LCCI Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10334634 (England and Wales)

Financial Statements

for the Year Ended 31 March 2019

for

LCCI Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J H Crosby

Mr I E Extance

Mr G C Headland

Mr G A Lee

Mr S G McGarry

M T Williamson

D M Lister

REGISTERED OFFICE:

Commerce House

Carlton Boulevard

LINCOLN

Lincolnshire

LN2 4WJ

REGISTERED NUMBER:

10334634 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

BANKERS:

NatWest Bank Plc

Lincoln Smiths Branch

225 High Street

LINCOLN

Lincolnshire

LN2 1AZ

FIXED ASSETS

Tangible assets

4

1,204,179

1,151,930

CURRENT ASSETS

Debtors

5

32,866

19,849

Cash at bank

43,702

15,051

76,568

34,900

CREDITORS

Amounts falling due within one year

6

1,193,305

1,079,170

NET CURRENT LIABILITIES

(1,116,737

)

(1,044,270

)

TOTAL ASSETS LESS CURRENT LIABILITIES

87,442

107,660

PROVISIONS FOR LIABILITIES

-

20,218

NET ASSETS

87,442

87,442

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

87,441

87,441

SHAREHOLDERS' FUNDS

87,442

87,442

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

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 10 October 2019 and were signed on its behalf by:

Mr G C Headland - Director

1.	STATUTORY INFORMATION

LCCI Services 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.

Land and buildings

-

not provided

Plant and machinery etc

-

25% on reducing balance

Government grants

Grant income is recognised in the profit and loss account on the same basis as the

depreciation on the assets to which the grant relates.

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.

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and

financial liabilities are recognised in the accounts only when the entity becomes party to the

contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt

instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction

price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial

instruments, and are measured at amortised cost. Where a financial liability constitutes a

financing transaction it is initially and subsequently measured at the present value of future

payments, discounted at a market rate of interest.

Rental income received

Rents receivable are recognised in the profit and loss account under Property income and

are on an accruals basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2018

1,150,000

2,869

1,152,869

Additions

-

53,853

53,853

At 31 March 2019

1,150,000

56,722

1,206,722

DEPRECIATION

At 1 April 2018

-

939

939

Charge for year

-

1,604

1,604

At 31 March 2019

-

2,543

2,543

NET BOOK VALUE

At 31 March 2019

1,150,000

54,179

1,204,179

At 31 March 2018

1,150,000

1,930

1,151,930

Cost or valuation at 31 March 2019 is represented by:

Land and buildings

Plant and machinery etc

Totals

£

£

£

Valuation in 2017

121,811

-

121,811

Cost

1,028,189

56,722

1,084,911

1,150,000

56,722

1,206,722

If land and buildings had not been revalued it would be included at the following historical

cost:

31/3/19

31/3/18

£

£

Cost

1,028,189

1,028,189

Aggregate Depreciation

61,692

41,128

Value of land in land and buildings

175,000

175,000

The revalued amount is what the Director's believe to be the accurate open market value.

No provision has been made for additional United Kingdom taxation of £23,144 (2018:

£23,144) which would arise if the land and buildings were disposed of at their revalued

amount.This liability has not been provided for in the accounts due to tax losses carried

forward.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Trade debtors

12,940

12,630

Other debtors

19,926

7,219

32,866

19,849

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Trade creditors

9,502

2,044

Amounts owed to group undertakings

1,140,875

1,056,047

Taxation and social security

-

4,593

Other creditors

42,928

16,486

1,193,305

1,079,170