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COMPANY REGISTRATION NUMBER: 10978529
LS Legacy Ltd
Filleted Unaudited Financial Statements
For the year ended
30 September 2018
LS Legacy Ltd
Financial Statements
Year ended 30 September 2018
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
The following pages do not form part of the financial statements
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
6
LS Legacy Ltd
Officers and Professional Advisers
The board of directors
Mr D C Scothern
Mr L Scothern
Company secretary
Ms E Exton
Registered office
550 Valley Road
Basford
Nottingham
NG5 1JJ
Accountants
Swandec
Chartered Accountants
550 Valley Road
Basford
Nottingham
NG5 1JJ
LS Legacy Ltd
Statement of Financial Position
30 September 2018
2018
Note
£
Current assets
Debtors
3
100
Cash at bank and in hand
119,259
---------
119,359
Creditors: amounts falling due within one year
4
119,259
---------
Net current assets
100
----
Total assets less current liabilities
100
----
Capital and reserves
Called up share capital
5
100
----
Members funds
100
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 September 2018 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 9 November 2018 , and are signed on behalf of the board by:
Mr D C Scothern
Director
Company registration number: 10978529
LS Legacy Ltd
Notes to the Financial Statements
Year ended 30 September 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
3. Debtors
2018
£
Other debtors
100
----
4. Creditors: amounts falling due within one year
2018
£
Other creditors
119,259
---------
5. Called up share capital
Issued, called up and fully paid
2018
No.
£
Ordinary shares of £ 1 each
100
100
----
----
Share movements
No.
£
Ordinary
At 1 October 2017
Issue of shares
100
----
----
At 30 September 2018
100
----
----
6. Directors' advances, credits and guarantees
At the statement of financial position date the amount owing to the directors was £119,259. The directors loan account is unsecured,interest free and repayable on demand.
LS Legacy Ltd
Management Information
Year ended 30 September 2018
The following pages do not form part of the financial statements.
LS Legacy Ltd
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of LS Legacy Ltd
Year ended 30 September 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LS Legacy Ltd for the year ended 30 September 2018, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of LS Legacy Ltd, as a body, in accordance with the terms of our engagement letter dated 9 November 2018. Our work has been undertaken solely to prepare for your approval the financial statements of LS Legacy Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LS Legacy Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that LS Legacy Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of LS Legacy Ltd. You consider that LS Legacy Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of LS Legacy Ltd. 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 financial statements.
Swandec Chartered Accountants
550 Valley Road Basford Nottingham NG5 1JJ
9 November 2018