Linthorpe Bed Centre Limited - Accounts to registrar (filleted) - small 18.2
Linthorpe Bed Centre Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2019 |
| for |
| Linthorpe Bed Centre Limited |
| Linthorpe Bed Centre Limited (Registered number: 04492058) |
| Contents of the Financial Statements |
| for the year ended 31 August 2019 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Linthorpe Bed Centre Limited |
| Company Information |
| for the year ended 31 August 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 3-5 Grange Terrace |
| Stockton Road |
| Sunderland |
| Tyne & Wear |
| SR2 7DG |
| Linthorpe Bed Centre Limited (Registered number: 04492058) |
| Statement of Financial Position |
| 31 August 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Linthorpe Bed Centre Limited (Registered number: 04492058) |
| Statement of Financial Position - continued |
| 31 August 2019 |
| 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 |
| Linthorpe Bed Centre Limited (Registered number: 04492058) |
| Notes to the Financial Statements |
| for the year ended 31 August 2019 |
| 1. | STATUTORY INFORMATION |
| Linthorpe Bed Centre Limited is a |
| 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 |
| The financial statements have been prepared on the going concern basis,which assumes that the company will |
| continue in operational existence for the foreseeable future, which the directors consider to be appropriate. |
| Turnover |
| Turnover represents net sales of goods, excluding value added tax. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of the business, is being amortised evenly |
| over its estimated useful life of twenty 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. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Stocks |
| Stock is 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 has financial assets and financial liabilities of a kind that qualify as basic financial |
| instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their |
| settlement value. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and |
| Retained Earnings, 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 statement of financial position date. |
| Linthorpe Bed Centre Limited (Registered number: 04492058) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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 and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| In order to comply with FRS102, hire purchases liabilities have been restated to fair value. This means that the |
| annual hire purchases interest charge has been calculated under the sum-of-digits method, whereas previously |
| the annual hire purchase interest charge had been calculated under the straight line method. |
| The effects of the changes in accounting policies are shown further in the notes. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Development |
| Goodwill | costs | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2018 |
| and 31 August 2019 |
| AMORTISATION |
| At 1 September 2018 |
| Amortisation for year |
| At 31 August 2019 |
| NET BOOK VALUE |
| At 31 August 2019 |
| At 31 August 2018 |
| Linthorpe Bed Centre Limited (Registered number: 04492058) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2019 |
| DEPRECIATION |
| At 1 September 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2019 |
| NET BOOK VALUE |
| At 31 August 2019 |
| At 31 August 2018 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 September 2018 |
| and 31 August 2019 |
| DEPRECIATION |
| At 1 September 2018 |
| Charge for year |
| At 31 August 2019 |
| NET BOOK VALUE |
| At 31 August 2019 |
| At 31 August 2018 |
| 6. | STOCKS |
| 2019 | 2018 |
| £ | £ |
| Goods for resale |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Other debtors |
| Linthorpe Bed Centre Limited (Registered number: 04492058) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2019 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Hire purchase contracts (see note 10) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Hire purchase contracts (see note 10) |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2019 | 2018 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating |
| leases |
| 2019 | 2018 |
| £ | £ |
| Within one year |
| Between one and five years |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Hire purchase contracts | 3,030 | 13,589 |
| Any bank borrowing is secured by personal guarantees given by the directors. |
| Hire purchase liabilities are secured on the assets to which they relate. |
| 12. | CONTROL |
| The company was under the joint control of the directors in the year under review and the previous year. |