Lineside Maintenance Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03406180 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

Lineside Maintenance Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Chamberlain

J A Hogg

SECRETARY:

G Chamberlain

REGISTERED OFFICE:

37-38 Market Street

Ferryhill

Co. Durham

DL17 8JH

REGISTERED NUMBER:

03406180 (England and Wales)

ACCOUNTANTS:

Little & Neal

37-38 Market Street

Ferryhill

Co. Durham

DL17 8JH

FIXED ASSETS

Tangible assets

4

184,191

191,071

Investments

5

106,750

115,000

290,941

306,071

CURRENT ASSETS

Debtors

6

79,014

69,777

Cash at bank

6,155

70,365

85,169

140,142

CREDITORS

Amounts falling due within one year

7

16,002

46,955

NET CURRENT ASSETS

69,167

93,187

TOTAL ASSETS LESS CURRENT LIABILITIES

360,108

399,258

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

360,106

399,256

SHAREHOLDERS' FUNDS

360,108

399,258

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 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 and authorised for issue on 9 October 2020 and were signed on its behalf by:

J A Hogg - Director

1.	STATUTORY INFORMATION

Lineside Maintenance Company 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2019

and 31 December 2019

163,500

176,633

340,133

DEPRECIATION

At 1 January 2019

-

149,062

149,062

Charge for year

-

6,880

6,880

At 31 December 2019

-

155,942

155,942

NET BOOK VALUE

At 31 December 2019

163,500

20,691

184,191

At 31 December 2018

163,500

27,571

191,071

5.	FIXED ASSET INVESTMENTS

31.12.19

31.12.18

£

£

Other investments not loans

75,000

75,000

Other loans

31,750

40,000

106,750

115,000

Additional information is as follows:

Investments (neither listed nor unlisted) were as follows:

31.12.19

31.12.18

£

£

Defined Returns Plan

75,000

75,000

Other

loans

£

At 1 January 2019

40,000

Repayment in year

(8,250

)

At 31 December 2019

31,750

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

14,220

-

Other debtors

64,794

69,777

79,014

69,777

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans and overdrafts

-

20,000

Trade creditors

-

2,782

Taxation and social security

178

8,135

Other creditors

15,824

16,038

16,002

46,955