Llanion Cove Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10274793 (Wales)

Unaudited Financial Statements for the Year Ended 31st July 2019

for

Llanion Cove Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Roblin

REGISTERED OFFICE:

Llanion Cove

Cleddau Reach

Pembroke Dock

PEMBROKESHIRE

SA72 6UJ

REGISTERED NUMBER:

10274793 (Wales)

ACCOUNTANTS:

LHP

CHARTERED ACCOUNTANTS

81 Bridge Street

Lampeter

Ceredigion

SA48 7AB

FIXED ASSETS

Tangible assets

4

17,400

19,964

CURRENT ASSETS

Debtors

5

20,482

32,818

Cash at bank and in hand

183

1,901

20,665

34,719

CREDITORS

Amounts falling due within one year

6

(60,583

)

(66,056

)

NET CURRENT LIABILITIES

(39,918

)

(31,337

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(22,518

)

(11,373

)

CREDITORS

Amounts falling due after more than one year

7

-

(6,538

)

NET LIABILITIES

(22,518

)

(17,911

)

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

(22,522

)

(17,915

)

(22,518

)

(17,911

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th October 2020 and were signed by:

S Roblin - Director

1.	STATUTORY INFORMATION

Llanion Cove Ltd is a private company, limited by shares , registered in 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.

Plant and machinery etc

-

20% on reducing balance, 20% on reducing balance and 15% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st August 2018

and 31st July 2019

25,263

DEPRECIATION

At 1st August 2018

5,299

Charge for year

2,564

At 31st July 2019

7,863

NET BOOK VALUE

At 31st July 2019

17,400

At 31st July 2018

19,964

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

13,261

22,480

Other debtors

7,221

10,338

20,482

32,818

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

6,667

-

Trade creditors

6,057

21,237

Taxation and social security

2,035

2,035

Other creditors

45,824

42,784

60,583

66,056

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Taxation and social security

-

6,538

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st July 2019 and

31st July 2018:

2019

2018

£

£

S Roblin

Balance outstanding at start of year

(21,790

)

(2,790

)

Amounts advanced

-

2,000

Amounts repaid

(22,474

)

(21,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(44,264

)

(21,790

)

C I A James

Balance outstanding at start of year

(13,698

)

(19,998

)

Amounts advanced

13,698

6,300

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(13,698

)

D Wright

Balance outstanding at start of year

(3,716

)

(3,716

)

Amounts advanced

3,716

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(3,716

)

The company, a schoolchildren's activity centre, is run as a not for profit entity and a social enterprise. Any profit

is to be retained and re-invested in the company and not distributed to shareholders at the end of the year. The

directors received no remuneration and have provided significant funds to the company for the purposes of site

and building infrastructure improvements and working capital.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors