangible assets

4

1

76,247

Tangible assets

5

798

2,089

799

78,336

CURRENT ASSETS

Debtors

6

201,949

180,286

Investments

7

137,037

-

Cash at bank

53,122

248,455

392,108

428,741

CREDITORS

Amounts falling due within one year

8

125,517

172,993

NET CURRENT ASSETS

266,591

255,748

TOTAL ASSETS LESS CURRENT LIABILITIES

267,390

334,084

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

267,290

333,984

SHAREHOLDERS' FUNDS

267,390

334,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 27 February 2020 and were signed on its behalf by:

G N Paton - Director

1.	STATUTORY INFORMATION

LINGUASSIST 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 represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

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.

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

-

33% on cost and 25% on reducing balance

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 6 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2018

and 31 October 2019

381,228

AMORTISATION

At 1 November 2018

304,981

Charge for year

76,246

At 31 October 2019

381,227

NET BOOK VALUE

At 31 October 2019

1

At 31 October 2018

76,247

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2018

and 31 October 2019

7,599

DEPRECIATION

At 1 November 2018

5,510

Charge for year

1,291

At 31 October 2019

6,801

NET BOOK VALUE

At 31 October 2019

798

At 31 October 2018

2,089

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade debtors

100,046

97,438

Other debtors

101,903

82,848

201,949

180,286

7.	CURRENT ASSET INVESTMENTS

31.10.19

31.10.18

£

£

Other investment

137,037

-

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade creditors

43,712

54,310

Taxation and social security

80,078

117,286

Other creditors

1,727

1,397

125,517

172,993

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.19

31.10.18

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 November 2018

333,984

Profit for the year

73,306

Dividends

(140,000

)

At 31 October 2019

267,290

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors is an amount of £101,904 (2018: £82,848) relating to Mr G Paton's directors

loan account.

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £140,000 (2018 - £140,000) were paid to the directors .

13.	ULTIMATE CONTROLLING PARTY

The controlling party is G N Paton.

14.	INVESTMENT ASSET

The value of the investment as at 31 October 2019 was £133,497.

The following reproduces the text of the report prepared for the directors 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 Directors 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 LINGUASSIST LTD for the year ended 31 October 2019 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 Board of Directors of LINGUASSIST LTD, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LINGUASSIST LTD and state those matters that we have agreed to state to the Board of Directors of LINGUASSIST LTD, as a body, 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 LINGUASSIST LTD and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that LINGUASSIST LTD 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 LINGUASSIST LTD. You consider that LINGUASSIST LTD 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 LINGUASSIST LTD. 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.

LBW Chartered Accountants

Enterprise House

The Courtyard

Old Courthouse Road

Bromborough

Merseyside

CH62 4UE

Date: .............................................