Lantrade Global Supplies Limited

Lantrade Global Supplies Limited

LANTRADE GLOBAL SUPPLIES LIMITED - Company Information

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Company Registration No. 03028038 (England and Wales)
Lantrade Global Supplies Limited Unaudited accounts for the year ended 31 May 2021
Lantrade Global Supplies Limited Unaudited accounts Contents
Page
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Lantrade Global Supplies Limited Company Information for the year ended 31 May 2021
Director
Mrs Lynda Ann Nye-Rashkova
Company Number
03028038 (England and Wales)
Registered Office
Daniel Consultancy Morritt House 54-60 Station Approach South Ruislip HA4 6SA United Kingdom
Accountants
Daniel Consultancy Morritt House 54-60 Station Approach South Ruislip Ruislip HA4 6SA
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Lantrade Global Supplies Limited Accountants' report
Accountants' report to the director of Lantrade Global Supplies Limited on the preparation of the unaudited statutory accounts for the year ended 31 May 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lantrade Global Supplies Limited for the year ended 31 May 2021 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Lantrade Global Supplies Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Lantrade Global Supplies Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lantrade Global Supplies Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Lantrade Global Supplies Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Lantrade Global Supplies Limited. You consider that Lantrade Global Supplies Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Lantrade Global Supplies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Daniel Consultancy Morritt House 54-60 Station Approach South Ruislip Ruislip HA4 6SA 15 March 2022
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Lantrade Global Supplies Limited Statement of financial position as at 31 May 2021
2021 
2020 
Notes
£ 
£ 
Current assets
Debtors
5
85,447 
85,751 
Cash at bank and in hand
47,809 
8,818 
133,256 
94,569 
Creditors: amounts falling due within one year
6
(215,269)
(217,568)
Net current liabilities
(82,013)
(122,999)
Total assets less current liabilities
(82,013)
(122,999)
Creditors: amounts falling due after more than one year
7
(50,000)
- 
Net liabilities
(132,013)
(122,999)
Capital and reserves
Called up share capital
303,750 
303,750 
Share premium
1,352,952 
1,352,952 
Profit and loss account
(1,788,715)
(1,779,701)
Shareholders' funds
(132,013)
(122,999)
For the year ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 March 2022 and were signed on its behalf by
Mrs Lynda Ann Nye-Rashkova Director Company Registration No. 03028038
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Lantrade Global Supplies Limited Notes to the Accounts for the year ended 31 May 2021
1
Statutory information
Lantrade Global Supplies Limited is a private company, limited by shares, registered in England and Wales, registration number 03028038. The registered office is Daniel Consultancy , Morritt House 54-60 Station Approach, South Ruislip, HA4 6SA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Investments in subsidiaries
Investments in subsidiary undertakings are recognized at cost less any provision for impairment.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Lantrade Global Supplies Limited Notes to the Accounts for the year ended 31 May 2021
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2020
1,176 
At 31 May 2021
1,176 
Depreciation
At 1 June 2020
1,176 
At 31 May 2021
1,176 
Net book value
At 31 May 2021
- 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Amounts due from group undertakings etc.
85,447 
85,447 
Deferred tax asset
- 
304 
85,447 
85,751 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade creditors
2,257 
- 
Other creditors
145,577 
145,577 
Loans from directors
66,715 
66,715 
Accruals
720 
5,276 
215,269 
217,568 
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
50,000 
- 
8
Deferred taxation
2021 
2020 
£ 
£ 
Accelerated capital allowances
- 
(304)
2021 
2020 
£ 
£ 
Provision at start of year
(304)
(340)
Charged to the profit and loss account
304 
36 
Provision at end of year
- 
(304)
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Lantrade Global Supplies Limited Notes to the Accounts for the year ended 31 May 2021
9
Transactions with related parties
Associated company balances written off for £5,562 (2020 - -£80,337) during the year.
10
Average number of employees
During the year the average number of employees was 0 (2020: 0).
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