Classic Lines Design Ltd - Accounts to registrar (filleted) - small 18.2

Classic Lines Design Ltd - Accounts to registrar (filleted) - small 18.2

CLASSIC LINES DESIGN LTD - Company Information

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REGISTERED NUMBER: 05150346 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2020

for

Classic Lines Design Ltd
Classic Lines Design Ltd (Registered number: 05150346)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Classic Lines Design Ltd


Company Information
for the Year Ended 31 August 2020







DIRECTORS: B A McMahon
Mrs E McMahon





REGISTERED OFFICE: 71a High Street
Bromsgrove
Worcestershire
B61 8AQ





REGISTERED NUMBER: 05150346 (England and Wales)





ACCOUNTANTS: Davies Archytas Accountants Ltd
14, The Oaks
Clews Road
Oakenshaw
Redditch
Worcestershire
B98 7ST
Page 1
Classic Lines Design Ltd (Registered number: 05150346)


Abridged Statement of Financial Position
31 August 2020

31.8.20 31.8.19
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 23,697 5,096
23,697 5,096

CURRENT ASSETS
Debtors 13,613 28,030
Cash at bank and in hand 65,653 14,039
79,266 42,069
CREDITORS
Amounts falling due within one year 77,952 35,963
NET CURRENT ASSETS 1,314 6,106
TOTAL ASSETS LESS CURRENT
LIABILITIES
25,011
11,202

PROVISIONS FOR LIABILITIES 4,330 -
NET ASSETS 20,681 11,202

CAPITAL AND RESERVES
Called up share capital 6 102 102
Retained earnings 20,579 11,100
SHAREHOLDERS' FUNDS 20,681 11,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 notes form part of these financial statements

Page 2 continued...
Classic Lines Design Ltd (Registered number: 05150346)


Abridged Statement of Financial Position - continued
31 August 2020


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 August 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2021 and were signed on its behalf by:





B A McMahon - Director


The notes form part of these financial statements

Page 3
Classic Lines Design Ltd (Registered number: 05150346)


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

1. STATUTORY INFORMATION

Classic Lines Design Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 25% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 2 (2019 - 2 ) .

Page 4 continued...
Classic Lines Design Ltd (Registered number: 05150346)


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

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2019
and 31 August 2020 100,000
AMORTISATION
At 1 September 2019
and 31 August 2020 100,000
NET BOOK VALUE

At 31 August 2020 -
At 31 August 2019 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2019 50,215
Additions 26,500
At 31 August 2020 76,715
DEPRECIATION
At 1 September 2019 45,119
Charge for year 7,899
At 31 August 2020 53,018
NET BOOK VALUE
At 31 August 2020 23,697
At 31 August 2019 5,096

6. CALLED UP SHARE CAPITAL




Allotted, issued and fully paid:
Number: Class: Nominal 31.8.20 31.8.19
value: £    £   
100 Ordinary £1 100 100
1 Preference A £1 1 1
1 Preference B £1 1 1
102 102

7. ULTIMATE CONTROLLING PARTY

The controlling parties during the year under review were the directors by virtue of their 100% holding of the issued share capital.

Page 5