Lukins Technical & Design Limited - Period Ending 2017-05-31

Lukins Technical & Design Limited - Period Ending 2017-05-31


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Registration number: 07594292

Lukins Technical & Design Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 May 2016 to 31 May 2017

McManus Williams Limited
Chartered Certified Accountants
Suite 2, Bellevue Mansions
18-22 Bellevue Road
Clevedon
BS21 7NU

 

Lukins Technical & Design Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 6

 

Lukins Technical & Design Limited

Company Information

Directors

Mr L Lukins

Mr R S Senior

Registered office

Unit 59 Spike Island
133 Cumberland Road
Bristol
Avon
BS1 6UX

Accountants

McManus Williams Limited
Chartered Certified Accountants
Suite 2, Bellevue Mansions
18-22 Bellevue Road
Clevedon
BS21 7NU

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lukins Technical & Design Limited
for the Period Ended 31 May 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lukins Technical & Design Limited for the period ended 31 May 2017 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of Lukins Technical & Design Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lukins Technical & Design Limited and state those matters that we have agreed to state to the Board of Directors of Lukins Technical & Design Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lukins Technical & Design Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lukins Technical & Design Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lukins Technical & Design Limited. You consider that Lukins Technical & Design Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Lukins Technical & Design Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

McManus Williams Limited
Chartered Certified Accountants
Suite 2, Bellevue Mansions
18-22 Bellevue Road
Clevedon
BS21 7NU

20 November 2017

 

Lukins Technical & Design Limited

(Registration number: 07594292)
Balance Sheet as at 31 May 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

4

396

1,177

Current assets

 

Debtors

5

13,616

6,314

Cash at bank and in hand

 

15,535

12,794

 

29,151

19,108

Creditors: Amounts falling due within one year

6

(22,542)

(19,685)

Net current assets/(liabilities)

 

6,609

(577)

Total assets less current liabilities

 

7,005

600

Provisions for liabilities

(156)

(235)

Net assets

 

6,849

365

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

6,848

364

Total equity

 

6,849

365

For the financial period ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 November 2017 and signed on its behalf by:
 

.........................................

Mr L Lukins

Director

 

Lukins Technical & Design Limited

Notes to the Financial Statements for the Period from 1 May 2016 to 31 May 2017

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Unit 59 Spike Island
133 Cumberland Road
Bristol
Avon
BS1 6UX

These financial statements were authorised for issue by the Board on 20 November 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Computer equipment

33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Lukins Technical & Design Limited

Notes to the Financial Statements for the Period from 1 May 2016 to 31 May 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1 (2016 - 1).

 

Lukins Technical & Design Limited

Notes to the Financial Statements for the Period from 1 May 2016 to 31 May 2017

4

Tangible assets

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 May 2016

2,567

143

2,710

At 31 May 2017

2,567

143

2,710

Depreciation

At 1 May 2016

1,424

109

1,533

Charge for the year

773

8

781

At 31 May 2017

2,197

117

2,314

Carrying amount

At 31 May 2017

370

26

396

At 30 April 2016

1,143

34

1,177

5

Debtors

2017
£

2016
£

Trade debtors

12,248

5,995

Other debtors

1,368

319

Total current trade and other debtors

13,616

6,314

6

Creditors

Note

2017
£

2016
£

Due within one year

 

Director's loan account

14,806

13,520

Other creditors

 

7,736

6,165

 

22,542

19,685

7

Transition to FRS 102

The company has adopted the accounting standards of FRS 102 and the reduced disclosure requirements of s1A, with an effective date of 1st May 2015. There are no changes in treatment or valuation required as a result of the transition so all comparative figures remain as previously reported.