Loughglynn Limited - Filleted accounts

LOUGHGLYNN LIMITED - Company Information

Loughglynn Limited
Registered number:		08468862
Balance Sheet
as at 31 March 2018

Notes			2018			2017
£				£
Fixed assets
Intangible assets	2		3,267			9,100
Tangible assets	3		308			732
			3,575			9,832

Current assets
Debtors	4	34,796			14,951
Cash at bank and in hand		3,621			24,145
		38,417			39,096

Creditors: amounts falling due within one year	5	(40,715)			(49,514)

Net current liabilities			(2,298)			(10,418)

Net assets/(liabilities)			1,277			(586)

Capital and reserves
Called up share capital			100			100
Profit and loss account			1,177			(686)

Shareholders' funds			1,277			(586)

The directors are 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 directors acknowledge their 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.




A Mee
Director
Approved by the board on 11 November 2018

Loughglynn Limited
Notes to the Accounts
for the year ended 31 March 2018


1	Accounting policies

	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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.


2	Intangible fixed assets			£
	Goodwill:

	Cost
	At 1 April 2017			21,000
	Disposals			(17,733)
	At 31 March 2018			3,267

	Amortisation
	At 1 April 2017			11,900
	Provided during the year			1,050
	On disposals			(12,950)
	At 31 March 2018			-

	Net book value
	At 31 March 2018			3,267
	At 31 March 2017			9,100

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


3	Tangible fixed assets
				Plant and machinery etc
£
	Cost
	At 1 April 2017			3,300
	At 31 March 2018			3,300

	Depreciation
	At 1 April 2017			2,568
	Charge for the year			424
	At 31 March 2018			2,992

	Net book value
	At 31 March 2018			308
	At 31 March 2017			732




4	Debtors	2018		2017
£			£

	Trade debtors	34,796		14,951


5	Creditors: amounts falling due within one year	2018		2017
£			£

	Trade creditors	1,130		414
	Corporation tax	10,655		12,661
	Other taxes and social security costs	7,910		2,143
	Other creditors	21,020		34,296
		40,715		49,514


6	Other information

	Loughglynn Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Lough Lynn
	Bunstrux
	Tring
	Hertfordshire
	HP23 4HT

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