Louis Arkwright Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11367717 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st May 2021

for

Louis Arkwright Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTOR:

L D Arkwright

REGISTERED OFFICE:

Bank House Farm

The Green

North Deighton

Wetherby

North Yorkshire

LS22 4EN

REGISTERED NUMBER:

11367717 (England and Wales)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Tangible assets

4

2,320

3,095

CURRENT ASSETS

Stocks

5,600

-

Cash at bank and in hand

100

4,358

5,700

4,358

CREDITORS

Amounts falling due within one year

5

(3,735

)

(1,957

)

NET CURRENT ASSETS

1,965

2,401

TOTAL ASSETS LESS CURRENT LIABILITIES

4,285

5,496

CREDITORS

Amounts falling due after more than one year

6

(4,000

)

(5,000

)

NET ASSETS

285

496

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

185

396

285

496

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 9th May 2022 and were signed by:

L D Arkwright - Director

1.	STATUTORY INFORMATION

Louis Arkwright 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.

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

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

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

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.

Taxation

Taxation for the year 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 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.

Provisions & contingencies

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st June 2020

and 31st May 2021

5,500

DEPRECIATION

At 1st June 2020

2,405

Charge for year

775

At 31st May 2021

3,180

NET BOOK VALUE

At 31st May 2021

2,320

At 31st May 2020

3,095

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

1,448

-

Trade creditors

600

480

Taxation and social security

907

-

Other creditors

780

1,477

3,735

1,957

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

4,000

5,000

7.	RELATED PARTY DISCLOSURES

At 31st May 2021, the company owed the director the sum of £180 (2020 - £877) by way of an interest free directors current account.