RC Lens Duet London Limited Filleted accounts for Companies House (small and micro)

RC LENS DUET LONDON LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10910459

RC Lens Duet London Limited

Filleted Unaudited Financial Statements

31 August 2021

RC Lens Duet London Limited

Statement of Financial Position

31 August 2021

	2021	2020
Note	£	£

Fixed assets

Tangible assets	5	4,427	4,125

Current assets

Debtors	6	22,023	24,098
Cash at bank and in hand		27,156	–
		--------	--------
		49,179	24,098

Creditors: amounts falling due within one year	7	70,708	95,988
		--------	--------
Net current liabilities		21,529	71,890
		--------	--------
Total assets less current liabilities		( 17,102)	( 67,765)

Creditors: amounts falling due after more than one year	8	149,967	149,967
		---------	---------
Net liabilities		( 167,069)	( 217,732)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 167,169)	( 217,832)
	---------	---------
Shareholders deficit	( 167,069)	( 217,732)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

RC Lens Duet London Limited

Statement of Financial Position (continued)

31 August 2021

These financial statements were approved by the board of directors and authorised for issue on 15 March 2022 , and are signed on behalf of the board by:

Mr D Wilson

Director

Company registration number: 10910459

RC Lens Duet London Limited

Notes to the Financial Statements

Year ended 31 August 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Flat 1,, Mayfield Mansions, 94 West Hill, London, SW15 2YB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

In the opinion of the directors, continued financial support will be available such that the company can continue trading and meet it's liabilities as they fall due. Based on this, the directors consider it appropriate that the financial statements are prepared on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	25% straight line
Equipment	-	25 % straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2020: 3 ).

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 September 2020	11,000	–	11,000
Additions	–	4,069	4,069
	--------	-------	--------
At 31 August 2021	11,000	4,069	15,069
	--------	-------	--------
Depreciation
At 1 September 2020	6,875	–	6,875
Charge for the year	2,750	1,017	3,767
	--------	-------	--------
At 31 August 2021	9,625	1,017	10,642
	--------	-------	--------
Carrying amount
At 31 August 2021	1,375	3,052	4,427
	--------	-------	--------
At 31 August 2020	4,125	–	4,125
	--------	-------	--------

6. Debtors

	2021	2020
	£	£
Other debtors	22,023	24,098
	--------	--------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	–	12,596
Trade creditors	–	550
Social security and other taxes	59,689	66,038
Other creditors	11,019	16,804
	--------	--------
	70,708	95,988
	--------	--------

8. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Racing Club de Lens	149,967	149,967
	---------	---------

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2021
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr D Wilson	–	–	–
	----	----	----

	2020
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr D Wilson	3,887	( 3,887)	–
	-------	-------	----