Landy Tech Limited - Accounts to registrar (filleted) - small 18.2
Landy Tech Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 November 2020 |
| for |
| Landy Tech Limited |
| Landy Tech Limited (Registered number: 11666126) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Landy Tech Limited |
| Company Information |
| for the Year Ended 30 November 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Chester House, Fulham Green |
| 81-83 Fulham High Street |
| London |
| SW6 3JA |
| Landy Tech Limited (Registered number: 11666126) |
| Balance Sheet |
| 30 November 2020 |
| 30.11.20 | 30.11.19 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Prepayments and accrued income |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Other reserves |
| Retained earnings | ( |
) | ( |
) |
| 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. |
| Landy Tech Limited (Registered number: 11666126) |
| Balance Sheet - continued |
| 30 November 2020 |
| 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 |
| Landy Tech Limited (Registered number: 11666126) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2020 |
| 1. | STATUTORY INFORMATION |
| Landy Tech Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover represents net invoiced sales of services, excluding value added tax. |
| Tangible fixed assets |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| Landy Tech Limited (Registered number: 11666126) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Share based payments |
| The fair value of options offered under equity settled share based payment schemes is determined at grant date and expensed in the profit and loss account over the vesting period with a corresponding credit to retained earnings. |
| Where vesting conditions apply, the expense is allocated over the vesting period, based on the best available estimate of the number of share options expected to vest. Non-market vesting conditions are included in assumptions about the number of options that are expected to become exercisable. Estimates are subsequently revised if there is any indication that the number of share options expected to vest differs from previous estimates. Any adjustment to cumulative share-based compensation resulting from a revision is recognised in the current period. The number of vested options ultimately exercised by holders does not impact the expense recorded in any period. Upon exercise of share options, the proceeds received, net of any directly attributable transaction costs, are allocated to share capital up to the nominal value of the shares issued with any difference allocated to the share premium account. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 December 2019 |
| Additions |
| At 30 November 2020 |
| DEPRECIATION |
| At 1 December 2019 |
| Charge for year |
| At 30 November 2020 |
| NET BOOK VALUE |
| At 30 November 2020 |
| At 30 November 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.20 | 30.11.19 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Landy Tech Limited (Registered number: 11666126) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2020 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.20 | 30.11.19 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | FINANCIAL COMMITMENTS |
| Total future commitments under operating lease agreements are: |
| Within one year £83,352 (2019: £77,912) and between one and five years £69,460 (2019: £152,812). |
| 8. | RELATED PARTY DISCLOSURES |
| During the year the company made sales amounting to £173,694 (2019: £157,365) with Landy Partners Limited, a company with the director Benjamin Moute as a majority shareholder. The balance outstanding at the year end included in other debtors is £11,100 (2019: £16,621). This balance is interest free and repayable on demand. |
| During the year the company incurred expenses amounting to £40,500 (2019: £58,500) with Landy Partners Limited. The balance outstanding at the year end included in other creditors is £2,903 (2019: £13,415).This balance is interest free and repayable on demand. |
| 9. | POST BALANCE SHEET EVENTS |
| Other Reserves of £848,935 is funds received in advance of the issue of shares by the company. The shares were issued in the period between the balance sheet date and the date of signing of these accounts. |