Latham Filtration Limited - Accounts to registrar (filleted) - small 18.2

Latham Filtration Limited - Accounts to registrar (filleted) - small 18.2

LATHAM FILTRATION LIMITED - Company Information

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REGISTERED NUMBER: 08578468 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Latham Filtration Limited
Latham Filtration Limited (Registered number: 08578468)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Latham Filtration Limited

Company Information
for the Year Ended 31 March 2020







DIRECTORS: P Latham
K C Latham





REGISTERED OFFICE: Rowhurst Close Industrial Estate
Newcastle under Lyme
Staffordshire
ST5 6BD





REGISTERED NUMBER: 08578468 (England and Wales)





Page 1
Latham Filtration Limited (Registered number: 08578468)

Statement of Financial Position
31 March 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Investments 4 10,000 10,000

CURRENT ASSETS
Debtors 5 1,200,000 1,200,000
Cash in hand 2 2
1,200,002 1,200,002
NET CURRENT ASSETS 1,200,002 1,200,002
TOTAL ASSETS LESS CURRENT LIABILITIES 1,210,002 1,210,002

CAPITAL AND RESERVES
Called up share capital 10,002 10,002
Retained earnings 1,200,000 1,200,000
SHAREHOLDERS' FUNDS 1,210,002 1,210,002

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 4 March 2021 and were signed on its behalf by:





K C Latham - Director


The notes form part of these financial statements

Page 2
Latham Filtration Limited (Registered number: 08578468)

Notes to the Financial Statements
for the Year Ended 31 March 2020

1. STATUTORY INFORMATION

Latham Filtration 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 financial statements cover the company as an individual entity and are presented in Pounds Sterling (£) being the functional currency.

The financial statements have been prepared on a going concern basis on the assumption that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have made this assessment with regard to the company’s current and expected performance.

Particular consideration has been given to the impact of the Coronavirus on the company's ability to operate for the foreseeable future. The company's subsidiary has been slightly impacted by the coronavirus pandemic, but the directors are confident that the company will be able to manage cash-flow in such a way as to ensure that the company can continue trading.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' section 1AC.35, not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Basic financial assets and liabilities are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

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

Page 3 continued...
Latham Filtration Limited (Registered number: 08578468)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2019
and 31 March 2020 10,000
NET BOOK VALUE
At 31 March 2020 10,000
At 31 March 2019 10,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Amounts owed by group undertakings 1,200,000 1,200,000

6. POST BALANCE SHEET EVENTS

In March 2020 the UK was impacted by the outbreak of the Coronavirus. In order to manage the spread of the virus the Government has imposed significant restrictions on the movement of people and the ability of businesses to continue to trade.

The company's subsidiary has been slightly impacted by the coronavirus pandemic, but the directors do not anticipate that this will impact Latham Filtration Limited.

The directors are confident that the company will be able to manage cash-flow in such a way as to ensure that the company can continue trading.

Page 4