Lloyd & Lloyd Associates Limited - Period Ending 2022-05-31

Lloyd & Lloyd Associates Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Lloyd & Lloyd Associates Limited

Company Information

Directors	Mrs L J Lloyd Mr J D Lloyd

Registered office

51 St. John Street Ashbourne Derbyshire DE6 1GP

Accountants

Coates and Partners Limited Chartered Accountants The Old Vicarage 51 St John Street Ashbourne Derbyshire DE6 1GP

Lloyd & Lloyd Associates Limited

(Registration number: 08061855)
Balance Sheet as at 31 May 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	-	756
Current assets
Debtors	5	3,629	10,433
Cash at bank and in hand		30,481	105,450
		34,110	115,883
Creditors: Amounts falling due within one year	6	(43,076)	(114,510)
Net current (liabilities)/assets		(8,966)	1,373
Net (liabilities)/assets		(8,966)	2,129
Capital and reserves
Allotted, called up and fully paid share capital		100	100
Profit and loss account		(9,066)	2,029
		(8,966)	2,129
Total equity		(8,966)	2,129

For the financial year ending 31 May 2022 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

These financial statements have been delivered to the Registrar of Companies in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors' report has been taken.

Approved and authorised by the Board on 21 November 2022 and signed on its behalf by:
 

......................................... Mrs L J Lloyd Director

Lloyd & Lloyd Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

1	General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 08061855.

The address of its registered office is:
51 St. John Street
Ashbourne
Derbyshire
DE6 1GP
England

These financial statements were authorised for issue by the Board on 21 November 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Lloyd & Lloyd Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	33% straight line basis

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 June 2021	2,224	2,224
Disposals	(2,224)	(2,224)
At 31 May 2022	-	-
Depreciation
At 1 June 2021	1,468	1,468
Eliminated on disposal	(1,468)	(1,468)
At 31 May 2022	-	-
Carrying amount
At 31 May 2022	-	-
At 31 May 2021	756	756

Lloyd & Lloyd Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022 (continued)

5

Debtors

Current	2022 £	2021 £
Trade debtors	-	9,059
Other debtors	3,629	1,374
	3,629	10,433

6

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Trade creditors	3,205	-
Taxation and social security	4,939	3,703
Accruals and deferred income	2,400	1,835
Other creditors	32,532	108,972
	43,076	114,510