Lam Cash and Carry Limited - Limited company accounts 20.1

REGISTERED NUMBER: 01592254 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

LAM CASH AND CARRY LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Other Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Financial Statements

7

DIRECTORS:

A T Kapadia

R Kapadia

SECRETARIES:

A T Kapadia

Mrs S A Kapadia

REGISTERED OFFICE:

24 Bedford Row

London

WC1R 4TQ

REGISTERED NUMBER:

01592254 (England and Wales)

ACCOUNTANTS:

Mehta & Tengra

Chartered Accountants

24 Bedford Row

London

WC1R 4TQ

HOLDING COMPANY:

Davrin Limited

The directors present their report with the financial statements of the company for the year ended 31 March 2020.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of cash & carry wholesalers and distributors. However, the company did not trade during the year.

REVIEW OF BUSINESS

On 17 January 2004, the company ceased trading because of the termination of its lease and is currently considering other options.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2019 to the date of this report.

A T Kapadia

R Kapadia

FIXED ASSETS

there were no investments in fixed assets during the year and changes in fixed assets are given in note 4 to the financial statements.

HOLDING COMPANY

Davrin Limited, a company registered in the United Kingdom, holds 99.99% of the issued share capital.

RELATED PARTY TRANSACTIONS

Except as stated in note 8 to the financial statements, the director had no other material interests at any time during the year in any contract of significance in relation to the business of the company.

TAXATION STATUS

The company is a close company within the provision of the Income and Corporation Taxes Act 2010.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

R Kapadia - Director

17 March 2021

TURNOVER

-

-

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

-

Tax on profit

4

-

-

PROFIT FOR THE FINANCIAL YEAR

-

-

PROFIT FOR THE YEAR

-

-

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

-

-

FIXED ASSETS

Investments

5

100

100

CURRENT ASSETS

Debtors

6

1,611,219

1,611,219

TOTAL ASSETS LESS CURRENT LIABILITIES

1,611,319

1,611,319

CAPITAL AND RESERVES

Called up share capital

7

20,000

20,000

Capital redemption reserve

8

500,000

500,000

Retained earnings

8

1,091,319

1,091,319

SHAREHOLDERS' FUNDS

1,611,319

1,611,319

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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2021 and were signed on its behalf by:

R Kapadia - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2018

20,000

1,091,319

500,000

1,611,319

Changes in equity

Balance at 31 March 2019

20,000

1,091,319

500,000

1,611,319

Changes in equity

Balance at 31 March 2020

20,000

1,091,319

500,000

1,611,319

1.	STATUTORY INFORMATION

Lam Cash and Carry 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 have been prepared in accordance with applicable Accounting Standards in the United Kingdom. A Summary of the more important policies which have been applied consistently is set out below:

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

Pensions

The company operates a defined contribution pension scheme for the director, the funds of which are held separately from those of the company in independently administered fund. The pension cost charge represents contributions paid by the company to the fund.

3.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 March 2020 nor for the year ended 31 March 2019.

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

2020

2019

£

£

Directors' remuneration

-

-

4.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 31 March 2015 nor for the year ended 31 March 2014.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 April 2019

and 31 March 2020

100

NET BOOK VALUE

At 31 March 2020

100

At 31 March 2019

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed by group undertakings

1,611,219

1,611,219

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

20,000

"A" Ordinary

£1

20,000

20,000

8.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2019

1,091,319

500,000

1,591,319

Profit for the year

-

-

At 31 March 2020

1,091,319

500,000

1,591,319

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the amounts due from the company's subsidiary was £1,611,219 (2019:£1,611,219).

10.	GOING CONCERN

Although the company has ceased trading, albeit temporarily, the financial statements have been prepared on the going concern basis.

However, should the company decide to cease trading permanently, the current assets and liabilities would be stated at the same value as that shown in the financial statements.