Lcm Lynott Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06244924 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017

FOR

LCM LYNOTT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L C M Lynott

Mrs N Lynott

SECRETARY:

Mrs N Lynott

REGISTERED OFFICE:

23-25 Hollybush House

Bond Gate

Nuneaton

Warwickshire

CV11 4AR

REGISTERED NUMBER:

06244924 (England and Wales)

ACCOUNTANTS:

Ades Askews

23-25 Hollybush House

Bond Gate

Nuneaton

Warwickshire

CV11 4AR

FIXED ASSETS

Tangible assets

4

17,697

23,596

CURRENT ASSETS

Debtors

5

329,686

420,999

Cash at bank

281,717

267,159

611,403

688,158

CREDITORS

Amounts falling due within one year

6

66,751

125,024

NET CURRENT ASSETS

544,652

563,134

TOTAL ASSETS LESS CURRENT LIABILITIES

562,349

586,730

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

562,346

586,727

SHAREHOLDERS' FUNDS

562,349

586,730

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 February 2018 and were signed on its behalf by:

L C M Lynott - Director

1.	STATUTORY INFORMATION

Lcm Lynott 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.

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.

Motor vehicles

-

25% on reducing balance

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 balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 June 2016

and 31 May 2017

46,000

DEPRECIATION

At 1 June 2016

22,404

Charge for year

5,899

At 31 May 2017

28,303

NET BOOK VALUE

At 31 May 2017

17,697

At 31 May 2016

23,596

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

1,500

1,500

Social security and other tax

131,769

203,906

Other Debtors - Loan

62,019

72,983

Directors' current accounts

134,398

142,610

329,686

420,999

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

17,142

-

Tax

22,073

106,774

Wages control account

(1,316

)

(916

)

VAT

24,177

14,616

Accrued expenses

4,675

4,550

66,751

125,024

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors of the company have an overdrawn loan account amounting to £134,398 (2016: £142,610). Interest

will not be charged on the balance.

This will be repaid within 9 months of the year end.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £100,000 were paid to the directors .

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors of the company who own 100% of the issued share capital.