Lostock Skip Hire Limited - Accounts to registrar (filleted) - small 18.2
Lostock Skip Hire Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Audited Financial Statements for the Year Ended 31 March 2018 |
| for |
| Lostock Skip Hire Limited |
| Lostock Skip Hire Limited (Registered number: 04661565) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Lostock Skip Hire Limited |
| Company Information |
| for the Year Ended 31 March 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants and Registered Auditor |
| 52 Chorley New Road |
| Bolton |
| Lancashire |
| BL1 4AP |
| Lostock Skip Hire Limited (Registered number: 04661565) |
| Balance Sheet |
| 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 |
| PROVISIONS FOR LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 905,380 | 911,790 |
| 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 Board of Directors on |
| Lostock Skip Hire Limited (Registered number: 04661565) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Lostock Skip Hire Limited is a |
| 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. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
| Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly |
| owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added |
| tax and other sales taxes. Turnover includes revenue earned from the sale of goods and rendering of services. |
| Sale of goods |
| Turnover from the sale of goods is recognised when the significant risks and rewards of the ownership of the goods has |
| transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. |
| 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a |
| contract cannot be estimated reliably. |
| Goodwill |
| Goodwill is capitalised and is being amortised over its useful life of 10 years. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any |
| accumulated amortisation and any accumulated impairment losses. |
| Computer Software | 20% reducing balance |
| Lostock Skip Hire Limited (Registered number: 04661565) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 3. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Tangible assets are stated in the statement of financial position at cost less any subsequent accumulated depreciation |
| and subsequent accumulated impairment. The cost of tangible assets includes directly attributable losses and |
| incremental costs incurred in the acquisition and installation. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Improvements to property | 10% reducing balance |
| Office equipment | 15% reducing balance |
| Fixtures and fittings | 15% reducing balance |
| Plant and machinery | 25% reducing balance |
| Motor Vehicles | 25% 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. |
| 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. |
| Hire purchase commitments |
| Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and are depreciated over their |
| useful lives.Obligations under such agreements are included in the creditors net of the finance charge allocated to future |
| periods. The finance element of the payment is charged to the profit and loss account. |
| Rentals paid under operating leases are charged to the profit and loss on a straight line basis over the period of the lease. |
| 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 |
| Lostock Skip Hire Limited (Registered number: 04661565) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 5. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2017 |
| Additions |
| At 31 March 2018 |
| AMORTISATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 6. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2017 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| Lostock Skip Hire Limited (Registered number: 04661565) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 6. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2017 |
| and 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| Lostock Skip Hire Limited (Registered number: 04661565) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| Taxation and social security | ( |
) |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | RELATED PARTY DISCLOSURES |
| The directors loan account for J Dyke at the year end was £40,000 (2017 - £49,000) |
| 12. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Hilton Homes Limited. |