IRIS Accounts Production v18.3.0.592 09306063 Board of Directors 1.4.17 31.3.18 31.3.18 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure093060632017-03-31093060632018-03-31093060632017-04-012018-03-31093060632016-03-31093060632016-04-012017-03-31093060632017-03-3109306063ns15:EnglandWales2017-04-012018-03-3109306063ns14:PoundSterling2017-04-012018-03-3109306063ns10:Director12017-04-012018-03-3109306063ns10:PrivateLimitedCompanyLtd2017-04-012018-03-3109306063ns10:SmallEntities2017-04-012018-03-3109306063ns10:AuditExempt-NoAccountantsReport2017-04-012018-03-3109306063ns10:SmallCompaniesRegimeForDirectorsReport2017-04-012018-03-3109306063ns10:SmallCompaniesRegimeForAccounts2017-04-012018-03-3109306063ns10:FullAccounts2017-04-012018-03-3109306063ns10:Director22017-04-012018-03-3109306063ns10:CompanySecretary12017-04-012018-03-3109306063ns10:RegisteredOffice2017-04-012018-03-3109306063ns5:CurrentFinancialInstruments2018-03-3109306063ns5:CurrentFinancialInstruments2017-03-3109306063ns5:ShareCapital2018-03-3109306063ns5:ShareCapital2017-03-3109306063ns5:RetainedEarningsAccumulatedLosses2018-03-3109306063ns5:RetainedEarningsAccumulatedLosses2017-03-3109306063ns5:FurnitureFittings2017-04-012018-03-3109306063ns5:ComputerEquipment2017-04-012018-03-3109306063ns5:FurnitureFittings2017-03-3109306063ns5:ComputerEquipment2017-03-3109306063ns5:FurnitureFittings2018-03-3109306063ns5:ComputerEquipment2018-03-3109306063ns5:FurnitureFittings2017-03-3109306063ns5:ComputerEquipment2017-03-3109306063ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-03-3109306063ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-03-3109306063ns10:Director112017-03-3109306063ns10:Director112016-03-3109306063ns10:Director112017-04-012018-03-3109306063ns10:Director112016-04-012017-03-3109306063ns10:Director112018-03-3109306063ns10:Director112017-03-31


REGISTERED NUMBER: 09306063 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

LORAND DESIGN LTD

LORAND DESIGN LTD (REGISTERED NUMBER: 09306063)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LORAND DESIGN LTD

COMPANY INFORMATION
for the Year Ended 31 March 2018







DIRECTORS: A Padley
Mrs L P Padley





SECRETARY: Mrs L P Padley





REGISTERED OFFICE: 4 Prince William Close
Worthing
West Sussex
BN14 0AZ





REGISTERED NUMBER: 09306063 (England and Wales)





ACCOUNTANTS: Badcock Business Solutions
Chartered Accountants
4 Prince William Close
Worthing
West Sussex
BN14 0AZ

LORAND DESIGN LTD (REGISTERED NUMBER: 09306063)

STATEMENT OF FINANCIAL POSITION
31 March 2018

31/3/18 31/3/17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 506 1,086

CURRENT ASSETS
Debtors 5 16,816 3,453
Cash at bank 28,369 33,702
45,185 37,155
CREDITORS
Amounts falling due within one year 6 28,245 25,885
NET CURRENT ASSETS 16,940 11,270
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,446

12,356

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 17,346 12,256
SHAREHOLDERS' FUNDS 17,446 12,356

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 15 June 2018 and were signed on its behalf by:





A Padley - Director


LORAND DESIGN LTD (REGISTERED NUMBER: 09306063)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

Lorand Design 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on cost
Computer equipment - 33% on cost

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 2 (2017 - 2 ) .

LORAND DESIGN LTD (REGISTERED NUMBER: 09306063)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2018

4. TANGIBLE FIXED ASSETS
Office Computer
equipment equipment Totals
£    £    £   
COST
At 1 April 2017 811 950 1,761
Additions - 397 397
Disposals (811 ) (469 ) (1,280 )
At 31 March 2018 - 878 878
DEPRECIATION
At 1 April 2017 281 394 675
Charge for year - 254 254
Eliminated on disposal (281 ) (276 ) (557 )
At 31 March 2018 - 372 372
NET BOOK VALUE
At 31 March 2018 - 506 506
At 31 March 2017 530 556 1,086

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/18 31/3/17
£    £   
Trade debtors 16,380 345
Other debtors 436 3,108
16,816 3,453

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/18 31/3/17
£    £   
Bank loans and overdrafts 402 154
Taxation and social security 26,633 24,591
Other creditors 1,210 1,140
28,245 25,885

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2018 and
31 March 2017:

31/3/18 31/3/17
£    £   
A Padley
Balance outstanding at start of year 2,740 -
Amounts advanced - 3,000
Amounts repaid (2,740 ) (260 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,740