Lansdown of Bath Limited - Accounts to registrar (filleted) - small 18.2
Lansdown of Bath Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 October 2021 |
| for |
| LANSDOWN OF BATH LIMITED |
| LANSDOWN OF BATH LIMITED (REGISTERED NUMBER: 03922092) |
| Contents of the Financial Statements |
| for the year ended 31 October 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| LANSDOWN OF BATH LIMITED |
| Company Information |
| for the year ended 31 October 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| 11 Laura Place |
| Bath |
| BA2 4BL |
| LANSDOWN OF BATH LIMITED (REGISTERED NUMBER: 03922092) |
| Balance Sheet |
| 31 October 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 |
| LANSDOWN OF BATH LIMITED (REGISTERED NUMBER: 03922092) |
| Notes to the Financial Statements |
| for the year ended 31 October 2021 |
| 1. | STATUTORY INFORMATION |
| Lansdown of Bath Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost convention unless otherwise |
| specified within these accounting policies and in accordance with Section 1A of Financial Reporting |
| Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. |
| The following principal accounting policies have been applied: |
| Turnover |
| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the |
| Company and the revenue can be reliably measured. Revenue is measured as the fair value of the |
| consideration received or receivable, excluding discounts, rebates, value added tax and other sales |
| taxes. The following criteria must also be met before revenue is recognised: |
| Sale of goods |
| Revenue from the sale of goods is recognised when all of the following conditions are satisfied: |
| - The Company has transferred the significant risks and rewards of ownership to the buyer; |
| - The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; |
| - The amount of revenue can be measured reliably; |
| - It is probable that the Company will receive the consideration due under the transaction; and |
| - The costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| Intangible assets |
| Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible |
| assets are measured at cost less any accumulated amortisation and any accumulated impairment |
| losses. |
| All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life |
| cannot be made, the useful life shall not exceed ten years. |
| LANSDOWN OF BATH LIMITED (REGISTERED NUMBER: 03922092) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Freehold property | - |
| Short leasehold | - |
| Plant & machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| The Freehold property valuation has been taken at deemed cost. The difference between the |
| depreciation on the original cost and the deemed cost has been transferred to the revaluation |
| reserve. The land element is not depreciated. |
| Revaluation of tangible fixed assets |
| Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance Sheet date. |
| Fair values are determined from market based evidence normally undertaken by professionally |
| qualified valuers. |
| Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss. |
| Government grants |
| Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to |
| expenditure on tangible fixed assets are credited to profit or loss at the same rate as the |
| depreciation on the assets to which the grant relates. The deferred element of grants is included in |
| creditors as deferred income. |
| Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same |
| period as the related expenditure. |
| Stocks |
| Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less |
| costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. |
| Work in progress and finished goods include labour and attributable overheads. |
| At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying |
| amount is reduced to its selling price less costs to complete and sell. The impairment loss is |
| recognised immediately in profit or loss. |
| Demonstration vehicles within stock are written down from cost on the basis that the value is |
| impaired through their use as demonstrators. |
| LANSDOWN OF BATH LIMITED (REGISTERED NUMBER: 03922092) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of |
| financial assets and liabilities like trade and other debtors and creditors, loans from banks and other |
| third parties, loans to related parties and investments in ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each |
| reporting period for objective evidence of impairment. If objective evidence of impairment is found, |
| an impairment loss is recognised in the Statement of Comprehensive Income. |
| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when |
| there is an enforceable right to set off the recognised amounts and there is an intention to settle on a |
| net basis or to realise the asset and settle the liability simultaneously. |
| Taxation |
| Taxation for the year 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 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Provisions for liabilities |
| Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. |
| Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the |
| expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
| When payments are eventually made, they are charged to the provision carried in the Balance |
| Sheet. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| LANSDOWN OF BATH LIMITED (REGISTERED NUMBER: 03922092) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2021 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 November 2020 |
| Disposals | ( |
) |
| At 31 October 2021 |
| AMORTISATION |
| At 1 November 2020 |
| Eliminated on disposal | ( |
) |
| At 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| At 31 October 2020 |
| 5. | TANGIBLE FIXED ASSETS |
| Freehold | Short | Plant & |
| property | leasehold | machinery |
| £ | £ | £ |
| COST |
| At 1 November 2020 |
| Additions |
| Disposals | ( |
) |
| At 31 October 2021 |
| DEPRECIATION |
| At 1 November 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| At 31 October 2020 |
| LANSDOWN OF BATH LIMITED (REGISTERED NUMBER: 03922092) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2021 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 November 2020 |
| Additions |
| Disposals | ( |
) |
| At 31 October 2021 |
| DEPRECIATION |
| At 1 November 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| At 31 October 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Bank loans were secured under the UK Government Coronavirus Bounce Back Loan Scheme. |
| 9. | PROVISIONS FOR LIABILITIES |
| 2021 | 2020 |
| £ | £ |
| Deferred tax | 36,505 | 33,445 |
| LANSDOWN OF BATH LIMITED (REGISTERED NUMBER: 03922092) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2021 |
| 9. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 November 2020 |
| Charged to profit or loss | 3,534 |
| Charged to OCI | (474 | ) |
| Balance at 31 October 2021 |
| The provision for deferred taxation is made up as follows: |
| 2021 | 2020 |
| £ | £ |
| Freehold property revaluations | 29,195 | 29,670 |
| Accelerated capital allowances | 7,310 | 3,775 |
| 36,505 | 33,445 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary | £1 | 126,828 | 126,828 |
| 11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 12. | OPERATING LEASE COMMITMENTS |
| The company has total commitments under operating leases at the year end of £nil (2020: £49,588). |