LFB Trading Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09970023 (England and Wales)

Unaudited Financial Statements

for the Period 26 January 2016 to 31 January 2017

for

LFB Trading Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J D V Whiteway-Wilkinson

Mrs D Whiteway Wilkinson

REGISTERED OFFICE:

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

REGISTERED NUMBER:

09970023 (England and Wales)

ACCOUNTANTS:

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

FIXED ASSETS

Tangible assets

5

17,188

CURRENT ASSETS

Stocks

28,461

Debtors

6

30,304

Cash at bank and in hand

10,583

69,348

CREDITORS

Amounts falling due within one year

7

212,088

NET CURRENT LIABILITIES

(142,740

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(125,552

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(125,652

)

SHAREHOLDERS' FUNDS

(125,552

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 June 2017 and were signed on its behalf by:

Mr J D V Whiteway-Wilkinson - Director

1.	STATUTORY INFORMATION

LFB Trading Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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

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

Plant and machinery etc

-

20% on cost and 5% 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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

24,261

Disposals

(4,650

)

At 31 January 2017

19,611

DEPRECIATION

Charge for period

2,423

At 31 January 2017

2,423

NET BOOK VALUE

At 31 January 2017

17,188

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

22,008

Other debtors

8,296

30,304

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

61,944

Taxation and social security

13,094

Other creditors

137,050

212,088

8.	TRANSACTIONS WITH DIRECTORS

At the balance sheet date the company owed Mr J D V Whiteway-Wilkinson £32,400 and Mrs D

Whiteway-Wilkinson £3,413.

9.	RELATED PARTY DISCLOSURES

During the year, the company purchases assets and goodwill totalling £57,509 from London Fields Crafts

Products Ltd.

At the balance sheet date the company was owed/(owed) the following sums to connected entities:

2017

£

LFB Brewhouse Ltd

(28,174

)

LF Brewery Ltd

(11,347

)

London Fields Farmers Gate Ltd

(5,254

)

London Fields Crafts Products Ltd

(£53,787

)

During the year the company undertook the following transactions with these connected entities:

2017

£

Management charges incurred from LFB Brewhouse Ltd

£56,828

Rent paid to London Fields Farmers Gate Ltd

£32,032

Rent of brewery equipment paid to LF Brewery Ltd

£20,000

London Fields Crafts Products Ltd is under the control of a close family member, Julian Whiteway-Wilkinson.

All other companies are under common control.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr J D V Whiteway-Wilkinson.