Lloyd & Lloyd Associates Limited - Period Ending 2017-05-31

Registration number: 08061855

Lloyd & Lloyd Associates Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2017

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

Lloyd & Lloyd Associates Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 7

Lloyd & Lloyd Associates Limited

Company Information

Directors	Mr J D Lloyd Mrs L J Lloyd

Registered office

The Old Vicarage 51 St John Street Ashbourne Derbyshire DE6 1GP

Accountants

Coates and Partners Limited Chartered Accountants The Old Vicarage 51 St John Street Ashbourne Derbyshire DE6 1GP

Page 1

Lloyd & Lloyd Associates Limited

(Registration number: 08061855)
Balance Sheet as at 31 May 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	697	1,144
Current assets
Debtors	5	13,822	6,478
Cash at bank and in hand		142,649	76,112
		156,471	82,590
Creditors: Amounts falling due within one year	6	(116,492)	(51,203)
Net current assets		39,979	31,387
Net assets		40,676	32,531
Capital and reserves
Allotted, called up and fully paid share capital		100	100
Profit and loss account		40,576	32,431
		40,676	32,531
Total equity		40,676	32,531

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered to the Registrar of Companies in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors' report has been taken.

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 2

Lloyd & Lloyd Associates Limited

(Registration number: 08061855)
Balance Sheet as at 31 May 2017

Approved and authorised by the Board on 16 October 2017 and signed on its behalf by:
 

......................................... Mr J D Lloyd Director

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Lloyd & Lloyd Associates Limited

Notes to the Financial Statements for the Year Ended 31 May 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 08061855.

The address of its registered office is:
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

The principal place of business is:
15 Summerville Close
Littleover
Derby
Derbyshire
DE23 3UU
United Kingdom

These financial statements were authorised for issue by the Board on 16 October 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Page 4

Lloyd & Lloyd Associates Limited

Notes to the Financial Statements for the Year Ended 31 May 2017

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	33% straight line basis

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2016 - 2).

Page 5

Lloyd & Lloyd Associates Limited

Notes to the Financial Statements for the Year Ended 31 May 2017

4	Tangible assets

	Plant and machinery  £	Total £
Cost or valuation
At 1 June 2016	3,154	3,154
Disposals	(970)	(970)
At 31 May 2017	2,184	2,184
Depreciation
At 1 June 2016	2,010	2,010
Charge for the year	447	447
Eliminated on disposal	(970)	(970)
At 31 May 2017	1,487	1,487
Carrying amount
At 31 May 2017	697	697
At 31 May 2016	1,144	1,144

5

Debtors

	2017 £	2016 £
Trade debtors	-	6,270
Prepayments	195	208
Other debtors	13,627	-
	13,822	6,478

Page 6

Lloyd & Lloyd Associates Limited

Notes to the Financial Statements for the Year Ended 31 May 2017

6

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Bank loans and overdrafts	7	93,719	44,716
Trade creditors		1,344	-
Taxation and social security		19,493	4,815
Accruals and deferred income		1,333	1,525
Other creditors		603	147
		116,492	51,203

7	Loans and borrowings

	2017 £	2016 £
Current loans and borrowings
Director loans	93,719	44,716

8	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2017 £	2016 £
Remuneration	16,053	17,340

9	Transition to FRS 102

There were no transition adjustments to be made.

Page 7