Loxton Installations Limited - Accounts to registrar (filleted) - small 18.2
Loxton Installations Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2020 |
| for |
| Loxton Installations Limited |
| Loxton Installations Limited (Registered number: 01275429) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Loxton Installations Limited |
| Company Information |
| for the Year Ended 31 March 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Thatcher House |
| 12 Mount Ephraim |
| Tunbridge Wells |
| Kent |
| TN4 8AS |
| Loxton Installations Limited (Registered number: 01275429) |
| Balance Sheet |
| 31 March 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| 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. |
| Loxton Installations Limited (Registered number: 01275429) |
| Balance Sheet - continued |
| 31 March 2020 |
| 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 |
| Loxton Installations Limited (Registered number: 01275429) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2020 |
| 1. | STATUTORY INFORMATION |
| Loxton Installations Limited is a |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| 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 |
| Fixtures and fittings | - |
| Motor vehicles | - |
| STOCKS |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date. |
| HIRE PURCHASE AND LEASING COMMITMENTS |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Loxton Installations Limited (Registered number: 01275429) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | and | Motor | Computer |
| property | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2019 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 April 2019 |
| Additions |
| At 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| Loxton Installations Limited (Registered number: 01275429) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 5. | DEBTORS |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Prepayments |
| Amounts falling due after more than one year: |
| Deferred tax Asset |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Corporation tax | ( |
) |
| Paye NI liability |
| VAT | 147,356 | 96,175 |
| Other creditors |
| Deferred income | 84,387 | 64,777 |
| Directors' loan accounts | 488,453 | 95 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts |
| 8. | SECURED DEBTS |
| Bank security includes a mortgage debenture incorporating a floating charge over the company's assets. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| Loxton Installations Limited (Registered number: 01275429) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 10. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 April 2019 |
| Deficit for the year | ( |
) |
| Dividends | ( |
) |
| At 31 March 2020 |
| 11. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £81,910 (2019 - £145,000) were paid to the directors . |
| At the year end, the following amounts are shown in other debtors: |
| £1,300 is owed by Mr. Diarmuid O'Shea, a former director of the company. |
| The former directors other company LEHL owed £558,149. |
| Mr. Gareth Jones, a friend of the former Director Mr. Diarmuid O'Shea, owed £31,565 to the company. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The controlling party is K J Wyatt. |
| 13. | POST BALANCE SHEET EVENTS |
| Since the year end, the Coronavirus (COVID-19) has emerged globally resulting in a significant impact on |
| businesses worldwide. As a result some business operations have been restricted, however the company |
| continues to operate using alternative methods and remote working. The director is unable to evaluate the overall financial impact on the business at present. Hence financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors is continuing to monitor, assess and act to the current changing environment in order to position the company to ensure its future success. |