Lantex Manufacturing Company Ltd - Abbreviated accounts 16.1

Lantex Manufacturing Company Ltd - Abbreviated accounts 16.1

LANTEX MANUFACTURING COMPANY LIMITED - Company Information

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REGISTERED NUMBER: 00150264 (England and Wales)












Abbreviated Unaudited Accounts

for the Year Ended 29 February 2016

for

LANTEX MANUFACTURING COMPANY LTD

LANTEX MANUFACTURING COMPANY LTD (REGISTERED NUMBER: 00150264)






Contents of the Abbreviated Accounts
for the Year Ended 29 February 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

LANTEX MANUFACTURING COMPANY LTD

Company Information
for the Year Ended 29 February 2016







DIRECTOR: J T Parker





REGISTERED OFFICE: Oxford Court
Oxford Street
Accrington
Lancashire
BB5 1QX





REGISTERED NUMBER: 00150264 (England and Wales)





ACCOUNTANTS: Haworths Limited
Chartered Accountants
The Old Tannery
Eastgate
Accrington
Lancashire
BB5 6PW
Page 1
LANTEX MANUFACTURING COMPANY LTD (REGISTERED NUMBER: 00150264)

Abbreviated Balance Sheet
29 February 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 212,755 222,829
Investments 3 51,150 50,905
263,905 273,734

CURRENT ASSETS
Stocks 281,636 234,378
Debtors 257,367 245,320
Cash at bank and in hand 1,711 48,611
540,714 528,309
CREDITORS
Amounts falling due within one year 4 348,933 419,686
NET CURRENT ASSETS 191,781 108,623
TOTAL ASSETS LESS CURRENT
LIABILITIES
455,686
382,357

CREDITORS
Amounts falling due after more than one
year
4
(3,766
)
(12,892
)

PROVISIONS FOR LIABILITIES (4,790 ) (5,550 )

ACCRUALS AND DEFERRED INCOME (33,305 ) (37,005 )
NET ASSETS 413,825 326,910

CAPITAL AND RESERVES
Called up share capital 5 13,042 13,042
Share premium 450 450
Capital redemption reserve 500 500
Profit and loss account 399,833 312,918
SHAREHOLDERS' FUNDS 413,825 326,910

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these abbreviated accounts

Page 2 continued...
LANTEX MANUFACTURING COMPANY LTD (REGISTERED NUMBER: 00150264)

Abbreviated Balance Sheet - continued
29 February 2016


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 15 June 2016 and were signed by:





J T Parker - Director


The notes form part of these abbreviated accounts

Page 3
LANTEX MANUFACTURING COMPANY LTD (REGISTERED NUMBER: 00150264)

Notes to the Abbreviated Accounts
for the Year Ended 29 February 2016

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective January 2015).

Preparation of consolidated financial statements
The financial statements contain information about Lantex Manufacturing Company Ltd as an individual
company and do not contain consolidated financial information as the parent of a group. The company has taken
the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of
Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold land and building - Over 20 and 50 years
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or
a right to pay less or to receive more tax.

Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in the period in which
timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet
date.

Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held
separately from those of the company. The annual contributions payable are charged to the profit and loss
account.

Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership
of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed
asset and is depreciated in accordance with the above depreciation policies. Future instalments under such
leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the
finance element, which is charged to the profit and loss account on a straight line basis, and the capital element
which reduces the outstanding obligation for future instalments.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with
the lessor are charged against profits on a straight line basis over the period of the lease.

Government grants
Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate
as the depreciation on the assets to which the grant relates. The deferred element of grant is included in creditors
as deferred income.

Page 4 continued...
LANTEX MANUFACTURING COMPANY LTD (REGISTERED NUMBER: 00150264)

Notes to the Abbreviated Accounts - continued
for the Year Ended 29 February 2016

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 March 2015 399,384
Additions 12,142
At 29 February 2016 411,526
DEPRECIATION
At 1 March 2015 176,555
Charge for year 22,216
At 29 February 2016 198,771
NET BOOK VALUE
At 29 February 2016 212,755
At 28 February 2015 222,829

3. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
At 1 March 2015 50,905
Additions 245
At 29 February 2016 51,150
NET BOOK VALUE
At 29 February 2016 51,150
At 28 February 2015 50,905

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

HTS Print & Design Limited
Nature of business:
%
Class of shares: holding
Ordinary 100.00
30.9.15 30.9.14
£    £   
Aggregate capital and reserves 82 67
Profit for the year 39,615 26,090

Dividends of £40,244 were received from HTS Print & Design Limited during the year.

Page 5 continued...
LANTEX MANUFACTURING COMPANY LTD (REGISTERED NUMBER: 00150264)

Notes to the Abbreviated Accounts - continued
for the Year Ended 29 February 2016

3. FIXED ASSET INVESTMENTS - continued

Associated company

Bamboo Textiles Limited
Nature of business:
%
Class of shares: holding
Ordinary A 45.00
31.5.15 31.5.14
£    £   
Aggregate capital and reserves (808 ) (525 )
Loss for the year (283 ) (5,114 )

4. CREDITORS

Creditors include an amount of £ 67,870 (2015 - £ 39,074 ) for which security has been given.

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
13,042 Ordinary £1 13,042 13,042

Page 6