Loarton Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10446967 (England and Wales)

Unaudited Financial Statements

for the Period

26th October 2016 to 31st October 2017

for

Loarton Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K L Boulton

T Boulton

REGISTERED OFFICE:

Orchard House

Kings Furlong Drive

Basingstoke

Hampshire

RG21 8YE

REGISTERED NUMBER:

10446967 (England and Wales)

ACCOUNTANTS:

Wheeler & Co Ltd

Chartered Accountants

The Shrubbery

14 Church Street

Whitchurch

Hampshire

RG28 7AB

FIXED ASSETS

Tangible assets

4

235

CURRENT ASSETS

Stocks

11,844

Debtors

5

5,702

Cash at bank

15,105

32,651

CREDITORS

Amounts falling due within one year

6

28,317

NET CURRENT ASSETS

4,334

TOTAL ASSETS LESS CURRENT LIABILITIES

4,569

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

4,469

4,569

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st October 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 24th January 2018 and were signed on its behalf by:

K L Boulton - Director

1.	STATUTORY INFORMATION

Loarton 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 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.

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

-

50% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

469

At 31st October 2017

469

DEPRECIATION

Charge for period

234

At 31st October 2017

234

NET BOOK VALUE

At 31st October 2017

235

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

5,702

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Tax

5,866

VAT

3,088

Directors' current accounts

18,343

Accrued expenses

1,020

28,317

7.	RELATED PARTY DISCLOSURES

During the period, total dividends of £20,000 were paid to the directors .