Company Registration No. 07255148 (England and Wales)
Lindsay of Liphook Ltd
Unaudited accounts
for the year ended 31 May 2017
Lindsay of Liphook Ltd
Unaudited accounts
Contents
Lindsay of Liphook Ltd
Company Information
for the year ended 31 May 2017
Secretary
Clint William Trigg
Company Number
07255148 (England and Wales)
Registered Office
18 Liss Business Centre
Station Road
Liss
Hampshire
GU33 7AW
Accountants
Mad About Book-Keeping
The Parade
Petersfield Road
Whitehill
Hampshire
GU35 9AR
Lindsay of Liphook Ltd
Statement of financial position
as at 31 May 2017
Tangible assets
26,040
11,484
Cash at bank and in hand
9,289
5,658
Creditors: amounts falling due within one year
(17,872)
(16,569)
Net current assets
11,492
1,737
Total assets less current liabilities
37,532
13,221
Provisions for liabilities
Deferred tax
(5,208)
(2,297)
Called up share capital
100
100
Profit and loss account
32,224
10,824
Shareholders' funds
32,324
10,924
For the year ending 31 May 2017 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.
Approved by the Board on 15 August 2017.
Joanne Lindsay
Director
Company Registration No. 07255148
Lindsay of Liphook Ltd
Notes to the Accounts
for the year ended 31 May 2017
Lindsay of Liphook Ltd is a private company, limited by shares, registered in England and Wales, registration number 07255148. The registered office and principal place of business is 18 Liss Business Centre, Station Road, Liss, Hampshire, GU33 7AW.
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.
These financial statements for the year ended 31 May 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight line
Computer equipment
33% Straight line
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Lindsay of Liphook Ltd
Notes to the Accounts
for the year ended 31 May 2017
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2016
16,090
724
16,814
Additions
18,993
927
19,920
Disposals
(4,090)
-
(4,090)
At 31 May 2017
30,993
1,651
32,644
At 1 June 2016
5,290
40
5,330
Charge for the year
4,919
445
5,364
On disposals
(4,090)
-
(4,090)
At 31 May 2017
6,119
485
6,604
At 31 May 2017
24,874
1,166
26,040
At 31 May 2016
10,800
684
11,484
Finished goods
14,454
5,871
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
-
520
Trade creditors
8,990
10,825
Taxes and social security
8,900
4,558
Loans from directors
(18)
21
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
The company is wholly owned and controlled by Joanne Lindsay
Lindsay of Liphook Ltd
Notes to the Accounts
for the year ended 31 May 2017
10
Average number of employees
During the year the average number of employees was 1 (2016: 1).
