Landall Services Limited

Landall Services Limited

LANDALL SERVICES LIMITED - Company Information

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1 August 2019 false Taxfiler 2021.5 10275072business:PrivateLimitedCompanyLtd2019-08-012020-07-31 102750722019-07-31 102750722019-08-012020-07-31 10275072business:AuditExemptWithAccountantsReport2019-08-012020-07-31 10275072business:FullAccounts2019-08-012020-07-31 102750722020-07-31 10275072business:Director12019-08-012020-07-31 10275072business:Director22019-08-012020-07-31 10275072business:RegisteredOffice2019-08-012020-07-31 102750722019-07-31 10275072core:WithinOneYear2020-07-31 10275072core:WithinOneYear2019-07-31 10275072core:AfterOneYear2020-07-31 10275072core:AfterOneYear2019-07-31 10275072core:ShareCapital2020-07-31 10275072core:ShareCapital2019-07-31 10275072core:RetainedEarningsAccumulatedLosses2020-07-31 10275072core:RetainedEarningsAccumulatedLosses2019-07-31 10275072business:SmallEntities2019-08-012020-07-31 10275072countries:EnglandWales2019-08-012020-07-31 10275072core:ComputerEquipment2019-08-012020-07-31 10275072core:IntangibleAssetsOtherThanGoodwill2019-07-31 10275072core:IntangibleAssetsOtherThanGoodwill2019-08-012020-07-31 10275072core:IntangibleAssetsOtherThanGoodwill2020-07-31 10275072core:ComputerEquipment2019-07-31 10275072core:ComputerEquipment2020-07-31 10275072core:AdditionsToInvestments2020-07-31 10275072core:BetweenOneFiveYears2020-07-31 10275072core:BetweenOneFiveYears2019-07-31 102750722018-08-012019-07-31 iso4217:GBP xbrli:pure
Company Registration No. 10275072 (England and Wales)
Landall Services Limited Unaudited accounts for the year ended 31 July 2020
Landall Services Limited Unaudited accounts Contents
Page
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Landall Services Limited Company Information for the year ended 31 July 2020
Directors
J R Cunningham N J Feltham
Company Number
10275072 (England and Wales)
Registered Office
Unit 3, Bradmere House Brook Way Leatherhead Surrey England KT22 7NA
Accountants
Wellden Turnbull Limited Albany House Claremont Lane Esher Surrey KT10 9FQ
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Landall Services Limited Statement of financial position as at 31 July 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
96,036 
305,933 
Tangible assets
5
55,150 
178,397 
Investments
6
1,560,144 
- 
1,711,330 
484,330 
Current assets
Inventories
7
111,269 
84,953 
Debtors
8
289,676 
186,451 
Cash at bank and in hand
2,272,774 
2,696,570 
2,673,719 
2,967,974 
Creditors: amounts falling due within one year
9
(741,084)
(684,315)
Net current assets
1,932,635 
2,283,659 
Total assets less current liabilities
3,643,965 
2,767,989 
Creditors: amounts falling due after more than one year
10
(48,410)
- 
Net assets
3,595,555 
2,767,989 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
3,595,455 
2,767,889 
Shareholders' funds
3,595,555 
2,767,989 
For the year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2021 and were signed on its behalf by
N J Feltham Director Company Registration No. 10275072
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Landall Services Limited Notes to the Accounts for the year ended 31 July 2020
1
Statutory information
Landall Services Limited is a private company, limited by shares, registered in England and Wales, registration number 10275072. The registered office is Unit 3, Bradmere House, Brook Way, Leatherhead, Surrey, England, KT22 7NA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The company a parent company and is exempt from the requirement to prepare group accounts by virtue of section 399 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group. The following principal accounting policies have been applied:
Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: - the Company has transferred the significant risks and rewards of ownership to the buyer; - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the transaction; and - the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.
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Landall Services Limited Notes to the Accounts for the year ended 31 July 2020
Presentation currency
The accounts are presented in £ sterling.
Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the Statement of lncome and Retained Earnings on a straight line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 12 July 2016 to continue to be charged over the period to the first market rent review rather than the term of the lease.
Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the Statement of lncome and Retained Earnings when they fall due Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Taxation
Tax is recognised in the Statement of lncome and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates Income.
Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Landall Services Limited Notes to the Accounts for the year ended 31 July 2020
Tangible fixed assets and depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis'
Computer equipment
3 years straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of lncome and Retained Earnings.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 August 2019
332,671 
Disposals
(176,474)
At 31 July 2020
156,197 
Amortisation
At 1 August 2019
26,738 
On disposals
(14,706)
Charge for the year
48,129 
At 31 July 2020
60,161 
Net book value
At 31 July 2020
96,036 
At 31 July 2019
305,933 
In the prior year, additions of computer hardware were incorrectly capitalised as intangible assets in error. £192,465 of additions and £160,039 of amortisation has been reclassified to computer equipment. There is no impact on the profit and loss account.
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Landall Services Limited Notes to the Accounts for the year ended 31 July 2020
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 August 2019
201,299 
Additions
7,372 
Disposals
(105,856)
At 31 July 2020
102,815 
Depreciation
At 1 August 2019
22,902 
Charge for the year
33,584 
On disposals
(8,821)
At 31 July 2020
47,665 
Net book value
At 31 July 2020
55,150 
At 31 July 2019
178,397 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 August 2019
- 
Additions
1,560,144 
Valuation at 31 July 2020
1,560,144 
7
Inventories
2020 
2019 
£ 
£ 
Finished goods
111,269 
84,953 
111,269 
84,953 
8
Debtors: amounts falling due within one year
2020 
2019 
£ 
£ 
Trade debtors
165,968 
159,543 
Accrued income and prepayments
83,248 
25,625 
Other debtors
40,460 
1,283 
289,676 
186,451 
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Landall Services Limited Notes to the Accounts for the year ended 31 July 2020
9
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Bank loans and overdrafts
1,743 
- 
Trade creditors
185,235 
356,975 
Amounts owed to group undertakings and other participating interests
905 
- 
Taxes and social security
399,489 
290,803 
Other creditors
151,789 
827 
Loans from directors
- 
1,799 
Accruals
1,923 
33,911 
741,084 
684,315 
10
Creditors: amounts falling due after more than one year
2020 
2019 
£ 
£ 
Bank loans
48,410 
- 
11
Operating lease commitments
2020 
2019 
£ 
£ 
At 31 July 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
19,200 
19,200 
Within two to five years
30,400 
49,600 
49,600 
68,800 
12
Loans to directors
At the balance sheet date a director owed £35,731 to the Company (2019 - £1,800 owed to the director). At the balance sheet date a director owed £3,447 (2019 - £NIL) to the Company.
13
Transactions with related parties
The company has taken the exemption under FRS102 section 33.1A not to disclose transactions and balances with other group companies, on the basis that it is a wholly owned subsidiary.
14
Average number of employees
During the year the average number of employees was 7 (2019: 6).
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