Logbook Lending Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07409180 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

LOGBOOK LENDING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr Andrew Lazarus

REGISTERED OFFICE:

34a Watling Street

Radlett

Hertfordshire

WD7 7NN

REGISTERED NUMBER:

07409180 (England and Wales)

ACCOUNTANTS:

Daniel Wolfson & Co Ltd

Chartered Accountants

34a Watling Street

Radlett

Hertfordshire

WD7 7NN

FIXED ASSETS

Property, plant and equipment

4

501

-

CURRENT ASSETS

Debtors

5

31,094

92,662

Cash at bank

1,379

8,575

32,473

101,237

CREDITORS

Amounts falling due within one year

6

100,478

98,103

NET CURRENT (LIABILITIES)/ASSETS

(68,005

)

3,134

TOTAL ASSETS LESS CURRENT LIABILITIES

(67,504

)

3,134

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

(67,604

)

3,034

SHAREHOLDERS' FUNDS

(67,504

)

3,134

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 June 2020 and were signed by:

Mr Andrew Lazarus - Director

1.	STATUTORY INFORMATION

Logbook Lending Limited 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 interest earned from loans and the sale of repossessed vehicles held as security. Interest income is

recognised in the period in which it is earned. Proceeds from the sale of vehicles are recognised when the title has passed.

Tangible fixed assets

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

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.

Going concern

These accounts have been prepared on a going concern basis, given the continued support of the director.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Computer

equipment

£

COST

Additions

752

At 31 December 2019

752

DEPRECIATION

Charge for year

251

At 31 December 2019

251

NET BOOK VALUE

At 31 December 2019

501

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

19,419

60,168

Amounts owed by participating interests

-

10,538

Other debtors

11,675

21,956

31,094

92,662

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

3,090

277

Amounts owed to participating interests

17,762

-

Social security and other taxes

533

563

Other creditors

59,387

62,667

Director's current account

66

800

Accruals and deferred income

19,640

33,796

100,478

98,103

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£ 1

100

100

8.

RESERVES

Retained

earnings

£

At 1 January 2019

3,034

Deficit for the year

(70,638

)

At 31 December 2019

(67,604

)

9.	RELATED PARTY DISCLOSURES

At the year end, £17,762 was owed to the parent company (2018: £10,538 was owed from the parent company), AF

Premier Limited.

Other creditors include a balance of £4,273 (2018: £7,595) payable to the director, A Lazarus, and a balance of £55,000

(2018: £55,000) payable to JTJ Properties Limited, an associate company in which A Lazarus, is also a director and 50%

shareholder.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is AF Premier Limited, a company incorporated in the UK, by virtue of its 100% shareholding.