Legacy Partnership (Devon) Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 12352167 (England and Wales)

LEGACY PARTNERSHIP (DEVON) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2021 TO 31 MARCH 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms M E Edwards

Mr P H T McNeil

Dr V N Shah

REGISTERED OFFICE:

Cash’s Business Centre

1st Floor, 228 Widdrington Road

Coventry

West Midlands

CV1 4PB

REGISTERED NUMBER:

12352167 (England and Wales)

ACCOUNTANTS:

Shah & Co (Accountants) Ltd

Chartered Certified Accountants

Cash's Business Centre

1st Floor

228 Widdrington Road

Coventry

West Midlands

CV1 4PB

FIXED ASSETS

Tangible assets

4

778,988

572,257

CURRENT ASSETS

Debtors

5

-

50

Cash at bank

6,502

90

6,502

140

CREDITORS

Amounts falling due within one year

6

549,970

272,971

NET CURRENT LIABILITIES

(543,468

)

(272,831

)

TOTAL ASSETS LESS CURRENT LIABILITIES

235,520

299,426

CREDITORS

Amounts falling due after more than one year

7

300,000

300,000

NET LIABILITIES

(64,480

)

(574

)

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

(64,630

)

(724

)

SHAREHOLDERS' FUNDS

(64,480

)

(574

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2022 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2022 and were signed on its behalf by:

Ms M E Edwards - Director

1.	STATUTORY INFORMATION

Legacy Partnership (Devon) 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.

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.

Tangible fixed assets

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

Freehold property

-

2% on cost

Improvements to property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the period 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 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 January 2021

572,257

-

-

Additions

-

178,878

26,142

At 31 March 2022

572,257

178,878

26,142

DEPRECIATION

Charge for period

11,445

3,577

5,228

At 31 March 2022

11,445

3,577

5,228

NET BOOK VALUE

At 31 March 2022

560,812

175,301

20,914

At 31 December 2020

572,257

-

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2021

-

-

572,257

Additions

28,009

1,424

234,453

At 31 March 2022

28,009

1,424

806,710

DEPRECIATION

Charge for period

7,002

470

27,722

At 31 March 2022

7,002

470

27,722

NET BOOK VALUE

At 31 March 2022

21,007

954

778,988

At 31 December 2020

-

-

572,257

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.12.20

£

£

Other debtors

-

50

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.12.20

£

£

Bank loans and overdrafts

217,434

-

Hire purchase contracts

20,862

-

Directors' current accounts

309,280

272,497

Accrued expenses

2,394

474

549,970

272,971

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.12.20

£

£

Dr Vinit Shah Ltd

300,000

300,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The amount owed to directors is £309,280 (2020:£272,497) .The loans are interest free and with no fixed date of repayment.