Lunnun Trading & Sales Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04501772 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2021

for

Lunnun Trading & Sales Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N I T Lunnun

Mrs A J Lunnun

SECRETARY:

Mrs A J Lunnun

REGISTERED OFFICE:

Eaton Croft

Upwoods Road

Doveridge

Ashbourne

Derbyshire

DE6 5LL

REGISTERED NUMBER:

04501772 (England and Wales)

ACCOUNTANTS:

Bourne & Co.

Chartered Accountants

3 Charnwood Street

Derby

Derbyshire

DE1 2GY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

80,080

100,981

80,080

100,981

CURRENT ASSETS

Stocks

15,700

15,700

Debtors

6

42,381

37,718

Cash at bank

96,759

70,754

154,840

124,172

CREDITORS

Amounts falling due within one year

7

62,539

87,606

NET CURRENT ASSETS

92,301

36,566

TOTAL ASSETS LESS CURRENT LIABILITIES

172,381

137,547

PROVISIONS FOR LIABILITIES

12,471

15,839

NET ASSETS

159,910

121,708

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

159,810

121,608

SHAREHOLDERS' FUNDS

159,910

121,708

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 18 January 2022 and were signed on its behalf by:

N I T Lunnun - Director

1.	STATUTORY INFORMATION

Lunnun Trading & Sales 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Financial assets and liabilities

Short term debtors are measured at transaction price, less any impairment.

Short term creditors are measured at transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2020

and 31 October 2021

7,000

AMORTISATION

At 1 November 2020

and 31 October 2021

7,000

NET BOOK VALUE

At 31 October 2021

-

At 31 October 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 November 2020

341,237

11,113

44,855

494

397,699

Additions

1,750

3,856

-

566

6,172

At 31 October 2021

342,987

14,969

44,855

1,060

403,871

DEPRECIATION

At 1 November 2020

269,202

9,627

17,509

380

296,718

Charge for year

18,421

1,517

6,835

300

27,073

At 31 October 2021

287,623

11,144

24,344

680

323,791

NET BOOK VALUE

At 31 October 2021

55,364

3,825

20,511

380

80,080

At 31 October 2020

72,035

1,486

27,346

114

100,981

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

21,364

20,672

Other debtors

21,017

17,046

42,381

37,718

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

1,839

-

Taxation and social security

13,939

16,548

Other creditors

46,761

71,058

62,539

87,606

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 November 2020

121,608

Profit for the year

38,202

At 31 October 2021

159,810

10.

COVID 19

The COVID-19 pandemic developed rapidly throughout 2020 and continued in 2021 with the UK government and the devolved administrations of the United Kingdom introducing various measures that have affected economic activity. The company has taken the necessary measures to monitor and mitigate the effects of COVID-19, such as health and safety measures for staff and visitors.

The company will continue to follow government policies and guidelines and to continue operations in the best and safest way possible without endangering the health of the staff.

There has been no impact upon the company's liquidity or ability to continue as a going concern arising from the pandemic.