Lothbury UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04942973

Lothbury UK Limited

Financial Statements

for the Year Ended 31 December 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D J E Whitelocke Winter

Mr D A Howard

REGISTERED OFFICE:

Rooms 740-745

7th Floor

Ibex House

42-47 Minories

London

EC3N 1DY

REGISTERED NUMBER:

04942973

AUDITORS:

Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

FIXED ASSETS

Tangible assets

4

2,604

3,322

CURRENT ASSETS

Debtors

5

770,270

805,069

Cash at bank

107,300

237,825

877,570

1,042,894

CREDITORS

Amounts falling due within one year

6

478,334

645,241

NET CURRENT ASSETS

399,236

397,653

TOTAL ASSETS LESS CURRENT LIABILITIES

401,840

400,975

CAPITAL AND RESERVES

Called up share capital

383,500

383,500

Retained earnings

18,340

17,475

401,840

400,975

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 and authorised for issue on 25 August 2020 and were signed on its behalf by:

Mr D A Howard - Director

1.	STATUTORY INFORMATION

Lothbury UK Limited is a private company, limited by shares , registered in Not specified/Other. 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.

The year ended 31 December 2016 is the first year if adoption of FRS 102 for the preparation of the Financial

statement and there have been no adjustment or reclassifications as a result of the adoption.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding value added and

other sales taxes, in respect of insurance commissions and fees.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

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.

Debtors

Short term debtors are included at fair value, they are measured at transaction price, less any impairment.

Creditors

Short term creditors are included at fair value, they are measured at the transaction price. Other financial

liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured

subsequently at amortised cost.

Provision for liabilities

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a

past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can

be made of the amount of the obligation

Employee Benefit

Short term employee benefits and contribution to defined contribution plans are recognised as an expense in the

period in which they are incurred

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2019

31,462

Additions

1,220

Disposals

(24,370

)

At 31 December 2019

8,312

DEPRECIATION

At 1 January 2019

28,140

Charge for year

1,938

Eliminated on disposal

(24,370

)

At 31 December 2019

5,708

NET BOOK VALUE

At 31 December 2019

2,604

At 31 December 2018

3,322

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

513,720

548,519

Other debtors

256,550

256,550

770,270

805,069

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

445,558

591,358

Taxation and social security

10,904

14,980

Other creditors

21,872

38,903

478,334

645,241

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

8,811

9,173

Between one and five years

26,813

12,400

35,624

21,573

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aled Owen Roberts (Senior Statutory Auditor)

for and on behalf of Salisbury & Company Business Solutions Limited

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2019 and

31 December 2018:

2019

2018

£

£

Mr D A Howard

Balance outstanding at start of year

(2,084

)

(26,150

)

Amounts advanced

3,086

24,066

Amounts repaid

(1,002

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(2,084

)

Mr D J E Whitelocke Winter

Balance outstanding at start of year

(27,088

)

(28,781

)

Amounts advanced

(33,323

)

1,693

Amounts repaid

47,911

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(12,500

)

(27,088

)

10.	RELATED PARTY DISCLOSURES

At 31st December 2019 the company was owed £256,550 by Lothbury Group Limited the parent company

(2018: £256,550)

During the year the company purchased goods and services from Gyrn Castle amounting to £75,720 (2018:

£70,569) and Howard Farming amounting to £2,863 (2018: £19,040), both businesses owned/controlled by DA

Howard, a Director.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D A Howard by virtue of his controlling interest in Lothbury Group Limited the

parent company of Lothbury UK Limited.