Lowndes Square One Rtm Company Limited - Limited company accounts 20.1
Lowndes Square One Rtm Company Limited - Limited company accounts 20.1
| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2021 |
| for |
| LOWNDES SQUARE ONE RTM COMPANY LIMITED |
| LOWNDES SQUARE ONE RTM COMPANY LIMITED (REGISTERED NUMBER: 04959043) |
| Contents of the Financial Statements |
| for the year ended 31 December 2021 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Chartered Accountants' Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5 |
| Statement of Changes in Equity | 6 |
| Notes to the Financial Statements | 7 |
| LOWNDES SQUARE ONE RTM COMPANY LIMITED |
| Company Information |
| for the year ended 31 December 2021 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| 1st Floor Upminster Library |
| 26 Corbets Tey Road |
| Upminster |
| Essex |
| RM14 2BB |
| LOWNDES SQUARE ONE RTM COMPANY LIMITED (REGISTERED NUMBER: 04959043) |
| Report of the Directors |
| for the year ended 31 December 2021 |
| The directors present their report with the financial statements of the company for the year ended 31 December 2021. |
| Principal activity |
| The principal activity of the company in the year under review was that of |
| Directors |
| The directors shown below have held office during the whole of the period from 1 January 2021 to the date of this report. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| On behalf of the board: |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Lowndes Square One Rtm Company Limited |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lowndes Square One Rtm Company Limited for the year ended 31 December 2021 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Lowndes Square One Rtm Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lowndes Square One Rtm Company Limited and state those matters that we have agreed to state to the Board of Directors of Lowndes Square One Rtm Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lowndes Square One Rtm Company Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Lowndes Square One Rtm Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lowndes Square One Rtm Company Limited. You consider that Lowndes Square One Rtm Company 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 financial statements of Lowndes Square One Rtm Company 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 financial statements. |
| 1st Floor Upminster Library |
| 26 Corbets Tey Road |
| Upminster |
| Essex |
| RM14 2BB |
| LOWNDES SQUARE ONE RTM COMPANY LIMITED (REGISTERED NUMBER: 04959043) |
| Profit and Loss Account |
| for the year ended 31 December 2021 |
| 2021 | 2020 |
| £ | £ |
| Turnover |
| Cost of sales | ( |
) | ( |
) |
| Gross profit |
| Administrative expenses | ( |
) | ( |
) |
| Operating profit |
| Interest receivable and similar income |
| Profit before taxation |
| Tax on profit | ( |
) | ( |
) |
| Profit for the financial year |
| LOWNDES SQUARE ONE RTM COMPANY LIMITED (REGISTERED NUMBER: 04959043) |
| Balance Sheet |
| 31 December 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Debtors | 5 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current assets/(liabilities) | ( |
) |
| Total assets less current liabilities | ( |
) |
| Reserves |
| Reserve fund |
| Retained earnings | ( |
) | ( |
) |
| ( |
) |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| LOWNDES SQUARE ONE RTM COMPANY LIMITED (REGISTERED NUMBER: 04959043) |
| Statement of Changes in Equity |
| for the year ended 31 December 2021 |
| Retained | Reserve | Total |
| earnings | fund | equity |
| £ | £ | £ |
| Balance at 1 January 2020 | ( |
) | ( |
) |
| Changes in equity |
| Profit for the year | 77,844 | - | 77,844 |
| Total comprehensive income |
| Reserve fund transfer | (35,135 | ) | 35,135 | - |
| Balance at 31 December 2020 | ( |
) | ( |
) |
| Changes in equity |
| Profit for the year | 67,121 | - | 67,121 |
| Total comprehensive income |
| Reserve fund transfer | (28,898 | ) | 28,898 | - |
| Balance at 31 December 2021 | ( |
) |
| LOWNDES SQUARE ONE RTM COMPANY LIMITED (REGISTERED NUMBER: 04959043) |
| Notes to the Financial Statements |
| for the year ended 31 December 2021 |
| 1. | Statutory information |
| Lowndes Square One Rtm Company Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Key source of estimation, uncertainty and judgement |
| The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
| There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
| There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of. |
| There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| LOWNDES SQUARE ONE RTM COMPANY LIMITED (REGISTERED NUMBER: 04959043) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2021 |
| 2. | Accounting policies - continued |
| Financial instruments |
| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
| Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
| Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
| Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 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. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| LOWNDES SQUARE ONE RTM COMPANY LIMITED (REGISTERED NUMBER: 04959043) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2021 |
| 4. | Tangible fixed assets |
| Fixtures |
| and |
| fittings |
| £ |
| Cost |
| At 1 January 2021 |
| Additions |
| At 31 December 2021 |
| Depreciation |
| At 1 January 2021 |
| Charge for year |
| At 31 December 2021 |
| Net book value |
| At 31 December 2021 |
| At 31 December 2020 |
| 5. | Debtors: amounts falling due within one year |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | Creditors: amounts falling due within one year |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |