ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

14 LAWN ROAD LIMITED - Company Information

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Caseware UK (AP4) 2020.0.247 2020.0.247 2021-01-312021-01-3132020-02-01falsetrueproperty management3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02578066 2020-02-01 2021-01-31 02578066 2019-02-01 2020-01-31 02578066 2021-01-31 02578066 2020-01-31 02578066 c:Director3 2020-02-01 2021-01-31 02578066 d:Buildings 2021-01-31 02578066 d:Buildings 2020-01-31 02578066 d:CurrentFinancialInstruments 2021-01-31 02578066 d:CurrentFinancialInstruments 2020-01-31 02578066 d:CurrentFinancialInstruments d:WithinOneYear 2021-01-31 02578066 d:CurrentFinancialInstruments d:WithinOneYear 2020-01-31 02578066 d:ShareCapital 2021-01-31 02578066 d:ShareCapital 2020-01-31 02578066 d:RetainedEarningsAccumulatedLosses 2021-01-31 02578066 d:RetainedEarningsAccumulatedLosses 2020-01-31 02578066 c:OrdinaryShareClass1 2020-02-01 2021-01-31 02578066 c:OrdinaryShareClass1 2021-01-31 02578066 c:OrdinaryShareClass1 2020-01-31 02578066 c:FRS102 2020-02-01 2021-01-31 02578066 c:AuditExempt-NoAccountantsReport 2020-02-01 2021-01-31 02578066 c:FullAccounts 2020-02-01 2021-01-31 02578066 c:PrivateLimitedCompanyLtd 2020-02-01 2021-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02578066










14 LAWN ROAD LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2021
 
14 LAWN ROAD LIMITED
REGISTERED NUMBER: 02578066

BALANCE SHEET
AS AT 31 JANUARY 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,670
2,670

  
2,670
2,670

Current assets
  

Debtors: amounts falling due within one year
 6 
3,765
2,426

Cash at bank and in hand
 7 
2,938
2,147

  
6,703
4,573

Creditors: amounts falling due within one year
 8 
(8,905)
(7,013)

Net current liabilities
  
 
 
(2,202)
 
 
(2,440)

Total assets less current liabilities
  
468
230

  

Net assets
  
468
230


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
368
130

  
468
230


Page 1
 
14 LAWN ROAD LIMITED
REGISTERED NUMBER: 02578066
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

................................................
R G Watters
Director
Date: 7 October 2021

The notes on pages 3 to 6 form part of these financial statements.

Page 2
 
14 LAWN ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021

1.


General information

14 Lawn Road Limited is a private limited company limited by shares incorporated in England within the United Kingdom. The address of the registered office is 14 Lawn Road, 1st Floor Flat, London, NW3 2XS.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements are prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company's ability to continue as a going concern. The Directors have considered the impact of Covid-19 as part of their going concern assessment.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 3
 
14 LAWN ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land and freehold reversion are not depreciated.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a signifcant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.



 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4
 
14 LAWN ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No judgements have been made in the process of applying the above accounting policies that have had a significant effect on the amounts recognised in the financial statements.
No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2020 - 3).


5.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 February 2020
2,670



At 31 January 2021

2,670






Net book value



At 31 January 2021
2,670



At 31 January 2020
2,670


6.


Debtors

2021
2020
£
£


Prepayments and accrued income
3,765
2,426

3,765
2,426


Page 5
 
14 LAWN ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021

7.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
2,938
2,147

2,938
2,147



8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
526
-

Other creditors
2,249
2,249

Accruals and deferred income
6,130
4,764

8,905
7,013



9.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



100 (2020 - 100) Ordinary shares of £1.00 each
100
100


 
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