Land & Marine Trimmers Limited - Accounts to registrar (filleted) - small 18.2
Land & Marine Trimmers Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| LAND & MARINE TRIMMERS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 |
| LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| LAND & MARINE TRIMMERS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817) |
| BALANCE SHEET |
| 31 OCTOBER 2021 |
| 31.10.21 | 31.10.20 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| 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 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2021 |
| 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 |
| LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| 1. | STATUTORY INFORMATION |
| Land & Marine Trimmers Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
| Sale of goods |
| Turnover from the sale of specialist upholstery and trimmings is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Government grants |
| Government Grants in respect of Covid-19 received as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs are recognised as income in the period in which the grant becomes receivable using the accruals model. |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Tax |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. |
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
| Leases |
| Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
| Employee benefits |
| When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
| The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 November 2020 |
| Additions |
| At 31 October 2021 |
| DEPRECIATION |
| At 1 November 2020 |
| Charge for year |
| At 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| At 31 October 2020 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| Additions |
| At 31 October 2021 |
| DEPRECIATION |
| Charge for year |
| At 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| 5. | STOCKS |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Stocks |
| LAND & MARINE TRIMMERS LIMITED (REGISTERED NUMBER: SC333817) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Tax |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Pension control |
| VAT |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Hire purchase contracts |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.10.21 | 31.10.20 |
| value: | £ | £ |
| Ordinary | 1 | 100 | 100 |
| Ordinary A-J | 3 | 3 | 3 |
| 103 | 103 |
| 10. | OTHER FINANCIAL COMMITMENTS |
| Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £45,865. |