Landmark Lifts Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03493472 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

LANDMARK LIFTS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T G Binger

Mr G Price

Mr M S Hadlow

REGISTERED OFFICE:

Nova House

162 Pratling Street

Aylesford

Kent

ME20 7DH

REGISTERED NUMBER:

03493472 (England and Wales)

ACCOUNTANTS:

George & Co.

Chartered Accountants

Thornhill House

26 Fisher Street

Maidstone

Kent

ME14 2SU

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

20,501

29,832

20,501

29,832

CURRENT ASSETS

Debtors

6

1,056,551

845,034

Cash at bank

226,526

28,491

1,283,077

873,525

CREDITORS

Amounts falling due within one year

7

1,261,790

853,180

NET CURRENT ASSETS

21,287

20,345

TOTAL ASSETS LESS CURRENT LIABILITIES

41,788

50,177

PROVISIONS FOR LIABILITIES

8

1,149

2,549

NET ASSETS

40,639

47,628

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

10

39,639

46,628

SHAREHOLDERS' FUNDS

40,639

47,628

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 18 August 2017 and were signed on its behalf by:

Mr T G Binger - Director

Mr G Price - Director

1.	STATUTORY INFORMATION

Landmark Lifts Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue

Revenue represents the total value, excluding value added tax, of sales earned during the year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1998, is being amortised evenly over its estimated useful life of twelve 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.

Property, plant and equipment

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

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 statement of financial position date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

52,000

AMORTISATION

At 1 April 2016

and 31 March 2017

52,000

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2016

159,027

Additions

1,588

Disposals

(12,255

)

At 31 March 2017

148,360

DEPRECIATION

At 1 April 2016

129,195

Charge for year

8,193

Eliminated on disposal

(9,529

)

At 31 March 2017

127,859

NET BOOK VALUE

At 31 March 2017

20,501

At 31 March 2016

29,832

6.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

451,547

220,970

Other debtors

26,688

25,564

478,235

246,534

Amounts falling due after more than one year:

Amounts owed by group undertakings

578,316

598,500

Aggregate amounts

1,056,551

845,034

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

223,574

350,672

Taxation and social security

203,308

114,683

Other creditors

834,908

387,825

1,261,790

853,180

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

1,149

2,549

Deferred

tax

£

Balance at 1 April 2016

2,549

Credit to Income Statement during year

(1,400

)

Balance at 31 March 2017

1,149

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1,000

Ordinary

1

1,000

1,000

10.

RESERVES

Retained

earnings

£

At 1 April 2016

46,628

Profit for the year

318,011

Dividends

(325,000

)

At 31 March 2017

39,639

11.	RELATED PARTY DISCLOSURES

During the year, the company was charged by its holding company, N L C Nova Lift Co. Ltd, £130,000

management fees (2016, £120,000) and paid dividends to it of £325,000 (2016, £175,000). At the end of the

year, the holding company owed Landmark Lifts Ltd £578,316 (2016, £598,500). There are no formal terms for

the repayment of this loan and no interest is being charged.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr T G Binger and Mr G Price due to shares held in the holding company.

13.	FIRST YEAR ADOPTION

There have been no adjustments required to the amounts included in the financial statements as a result of the

transition from UK GAAP to FRS 102 accounting standards. As such, there is no need for Reconciliation of

Equity and Reconciliation of Profit and Loss statements.