LRA Labsoil Limited - Accounts to registrar (filleted) - small 18.2

LRA Labsoil Limited - Accounts to registrar (filleted) - small 18.2

LRA LABSOIL LIMITED - Company Information

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REGISTERED NUMBER: 08812006 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 December 2020

for

LRA Labsoil Limited
LRA Labsoil Limited (Registered number: 08812006)






Contents of the Financial Statements
for the Year Ended 31 December 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LRA Labsoil Limited

Company Information
for the Year Ended 31 December 2020







DIRECTORS: M J Reeve
Mrs M A Miles-Reeve





REGISTERED OFFICE: The Mills
Canal Street
Derby
DE1 2RJ





REGISTERED NUMBER: 08812006 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ
Page 1
LRA Labsoil Limited (Registered number: 08812006)

Balance Sheet
31 December 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,638 9,627

CURRENT ASSETS
Stocks 1,300 500
Debtors 5 11,846 76,399
Cash at bank and in hand 197,896 99,888
211,042 176,787
CREDITORS
Amounts falling due within one year 6 45,125 61,869
NET CURRENT ASSETS 165,917 114,918
TOTAL ASSETS LESS CURRENT
LIABILITIES
173,555
124,545

CAPITAL AND RESERVES
Called up share capital 18 18
Retained earnings 173,537 124,527
SHAREHOLDERS' FUNDS 173,555 124,545

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2021 and were signed on its behalf by:





M J Reeve - Director


The notes form part of these financial statements

Page 2
LRA Labsoil Limited (Registered number: 08812006)

Notes to the Financial Statements
for the Year Ended 31 December 2020

1. STATUTORY INFORMATION

LRA Labsoil Limited 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.

Turnover
Turnover represents net invoiced charges for services, excluding value added tax, including where applicable, relevant costs and overheads plus attributable profit to date recoverable on contracts. Turnover is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the agreed upon payment will be received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account as incurred.

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 which they relate.

Government grants
Revenue grants are recognised in the profit and loss account so as to match them to the expenditure towards which they are intended to contribute.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

Page 3 continued...
LRA Labsoil Limited (Registered number: 08812006)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2020 1,834 16,831 2,055 20,720
Additions - - 207 207
At 31 December 2020 1,834 16,831 2,262 20,927
DEPRECIATION
At 1 January 2020 1,221 8,213 1,659 11,093
Charge for year 123 1,724 349 2,196
At 31 December 2020 1,344 9,937 2,008 13,289
NET BOOK VALUE
At 31 December 2020 490 6,894 254 7,638
At 31 December 2019 613 8,618 396 9,627

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 10,521 75,481
Other debtors 585 213
Prepayments 740 705
11,846 76,399

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 735 13,259
Tax 20,178 18,760
Social security and other taxes 15,669 17,383
Other creditors 6,733 10,787
Accrued expenses 1,810 1,680
45,125 61,869

Page 4