Lectri-Call Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06866304 (England and Wales)

LECTRI-CALL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

58,500

72,000

Tangible assets

5

122,477

120,998

180,977

192,998

CURRENT ASSETS

Stocks

124,988

123,698

Debtors

6

752,111

883,598

Cash at bank and in hand

239,507

226,342

1,116,606

1,233,638

CREDITORS

Amounts falling due within one year

7

577,106

697,455

NET CURRENT ASSETS

539,500

536,183

TOTAL ASSETS LESS CURRENT LIABILITIES

720,477

729,181

CREDITORS

Amounts falling due after more than one year

8

(8,333

)

(6,871

)

PROVISIONS FOR LIABILITIES

(23,271

)

(21,700

)

NET ASSETS

688,873

700,610

CAPITAL AND RESERVES

Called up share capital

10

6

6

Retained earnings

688,867

700,604

SHAREHOLDERS' FUNDS

688,873

700,610

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2020 and were signed on its behalf by:

Mr S J Talbot - Director

Mrs A E Taylor - Director

Mr C W Prodger - Director

1.	STATUTORY INFORMATION

Lectri-Call Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address are as below:

Registered number:

06866304

Registered office:

Unit 4, Baswich Business Park

Tilcon Avenue

Baswich

Stafford

ST18 0YL

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.

The financial statements are prepared in sterling, which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of consideration received or receivable for goods provided in

normal course of business, and is shown net of VAT and other sales related taxes. The fair value of

consideration takes into account trade discounts, settlement discounts, and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of

the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be

measured reliably, it is probable that the economic benefits associated with the transactions will flow to

the entity and the costs incurred or to be incurred in respect of the transaction can be measured

reliably.

Intangible fixed assets - goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less

accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite

useful life and is amortised on a systematic basis over its expected life, which is 15 years.

Tangible fixed assets

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

Short leasehold

-

100% on cost

Plant and machinery

-

25% reducing balance

Fixtures and fittings

-

15% reducing balance and 3 years on cost

Motor vehicles

-

25% reducing balance

Stocks

Stocks are stated at the lower of cost or estimated selling price. Cost comprises direct materials and

those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of

stocks over its estimated selling price less costs is recognised as an impairment loss in profit or loss.

Reversals of impairment losses are also recognised in profit or loss.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction

costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at

the discretion of the company.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the

risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the asset's fair value at the

date of inception and the present value of the minimum lease payments. The related liability is included

in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital

and interest elements. The interest is charged to the profit and loss account so as to produce a

constant periodic rate of interest on the remaining balance of liability.

Rentals payable under operating leases are recognised on a straight line basis over the term of the

relevant lease.

Retirement benefits

Payments to defined contribution retirement benefits schemes are charged as an expense as they fall.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those

costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's

services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably

committed to terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2019 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

202,500

AMORTISATION

At 1 April 2019

130,500

Charge for year

13,500

At 31 March 2020

144,000

NET BOOK VALUE

At 31 March 2020

58,500

At 31 March 2019

72,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2019

6,921

221,720

228,641

Additions

-

35,397

35,397

Disposals

-

(16,055

)

(16,055

)

At 31 March 2020

6,921

241,062

247,983

DEPRECIATION

At 1 April 2019

6,921

100,722

107,643

Charge for year

-

24,887

24,887

Eliminated on disposal

-

(7,024

)

(7,024

)

At 31 March 2020

6,921

118,585

125,506

NET BOOK VALUE

At 31 March 2020

-

122,477

122,477

At 31 March 2019

-

120,998

120,998

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

as

restated

£

£

Trade debtors

490,419

680,092

Other debtors

261,692

203,506

752,111

883,598

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

as

restated

£

£

Hire purchase contracts

8,537

9,873

Trade creditors

446,781

512,393

Taxation and social security

114,361

167,581

Other creditors

7,427

7,608

577,106

697,455

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

as

restated

£

£

Hire purchase contracts

8,333

6,871

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

as

restated

£

£

Hire purchase contracts

16,870

16,744

Net obligations under hire purchase contracts are secured by fixed charges on the assets concerned.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

as restated

£

£

6

Ordinary shares

£1

6

6

11.	OPERATING LEASE COMMITMENTS

At the reporting date the company had outstanding commitments for future minimum lease payments

under non-cancellable operating leases of £32,083 (2019 - £1,392).

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 March 2020 £175,784 (2019 - £207,036) was due from the directors to the company. This loan

was unsecured and repayable on demand, with interest charged at 2.5%.