Larkspur & Lavender Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10705508 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Larkspur & Lavender Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Brace

REGISTERED OFFICE:

Office 10

465C Unit 1 Hornsey Road

Islington

London

N19 4DR

REGISTERED NUMBER:

10705508 (England and Wales)

ACCOUNTANTS:

Goldhill Accountancy Ltd

Office 10, Unit 1

465C Hornsey Road

Islington

London

N19 4DR

FIXED ASSETS

Tangible assets

4

138

-

CURRENT ASSETS

Debtors

5

9,423

7,000

Cash at bank

454

296

9,877

7,296

CREDITORS

Amounts falling due within one year

6

9,926

10,335

NET CURRENT LIABILITIES

(49

)

(3,039

)

TOTAL ASSETS LESS CURRENT LIABILITIES

89

(3,039

)

PROVISIONS FOR LIABILITIES

7

21

-

NET ASSETS/(LIABILITIES)

68

(3,039

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

8

67

(3,040

)

68

(3,039

)

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 31 December 2020 and were signed by:

S Brace - Director

1.	STATUTORY INFORMATION

Larkspur & Lavender 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.

The directors have considered the consequences of COVID-19 and other events and conditions, and have determined that they do not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.

The impact of COVID-19 on future performance and therefore on the measurement of some assets and liabilities or on liquidity might be significant and might therefore require disclosure in the financial statements, but the directors have determined that they do not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.

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 & machinery 25% straight line 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 NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

Additions

154

At 31 March 2020

154

DEPRECIATION

Charge for year

16

At 31 March 2020

16

NET BOOK VALUE

At 31 March 2020

138

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

-

1,100

Director's curr accs less 1yr

9,423

5,113

Prepayments and accrued income

-

787

9,423

7,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

-

1,739

Tax

3,265

-

VAT

6,661

6,661

Accrued expenses

-

1,935

9,926

10,335

7.	PROVISIONS FOR LIABILITIES

31.3.20

31.3.19

£

£

Deferred tax

21

-

Deferred

tax

£

Provided during year

21

Balance at 31 March 2020

21

8.

RESERVES

Retained

earnings

£

At 1 April 2019

(3,040

)

Profit for the year

15,607

Dividends

(12,500

)

At 31 March 2020

67

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:

31.3.20

31.3.19

£

£

S Brace

Balance outstanding at start of year

5,114

6,250

Amounts advanced

49,263

36,067

Amounts repaid

(44,954

)

(37,203

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,423

5,114

The director's current account balance of £9,423 (2019: £5,114) have no fixed date for repayment, are repayable upon demand and are non-interest bearing.