Lomas Kington Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03019523 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MAY 2017

FOR

LOMAS KINGTON LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Directors:

P Rajani

S Ghelani

Registered office:

3rd Floor, Bank House

7 St John's Road

Harrow

Middlesex

HA1 2EY

Registered number:

03019523 (England and Wales)

Fixed assets

Tangible assets

4

298,767

17,786

Current assets

Stocks

5

64,224

68,176

Debtors

6

79,079

181,333

Cash at bank and in hand

25,957

174,225

169,260

423,734

Creditors

Amounts falling due within one year

7

(195,439

)

(164,507

)

Net current (liabilities)/assets

(26,179

)

259,227

Total assets less current liabilities

272,588

277,013

Capital and reserves

Called up share capital

2

2

Retained earnings

272,586

277,011

Shareholders' funds

272,588

277,013

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Profit and loss statement has not been delivered.

The financial statements were approved by the Board of Directors on 14 February 2018 and were signed on its behalf by:

P Rajani - Director

1.	Statutory information

Lomas Kington 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.

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

-

33% on reducing balance and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The company has entered into basic financial instruments and transactions that result in the recognition of financial

assets and liabilities like other debtors, creditors and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is fund, an impairment loss is recognised in

the profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 16 (2016 - 16 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

COST

At 1 June 2016

183,870

Additions

314,109

Disposals

(181,720

)

At 31 May 2017

316,259

DEPRECIATION

At 1 June 2016

166,084

Charge for year

16,954

Eliminated on disposal

(165,546

)

At 31 May 2017

17,492

NET BOOK VALUE

At 31 May 2017

298,767

At 31 May 2016

17,786

5.

Stocks

31.5.17

31.5.16

£

£

Finished goods

64,224

68,176

6.

Debtors: amounts falling due within one year

31.5.17

31.5.16

£

£

Trade debtors

15,297

126,889

Other debtors

63,782

54,444

79,079

181,333

7.

Creditors: amounts falling due within one year

31.5.17

31.5.16

£

£

Trade creditors

57,033

88,999

Taxation and social security

11,127

19,433

Other creditors

127,279

56,075

195,439

164,507

8.	Related party disclosures

The company pays rent at £17,000 (2016: £27,000) per annum for the premises it occupies, to Silverbrook Estates

Limited which is related by virtue of the fact that both companies have common directors.