Louie Anthony Sports Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08734570 (England and Wales)

Financial Statements for the Year Ended 29 February 2020

for

Louie Anthony Sports Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L A Evans

REGISTERED OFFICE:

2nd Floor, Woodside House

261 Low Lane

Horsforth

Leeds

West Yorkshire

LS18 5NY

REGISTERED NUMBER:

08734570 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

2nd Floor, Woodside House

261 Low Lane

Horsforth

Leeds

West Yorkshire

LS18 5NY

FIXED ASSETS

Tangible assets

4

799

-

CURRENT ASSETS

Debtors

5

54,415

62,216

Cash at bank

293,906

183,738

348,321

245,954

CREDITORS

Amounts falling due within one year

6

280,839

248,825

NET CURRENT ASSETS/(LIABILITIES)

67,482

(2,871

)

TOTAL ASSETS LESS CURRENT LIABILITIES

68,281

(2,871

)

PROVISIONS FOR LIABILITIES

152

-

NET ASSETS/(LIABILITIES)

68,129

(2,871

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

68,029

(2,971

)

SHAREHOLDERS' FUNDS

68,129

(2,871

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 November 2020 and were signed by:

L A Evans - Director

1.	STATUTORY INFORMATION

Louie Anthony Sports 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 functional currency is sterling and the financial statements are rounded to the nearest £.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax and is recognised upon completion of work done.

Tangible fixed assets

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

Computer equipment

-

33% Straight-Line

Financial instruments

Basic financial instruments are recognised at amortised cost.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 March 2019

699

Additions

1,199

At 29 February 2020

1,898

DEPRECIATION

At 1 March 2019

699

Charge for year

400

At 29 February 2020

1,099

NET BOOK VALUE

At 29 February 2020

799

At 28 February 2019

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.2.20

28.2.19

£

£

Trade debtors

50,082

57,883

Amounts recoverable on contract

4,333

4,333

54,415

62,216

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.2.20

28.2.19

£

£

Trade creditors

3,511

-

Taxation and social security

36,649

21,248

Other creditors

240,679

227,577

280,839

248,825