Lentongate Limited Filleted accounts for Companies House (small and micro)

LENTONGATE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01256466

Lentongate Limited

Filleted Unaudited Financial Statements

31 December 2021

Lentongate Limited

Statement of Financial Position

31 December 2021

	2021	2020
Note	£	£

Current assets

Debtors	5	18,015	6,757
Cash at bank and in hand		19,847	28,405
		--------	--------
		37,862	35,162

Creditors: amounts falling due within one year	6	36,686	34,945
		--------	--------
Net current assets		1,176	217
		-------	----
Total assets less current liabilities		1,176	217
		-------	----

Capital and reserves

Called up share capital	204	204
Profit and loss account	972	13
	-------	----
Shareholders funds	1,176	217
	-------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 13 September 2022 , and are signed on behalf of the board by:

Mr M P Horsnell

Director

Company registration number: 01256466

Lentongate Limited

Notes to the Financial Statements

Year ended 31 December 2021

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 28 Kings Drive, Edgware, Middlesex, HA8 8EE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2020: 4 ).

5. Debtors

	2021	2020
	£	£
Trade debtors	16,632	2,000
Other debtors	1,383	4,757
	--------	-------
	18,015	6,757
	--------	-------

6. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	20,000	20,000
Trade creditors	7,806	7,805
Corporation tax	8,209	5,800
Social security and other taxes	671	598
Other creditors	–	742
	--------	--------
	36,686	34,945
	--------	--------