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

REGISTERED NUMBER: 08326756 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

LOMBUCKET LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss H Rutherford

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

REGISTERED NUMBER:

08326756 (England and Wales)

FIXED ASSETS

Tangible assets

4

819

1,673

CURRENT ASSETS

Debtors

5

6,223

12,753

Cash at bank

2,308

4,266

8,531

17,019

CREDITORS

Amounts falling due within one year

6

(7,612

)

(4,987

)

NET CURRENT ASSETS

919

12,032

TOTAL ASSETS LESS CURRENT LIABILITIES

1,738

13,705

PROVISIONS FOR LIABILITIES

7

(156

)

(318

)

NET ASSETS

1,582

13,387

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

1,482

13,287

SHAREHOLDERS' FUNDS

1,582

13,387

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 her 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 and authorised for issue on 13 July 2020 and were signed by:

Miss H Rutherford - Director

1.	STATUTORY INFORMATION

Lombucket 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates and these

estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are

recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the

revision and future periods if the revision affects both current and future periods.

The items in the financial statements where these judgements and estimates have been made include the useful

economic life of tangible fixed assets, the depreciation of these assets and provisions.

Turnover

Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts.

Revenue from the sale of services is recognised at the point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

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.

Impairment policy

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any

indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of

an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to

estimate the recoverable amount of an asset, the company estimates the recoverable amount of the cash-generating

unit to which the asset belongs.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in existence for the

foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial

statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2019

and 31 March 2020

13,611

DEPRECIATION

At 1 April 2019

11,938

Charge for year

854

At 31 March 2020

12,792

NET BOOK VALUE

At 31 March 2020

819

At 31 March 2019

1,673

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

6,223

12,753

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

5,784

4,029

Other creditors

1,828

958

7,612

4,987

7.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

156

318

Deferred

tax

£

Balance at 1 April 2019

318

Movement in year

(162

)

Balance at 31 March 2020

156

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

1

100

100

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and

31 March 2019:

2020

2019

£

£

Miss H Rutherford

Balance outstanding at start of year

7,474

5,586

Amounts advanced

8,133

4,724

Amounts repaid

(16,334

)

(2,836

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(727

)

7,474