R & O Lane Ltd - Accounts

R & O Lane Ltd - Accounts

R & O LANE LIMITED - Company Information

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Registered Number: 05877361
England and Wales

 

 

 

R & O LANE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 August 2019

End date: 31 July 2020

R & O Lane Ltd
Contents Page
For the year ended 31 July 2020
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 July 2020 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Thieme and Company
31 July 2020



....................................................
Thieme and Company
18 Thorne Road
Doncaster
DN1 2HS
19 April 2021
1
 
 		 Notes
 		 2020
£		   2019
£
Fixed assets      
Tangible fixed assets 2 167,097    143,497 
167,097    143,497 
Current assets      
Debtors 458,249    419,029 
Cash at bank and in hand 3,382    34,178 
461,631    453,207 
Creditors: amount falling due within one year (88,600)   (67,779)
Net current assets 373,031    385,428 
 
Total assets less current liabilities 540,128    528,925 
Net assets 540,128    528,925 
 

Capital and reserves 		     
Called up share capital 3 2    2 
Profit and loss account 540,126    528,923 
Shareholders funds 540,128    528,925 
 


For the year ended 31 July 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 19 April 2021 and were signed on its behalf by:


--------------------------------
Robert Lane
Director
2
General Information
R & O Lane Ltd is a private company, limited by shares,registered in England and Wales,registration number 05877361,registration address 29 High Street, Bentley, Doncaster, DN5 0AA

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
2.

Tangible fixed assets

Cost or valuation Motor Vehicles   Total
  £   £
At 01 August 2019 427,806    427,806 
Additions 79,431    79,431 
Disposals (29,440)   (29,440)
At 31 July 2020 477,797    477,797 
Depreciation
At 01 August 2019 284,309    284,309 
Charge for year 47,064    47,064 
On disposals (20,673)   (20,673)
At 31 July 2020 310,700    310,700 
Net book values
Closing balance as at 31 July 2020 167,097    167,097 
Opening balance as at 01 August 2019 143,497    143,497 


3.

Share Capital

Allotted, called up and fully paid
2020
£		   2019
£
2 Class A shares of £1.00 each 2    2 
2    2 

4.

Average number of employees

Average number of employees during the year was 1 (2019 : 1)
3