Lovell Landscapes Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 10000703 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2016 TO 31 MARCH 2017

FOR

LOVELL LANDSCAPES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N J Kellett

N W Kellett

REGISTERED OFFICE:

30-34 North Street

Hailsham

East Sussex

BN27 1DW

REGISTERED NUMBER:

10000703 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Intangible assets

4

8,000

Tangible assets

5

70,472

78,472

CURRENT ASSETS

Stocks

16,444

Debtors

6

434,685

Cash at bank and in hand

6,484

457,613

CREDITORS

Amounts falling due within one year

7

(475,139

)

NET CURRENT LIABILITIES

(17,526

)

TOTAL ASSETS LESS CURRENT LIABILITIES

60,946

CAPITAL AND RESERVES

Called up share capital

8

2

Retained earnings

60,944

SHAREHOLDERS' FUNDS

60,946

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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 3 November 2017 and were signed on its behalf by:

N W Kellett - Director

1.	STATUTORY INFORMATION

Lovell Landscapes 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small

Entities" of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the

UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been

prepared under the historical cost convention, as modified by the recognition of certain assets and

liabilities measured at fair value.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

The company recognises revenue when the significant risks and rewards of ownership have been

transferred to the buyer; the company retains no continuing involvement or control over the goods; the

amount of revenue can be measured reliably; and when it is probable that future economic benefits will

flow to the entity.

In respect of construction contracts and the rendering of services, turnover represents revenue

measured by reference to the stage of completion of the contract activity or of the service transaction

at the end of the reporting period.

Goodwill

Goodwill recognised represents the excess of the fair value and directly attributable costs of the

purchase consideration over the fair values of the identifiable net assets, liabilities and contingent

liabilities acquired.

Goodwill is amortised through the income statement in equal instalments over its estimated useful life

of 5 years. Goodwill is assessed for impairment when there are indicators of impairment and any

impairment is charged to the income statement. Reversals of impairment are recognised when the

reasons for the impairment no longer apply.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated

impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the

asset to its working condition for its intended use, dismantling and restoration costs.

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

useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 20% reducing balance

Motor vehicles - 25% reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of

each reporting period. The effect of any change is accounted for prospectively.

Stocks

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 is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion

and other costs incurred in bringing the inventories to their present location and condition. In respect of

work in progress and finished goods, cost includes a relevant proportion of overheads according to the

stage of manufacture/completion.

Net realisable value is based on estimated selling price less costs to complete and sell.

At the end of each reporting period stocks and work in progress are assessed for impairment. If any

stock or work in progress is impaired, it is reduced to its net realisable value and an impairment charge

is recognised in the income statement. Where a reversal of the impairment is required the impairment

charge is reversed, up to the original impairment loss, and is recognised as a credit in the income

statement.

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. 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 17 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

10,000

At 31 March 2017

10,000

AMORTISATION

Amortisation for period

2,000

At 31 March 2017

2,000

NET BOOK VALUE

At 31 March 2017

8,000

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

Additions

47,474

43,925

91,399

At 31 March 2017

47,474

43,925

91,399

DEPRECIATION

Charge for period

9,043

11,884

20,927

At 31 March 2017

9,043

11,884

20,927

NET BOOK VALUE

At 31 March 2017

38,431

32,041

70,472

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

269,063

Amounts owed by group undertakings

80,352

Other debtors

85,270

434,685

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

150,055

Trade creditors

121,727

Taxation and social security

30,273

Other creditors

173,084

475,139

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary A

£1

1

1

Ordinary B

£1

1

2

The following shares were issued during the period for cash at par :

1 Ordinary A share of £1

1 Ordinary B share of £1