Larsen Howie Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09887741 (England and Wales)

Financial Statements

for the Period 1 February 2020 to 31 December 2020

for

Larsen Howie Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J D R Twining

M A Castellucci

G McKernan

R A Styring

REGISTERED OFFICE:

9 Miller Court

Severn Drive

Tewkesbury Business Park

Tewkesbury

Gloucestershire

GL20 8DN

REGISTERED NUMBER:

09887741 (England and Wales)

SENIOR STATUTORY AUDITOR:

Charles Hinitt FCCA

AUDITORS:

Charles Hinitt & Associates Limited

Chartered Certified Accountants &

Statutory Auditors

48 Belle Vue Terrace

Malvern

Worcestershire

WR14 4QG

FIXED ASSETS

Intangible assets

4

16,623

27,702

Tangible assets

5

13,302

20,693

29,925

48,395

CURRENT ASSETS

Debtors

3,772

46,715

Cash at bank

27,620

52,937

31,392

99,652

CREDITORS

Amounts falling due within one year

79,502

54,904

NET CURRENT (LIABILITIES)/ASSETS

(48,110

)

44,748

TOTAL ASSETS LESS CURRENT LIABILITIES

(18,185

)

93,143

CAPITAL AND RESERVES

Called up share capital

1,116,500

866,500

Retained earnings

(1,134,685

)

(773,357

)

(18,185

)

93,143

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 December 2021 and were signed on its behalf by:

J D R Twining - Director

1.	STATUTORY INFORMATION

Larsen Howie 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 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.

Development costs are being amortised evenly over their estimated useful life of nil years.

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 etc

-

33% on cost and 20% on cost

Taxation

Taxation for the period 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.

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.

Going concern

The Directors are required to prepare the statutory financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. In satisfaction of this responsibility the Directors have also considered the Company’s ability to meet its liabilities as they fall due.

The Directors have also paid special attention to the recent COVID-19 outbreak and the potential associated impact on the Company.

The Directors have therefore reviewed the current and future financial position of the Company, its cash flows, and its liquidity position, specifically in respect of the above and the potential disruption to the business arising from a prolonged period of economic downturn, and any impact that this may have on the future of the industry both on the markets specifically targeted by the company and the industry as a whole.

Although it is not possible to reliably forecast the length or severity of the COVID-19 outbreak, at the date of approval of the financial statements, the Directors were confident that the existing reserves and support from within the White Mountains Insurance Group together with external facilities will provide sufficient headroom to meet the forecast cash requirements that may have arisen from a downturn in activity as a result of the COVID-19 pandemic.

As such, the Directors consider that it is appropriate to prepare the financial statements on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2020 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2020

and 31 December 2020

62,160

AMORTISATION

At 1 February 2020

34,458

Amortisation for period

11,079

At 31 December 2020

45,537

NET BOOK VALUE

At 31 December 2020

16,623

At 31 January 2020

27,702

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2020

34,706

Additions

351

At 31 December 2020

35,057

DEPRECIATION

At 1 February 2020

14,013

Charge for period

7,742

At 31 December 2020

21,755

NET BOOK VALUE

At 31 December 2020

13,302

At 31 January 2020

20,693

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Charles Hinitt FCCA (Senior Statutory Auditor)

for and on behalf of Charles Hinitt & Associates Limited

7.	RELATED PARTY DISCLOSURES

Intercompany - Larsen Howie Group Limited

The immediate parent company owning 100% of Larsen Howie Limited.

At the balance sheet date Larsen Howie Limited owed £61,657 to Larsen Howie Group Limited (31.01.20 : £19,852) which was included in Amounts Owed to Group Undertakings under the heading Creditors Due Within One Year.

The loan carried no liability to interest and is repayable on demand.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Larsen Howie Group Limited.

The ultimate controlling party is White Mountains Insurance Group Limited, Hanover, New Hampshire, USA.