Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The director considers 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 Companies Act 2006.falseNo description of principal activity2017-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalse 08932129 2017-04-01 2018-03-31 08932129 2018-03-31 08932129 2017-03-31 08932129 c:Director1 2017-04-01 2018-03-31 08932129 d:FurnitureFittings 2017-04-01 2018-03-31 08932129 d:FurnitureFittings 2018-03-31 08932129 d:FurnitureFittings 2017-03-31 08932129 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 08932129 d:ComputerEquipment 2017-04-01 2018-03-31 08932129 d:ComputerEquipment 2018-03-31 08932129 d:ComputerEquipment 2017-03-31 08932129 d:ComputerEquipment d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 08932129 d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 08932129 d:PatentsTrademarksLicencesConcessionsSimilar 2018-03-31 08932129 d:PatentsTrademarksLicencesConcessionsSimilar 2017-03-31 08932129 d:CurrentFinancialInstruments 2018-03-31 08932129 d:CurrentFinancialInstruments 2017-03-31 08932129 d:Non-currentFinancialInstruments 2018-03-31 08932129 d:Non-currentFinancialInstruments 2017-03-31 08932129 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 08932129 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 08932129 d:Non-currentFinancialInstruments d:AfterOneYear 2018-03-31 08932129 d:Non-currentFinancialInstruments d:AfterOneYear 2017-03-31 08932129 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2018-03-31 08932129 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2017-03-31 08932129 d:ShareCapital 2018-03-31 08932129 d:ShareCapital 2017-03-31 08932129 d:RetainedEarningsAccumulatedLosses 2018-03-31 08932129 d:RetainedEarningsAccumulatedLosses 2017-03-31 08932129 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2018-03-31 08932129 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-03-31 08932129 c:FRS102 2017-04-01 2018-03-31 08932129 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 08932129 c:FullAccounts 2017-04-01 2018-03-31 08932129 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP

Registered number: 08932129









JUSTIN LYWARD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2018

 
JUSTIN LYWARD LIMITED
REGISTERED NUMBER: 08932129

BALANCE SHEET
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,108
1,477

  
1,108
1,477

Current assets
  

Stocks
 6 
21,567
27,250

Debtors: amounts falling due within one year
 7 
27,200
26,536

Cash At Bank And In Hand
 8 
15,939
23,714

  
64,706
77,500

Creditors: amounts falling due within one year
 9 
(46,872)
(42,073)

Net current assets
  
 
 
17,834
 
 
35,427

Total assets less current liabilities
  
18,942
36,904

Creditors: amounts falling due after more than one year
 10 
(18,391)
(23,460)

  

Net assets
  
551
13,444


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
550
13,443

  
551
13,444











 
Page 1

 
JUSTIN LYWARD LIMITED
REGISTERED NUMBER: 08932129
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2018

The director considers 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 Companies Act 2006.

The director acknowledges his 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 on 11 November 2018.




................................................
JT Lyward
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
JUSTIN LYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1.


General information

Justin Lyward Limited is a private company limited by shares. The company was incorporated in England and Wales and the registered office is Aston House, Cornwall Avenue, London, N3 1LF.

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 following principal accounting policies have been applied:

 
2.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
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.

Page 3

 
JUSTIN LYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25% on a reducing balance
Computer equipment
-
33% on a straight lilne

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant 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

Stocks

Stocks are stated at the lower of cost and net realisable value.

 
2.6

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.

 
2.7

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.

 
2.8

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 non-puttable ordinary shares.

 
2.9

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.

 
2.10

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
JUSTIN LYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

 
2.12

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term.

 
2.13

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

 
2.14

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

 
2.15

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the United Kingdom.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2017 - 2).

Page 5

 
JUSTIN LYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

4.


Intangible assets




Franchise fee

£



Cost


At 1 April 2017
7,500



At 31 March 2018

7,500



Amortisation


At 1 April 2017
7,500



At 31 March 2018

7,500



Net book value



At 31 March 2018
-



At 31 March 2017
-

Page 6

 
JUSTIN LYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

5.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2017
1,050
1,329
2,379



At 31 March 2018

1,050
1,329
2,379



Depreciation


At 1 April 2017
459
443
902


Charge for the year on owned assets
148
222
370



At 31 March 2018

607
665
1,272



Net book value



At 31 March 2018
443
664
1,107



At 31 March 2017
591
886
1,477


6.


Stocks

2018
2017
£
£

Finished goods
21,567
27,250

21,567
27,250



7.


Debtors

2018
2017
£
£


Trade debtors
26,200
26,536

Other debtors
1,000
-

27,200
26,536


Page 7

 
JUSTIN LYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

8.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
15,939
23,714

15,939
23,714



9.


Creditors: Amounts falling due within one year

2018
2017
£
£

Other loans
5,068
4,682

Corporation tax
4,367
6,241

Other taxation and social security
3,766
2,706

Other creditors
29,571
25,944

Accruals and deferred income
4,100
2,500

46,872
42,073


Included within other loans is an amount of £5,068 (2017: £4,682) due to Snap-on Finance UK Limited. The loan is repaid in weekly instalments of principal and interest at the rate of 7.98% per annum.


10.


Creditors: Amounts falling due after more than one year

2018
2017
£
£

Other loans
18,391
23,460

18,391
23,460


Included within other loans more than one year is an amount of £18,391 (2017: £23,460) due to Snap-on Finance UK Limited.

Page 8

 
JUSTIN LYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

11.


Loans


Analysis of the maturity of loans is given below:


2018
2017
£
£

Amounts falling due within one year

Other loans
5,068
4,682


Amounts falling due 2-5 years

Other loans
18,392
23,460


23,460
28,142



12.


Financial instruments

2018
2017
£
£

Financial assets


Financial assets measured at fair value through profit or loss
15,939
23,714




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.



13.


Transactions with directors

Included within other creditors is an amount of £6,937 (2017: £2,780) was due to JT Lyward, the director. This balance is unsecured, interest free and repayable on demand. 
During the year, dividends of £28,000 (2017: £9,000) were paid to the director.

 
Page 9