Lavender Hill Garage Enfield Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05928521 (England and Wales)

Abridged Unaudited Financial Statements

For The Year Ended 30 November 2017

for

Lavender Hill Garage Enfield Ltd

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

D J Medcalf

SECRETARY:

Ms C J Medcalf

REGISTERED OFFICE:

78 The Ridgeway

Enfield

Middlesex

EN2 8JF

REGISTERED NUMBER:

05928521 (England and Wales)

ACCOUNTANTS:

Lee Christian & Co Ltd

Chartered Certified Accountants

161 Lancaster Road

Enfield

Middlesex

EN2 0JN

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Lavender Hill Garage Enfield Ltd for the year ended 30 November 2017 which comprise the

Abridged Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Lavender Hill Garage Enfield Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lavender Hill Garage Enfield Ltd and state those matters that we have agreed to state to the director of Lavender Hill Garage Enfield Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Lavender Hill Garage Enfield Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lavender Hill Garage Enfield Ltd. You consider that Lavender Hill Garage Enfield Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lavender Hill Garage Enfield Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lee Christian & Co Ltd

Chartered Certified Accountants

161 Lancaster Road

Enfield

Middlesex

EN2 0JN

9 November 2018

FIXED ASSETS

Intangible assets

5

225

250

Tangible assets

6

38,177

17,971

38,402

18,221

CURRENT ASSETS

Stocks

85,722

106,156

Debtors

38,129

46,280

Cash at bank and in hand

166,222

164,500

290,073

316,936

CREDITORS

Amounts falling due within one year

150,142

148,473

NET CURRENT ASSETS

139,931

168,463

TOTAL ASSETS LESS CURRENT LIABILITIES

178,333

186,684

PROVISIONS FOR LIABILITIES

7,250

3,431

NET ASSETS

171,083

183,253

CAPITAL AND RESERVES

Called up share capital

1,100

1,100

Retained earnings

169,983

182,153

SHAREHOLDERS' FUNDS

171,083

183,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 30 November 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 9 November 2018 and were signed by:

D J Medcalf - Director

1.	STATUTORY INFORMATION

Lavender Hill Garage Enfield 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 November 2017 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the

date of transition to FRS 102 Section 1A is 1 December 2015.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and

the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or

receivable and represents amounts receivable for goods sold and services rendered stated net of discounts, other

sales taxes and value added tax.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the

company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired

business.

Goodwill is being amortised on a straight-line basis over its estimated useful life of twenty years in connection

with the acquisition of a business in 2006.

Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual

value assumed to be zero, over its useful economic life..

Goodwill amortisation is included in administrative expenses in the statement of comprehensive income.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings & equipment

-

20% on reducing balance

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in

circumstances indicate that the carrying value may not be recoverable.

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds

and the carrying amount of the asset and is recognised in the profit and loss account and included in the other

operating income.

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net

realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow

moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts and payable, loans from banks and other third parties, loans to

related parties and investments in non-puttable ordinary shares.

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 found, an impairment loss is recognised

in profit and loss.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like plant, property and equipment are

reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of

possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value

in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable

amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is

recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date. The carrying amount of each item of

inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item

of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to

complete and sell, and an impairment loss is recognised immediately in profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective

interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,

are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost

using the effective interest method.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense in the period in which they

are incurred.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are

received.

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.

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 year 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2016

and 30 November 2017

500

AMORTISATION

At 1 December 2016

250

Amortisation for year

25

At 30 November 2017

275

NET BOOK VALUE

At 30 November 2017

225

At 30 November 2016

250

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2016

44,695

Additions

29,750

At 30 November 2017

74,445

DEPRECIATION

At 1 December 2016

26,724

Charge for year

9,544

At 30 November 2017

36,268

NET BOOK VALUE

At 30 November 2017

38,177

At 30 November 2016

17,971

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director.

8.	PARTICULARS OF A MORTGAGE OR CHARGE

There is a legal charge registered securing all monies due from the company to Shell UK Limited.

9.	LIABILITY LIMITATION AGREEMENT WITH THE ACCOUNTANT

The company has entered into a liability limitation agreement with the accountants Lee Christian & Co Limited

in respect of advice given and the preparation of any financial statements. The liability agreement strictly

restricts the liability of Lee Christian & Co Limited solely to Lavender Hill Garage Enfield Limited (the

company) and further restricts the liability of Lee Christian & Co Limited to the company in accordance with the

Lee Christian & Co Limited engagement letter and terms and conditions.

10.	FIRST YEAR ADOPTION