Location Contractors (2003) Limited - Period Ending 2018-03-31

Location Contractors (2003) Limited

Annual Report and Unaudited Financial Statements
Period from 6 April 2017 to 31 March 2018

Registration number: 04730253

Location Contractors (2003) Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 5

Location Contractors (2003) Limited

Balance Sheet

31 March 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	1,556	2,429
Current assets
Debtors	5	32,581	10,265
Cash at bank and in hand		16,312	35,811
		48,893	46,076
Creditors: Amounts falling due within one year	6	(24,151)	(18,571)
Net current assets		24,742	27,505
Net assets		26,298	29,934
Capital and reserves
Called up share capital		1	1
Profit and loss account		26,297	29,933
Total equity		26,298	29,934

For the financial period ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 30 November 2018
 

......................................... M J Davies Director

Company Registration Number: 04730253

The notes on pages 2 to 5 form an integral part of these financial statements.

Page 1

Location Contractors (2003) Limited

Notes to the Financial Statements

Period from 6 April 2017 to 31 March 2018

1	General information

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

The address of its registered office is:
Francis Clark LLP
North Quay House
Sutton Harbour
Plymouth
England
PL4 0RA

The principal place of business is:
5 Colemoore Meadow
Tavistock
England
PL19 0ES

These financial statements were authorised for issue by the director on 30 November 2018.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Page 2

Location Contractors (2003) Limited

Notes to the Financial Statements

Period from 6 April 2017 to 31 March 2018

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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
Furniture, fittings and equipment	33% reducing balance

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2017 - 1).

Page 3

Location Contractors (2003) Limited

Notes to the Financial Statements

Period from 6 April 2017 to 31 March 2018

4	Tangible assets

	Furniture, fittings and equipment  £
Cost or valuation
At 6 April 2017	6,567
Disposals	(2,149)
At 31 March 2018	4,418
Depreciation
At 6 April 2017	4,138
Charge for the period	653
Eliminated on disposal	(1,929)
At 31 March 2018	2,862
Carrying amount
At 31 March 2018	1,556
At 5 April 2017	2,429

5

Debtors

	31 March 2018  £	5 April 2017  £
Trade debtors	9,080	10,265
Other debtors	23,501	-
	32,581	10,265

6

Creditors

Creditors: amounts falling due within one year

	Note	31 March 2018  £	5 April 2017  £
Due within one year
Corporation tax		17,297	11,966
Social security and other taxes		5,004	4,805
Accrued expenses		1,850	1,800
		24,151	18,571

Page 4

Location Contractors (2003) Limited

Notes to the Financial Statements

Period from 6 April 2017 to 31 March 2018

7	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

8	Related party transactions

Advances to directors

2018	At 6 April 2017 £	Advances to director £	Repayments by director £	At 31 March 2018 £
M J Davies
Director's Loan	25,000	-	(1,500)	23,500

Page 5