Locustworld Developments Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07204439 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Locustworld Developments Limited

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

DIRECTORS:

R Lander

J Hudson

REGISTERED OFFICE:

Endeavour House

78 Stafford Road

Wallington

Surrey

SM6 9AY

REGISTERED NUMBER:

07204439 (England and Wales)

ACCOUNTANTS:

Ascendant Partners Limited

Endeavour House

78 Stafford Road

Wallington

Surrey

SM6 9AY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and

certain other primary statements and the Report of the Directors are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Locustworld Developments Limited for the year ended 31 March 2017 which comprise the

Statement of Comprehensive Income, Statement of Financial Position, and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Locustworld Developments Limited, as a body, in accordance with the terms of our engagement letter dated 22 August 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Locustworld Developments Limited and state those matters that we have agreed to state to the Board of Directors of Locustworld Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Locustworld Developments Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Locustworld Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Locustworld Developments Limited. You consider that Locustworld Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Locustworld Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ascendant Partners Limited

Endeavour House

78 Stafford Road

Wallington

Surrey

SM6 9AY

23 November 2017

CURRENT ASSETS

Debtors

4

80,603

37,932

CREDITORS

Amounts falling due within one year

5

12,637

312

NET CURRENT ASSETS

67,966

37,620

TOTAL ASSETS LESS CURRENT LIABILITIES

67,966

37,620

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

67,965

37,619

SHAREHOLDERS' FUNDS

67,966

37,620

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

The members have not required the company to obtain an audit of its financial statements for the year 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 23 November 2017 and were signed on its behalf by:

R Lander - Director

1.	STATUTORY INFORMATION

Locustworld Developments Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 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.

These financial statements for the year ended 31 March 2017 are the first financial statements that comply with

FRS 102 Section 1A "Small Entities." The date of transition is 1 April 2015. The transition to FRS 102 Section

1A "Small Entities" resulted in no changes to opening equity and profit for the comparative period.

Revenue

Revenue represents income received from group companies for support work and research and development

activities, excluding value added tax.

Taxation

Taxation for the year 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

77,432

37,932

Corporation tax

3,163

-

Social security and other taxes

8

-

80,603

37,932

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

11,187

-

Corporation tax

-

312

Accrued expenses

1,450

-

12,637

312

6.	RELATED PARTY DISCLOSURES

During the year under review the company made sales to Locustworld Limited of £28,000 (2016: £37,931) and

to Locustworld Holdings Limited of £39,500 (2016: £37,931).

At the balance sheet date, the amounts outstanding were as follows:

2017

2016

Due from

Due to

Due from

Due to

£

£

£

£

Locustworld Holdings Limited

77,432

-

37,932

-

Locustworld Limited

-

11,187

-

-

77,432

11,187

37,932

-

7.	ULTIMATE CONTROLLING PARTY

The company is a wholly-owned subsidiary of Locustworld Holdings Limited, which is controlled by R Lander

and J Hudson. Locustworld Holdings Limited registered office address is Endeavour House, 78 Stafford Road,

Wallington, Surrey, SM6 9AY.