| Lloyd Anderson Limited |
| Notes to the Accounts |
| for the year ended 31 May 2021 |
|
|
| 1 |
Accounting policies |
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|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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|
Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
over 5 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs. |
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Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. |
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|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
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| 3 |
Tangible fixed assets |
|
|
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|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 June 2020 |
55,714 |
|
At 31 May 2021 |
55,714 |
|
|
|
|
|
|
|
|
|
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Depreciation |
|
At 1 June 2020 |
52,591 |
|
Charge for the year |
781 |
|
At 31 May 2021 |
53,372 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2021 |
2,342 |
|
At 31 May 2020 |
3,123 |
|
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| 4 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Other debtors |
67,392 |
|
67,392 |
|
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| 5 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Bank loans and overdrafts |
16,350 |
|
32,502 |
|
Taxation and social security costs |
2,011 |
|
1,061 |
|
Directors Loan |
12,139 |
|
1,629 |
|
Other creditors |
(1) |
|
- |
|
|
|
|
|
|
30,499 |
|
35,192 |
|
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| 6 |
Controlling party |
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The company is controlled by its director, Mr R A Lloyd. |
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| 7 |
Other information |
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Lloyd Anderson Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
60 Verulam Road |
|
St Albans |
|
Hertfordshire |
|
AL3 4DH |
