Livestock and General Cargo Co Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01850976 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 NOVEMBER 2019 TO 31 MARCH 2021

FOR

LIVESTOCK AND GENERAL CARGO COMPANY

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Drake

SECRETARY:

Mrs S W Drake

REGISTERED OFFICE:

Hare Lodge

Monmouth Hill

Tuckingmill

Tisbury

SP3 6NR

REGISTERED NUMBER:

01850976 (England and Wales)

ACCOUNTANTS:

Fawcetts LLP

Chartered Accountants

Windover House

St. Ann Street

Salisbury

SP1 2DR

FIXED ASSETS

Tangible assets

4

-

1,361

CURRENT ASSETS

Debtors

5

1,220

29,213

Cash at bank

380

45,946

1,600

75,159

CREDITORS

Amounts falling due within one year

6

1,500

64,136

NET CURRENT ASSETS

100

11,023

TOTAL ASSETS LESS CURRENT LIABILITIES

100

12,384

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

-

12,284

SHAREHOLDERS' FUNDS

100

12,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 26 May 2021 and were signed by:

G Drake - Director

1.	STATUTORY INFORMATION

Livestock and General Cargo Company 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 on a going concern basis and are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Office equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation and replacement is written off as expenditure in the profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Debtors

Debtors are measured at their recoverable amount.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2019

26,274

Disposals

(26,274

)

At 31 March 2021

-

DEPRECIATION

At 1 November 2019

24,913

Eliminated on disposal

(24,913

)

At 31 March 2021

-

NET BOOK VALUE

At 31 March 2021

-

At 31 October 2019

1,361

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2019

£

£

Trade debtors

-

27,550

Other debtors

1,220

1,663

1,220

29,213

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2019

£

£

Trade creditors

-

496

Taxation and social security

-

6,122

Other creditors

1,500

57,518

1,500

64,136

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2019

value:

£

£

100

Ordinary

£1

100

100

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2021 and the year ended 31 October 2019:

2021

2019

£

£

G Drake

Balance outstanding at start of period

-

-

Amounts advanced

20,990

-

Amounts repaid

(20,531

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

459

-

9.	RELATED PARTY DISCLOSURES

Creditors due within one year include £Nil (2019 - £593) which is owed to the director of the company.