Lloyd Anderson Limited - Filleted accounts

Lloyd Anderson Limited - Filleted accounts

LLOYD ANDERSON LIMITED - Company Information

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Registered number
04148283
Lloyd Anderson Limited
Unaudited Filleted Accounts
31 May 2017
Lloyd Anderson Limited
Registered number: 04148283
Balance Sheet
as at 31 May 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 6,157 7,608
Current assets
Debtors 3 65,765 60,645
Creditors: amounts falling due within one year 4 (32,937) (31,022)
Net current assets 32,828 29,623
Net assets 38,985 37,231
Capital and reserves
Called up share capital 100 100
Profit and loss account 38,885 37,131
Shareholders' funds 38,985 37,231
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R A Lloyd
Director
Approved by the board on 27 February 2018
Lloyd Anderson Limited
Notes to the Accounts
for the year ended 31 May 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2016 58,265
At 31 May 2017 58,265
Depreciation
At 1 June 2016 50,657
Charge for the year 1,451
At 31 May 2017 52,108
Net book value
At 31 May 2017 6,157
At 31 May 2016 7,608
3 Debtors 2017 2016
£ £
Other debtors 65,765 60,645
4 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 31,329 33,172
Taxation and social security costs 1,608 (1,098)
Other creditors - (1,052)
32,937 31,022
5 Controlling party
The company is controlled by its director, Mr R A Lloyd.
6 Other information
Lloyd Anderson Limited is a private company limited by shares and incorporated in England. Its registered office is:
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