Caseware UK (AP4) 2021.0.152 2021.0.152 2021-11-302021-11-3010false2020-12-01No description of principal activity7truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02967750 2020-12-01 2021-11-30 02967750 2019-12-01 2020-11-30 02967750 2021-11-30 02967750 2020-11-30 02967750 2019-12-01 02967750 c:Director1 2020-12-01 2021-11-30 02967750 d:PlantMachinery 2020-12-01 2021-11-30 02967750 d:PlantMachinery 2021-11-30 02967750 d:PlantMachinery 2020-11-30 02967750 d:PlantMachinery d:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 02967750 d:CurrentFinancialInstruments 2021-11-30 02967750 d:CurrentFinancialInstruments 2020-11-30 02967750 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 02967750 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 02967750 d:ShareCapital 2021-11-30 02967750 d:ShareCapital 2020-11-30 02967750 d:RetainedEarningsAccumulatedLosses 2021-11-30 02967750 d:RetainedEarningsAccumulatedLosses 2020-11-30 02967750 c:FRS102 2020-12-01 2021-11-30 02967750 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 02967750 c:FullAccounts 2020-12-01 2021-11-30 02967750 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 02967750 d:AcceleratedTaxDepreciationDeferredTax 2021-11-30 02967750 d:AcceleratedTaxDepreciationDeferredTax 2020-11-30 02967750 d:TaxLossesCarry-forwardsDeferredTax 2021-11-30 02967750 d:TaxLossesCarry-forwardsDeferredTax 2020-11-30 02967750 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2021-11-30 02967750 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2020-11-30 02967750 d:LeasedAssetsHeldAsLessee 2021-11-30 02967750 d:LeasedAssetsHeldAsLessee 2020-11-30 iso4217:GBP xbrli:pure

Registered number: 02967750










LANGTONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2021

 
LANGTONS LIMITED
REGISTERED NUMBER: 02967750

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
79,912
88,856

  
79,912
88,856

Current assets
  

Stocks
  
99,150
90,577

Debtors: amounts falling due within one year
 5 
142,462
80,369

Cash at bank and in hand
  
34,047
75,348

  
275,659
246,294

Creditors: amounts falling due within one year
 6 
(72,996)
(47,529)

Net current assets
  
 
 
202,663
 
 
198,765

Total assets less current liabilities
  
282,575
287,621

Provisions for liabilities
  

Deferred tax
 7 
(12,509)
(13,938)

  
 
 
(12,509)
 
 
(13,938)

Net assets
  
270,066
273,683


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
270,064
273,681

  
270,066
273,683


Page 1

 
LANGTONS LIMITED
REGISTERED NUMBER: 02967750
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2021

The directors consider 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 the Companies Act 2006.

The directors acknowledge their 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 income statement 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 by: 




................................................
S J Appleby
Director

Date: 20 April 2022

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
LANGTONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1.


General information

Langtons Limited is a private company limited by shares and incorporated in England and Wales, registration number 02967750. The registered office is Progress Way, Mid Suffolk Business Park, Langton Green, Eye, Suffolk, IP23 7HU.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

Page 3

 
LANGTONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

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 4

 
LANGTONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)


2.6
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:

Plant & machinery
-
15% per annum on the reducing balance basis

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 profit or loss.

 
2.7

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Page 5

 
LANGTONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2020 - 10).


4.


Tangible fixed assets





Plant & machinery

£



Cost or valuation


At 1 December 2020
475,011


Additions
4,338



At 30 November 2021

479,349



Depreciation


At 1 December 2020
386,155


Charge for the year on owned assets
13,282



At 30 November 2021

399,437



Net book value



At 30 November 2021
79,912



At 30 November 2020
88,856

Page 6

 
LANGTONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2021
2020
£
£



Plant and machinery
-
10,745

-
10,745


5.


Debtors

2021
2020
£
£


Trade debtors
136,849
38,392

Amounts owed by associates
-
30,942

Other debtors
4,833
1,534

Prepayments and accrued income
780
4,956

Tax recoverable
-
4,545

142,462
80,369



6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
45,043
23,408

Amounts owed to associates
3,926
-

Corporation tax
581
-

Other taxation and social security
3,505
2,956

Obligations under finance lease and hire purchase contracts
-
2,410

Other creditors
972
688

Accruals and deferred income
18,969
18,067

72,996
47,529


Page 7

 
LANGTONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

7.


Deferred taxation




2021
2020


£

£






At beginning of year
(13,938)
(14,238)


Charged to profit or loss
1,429
300



At end of year
(12,509)
(13,938)

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
(12,578)
(13,987)

Tax losses carried forward
69
49

(12,509)
(13,938)


8.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
The pension cost charge represents contributions payable by the company to the fund and amounted to £2,972 (2020: £3,697). Contributions totalling £364 (2020: £258) were payable to the fund at the balance sheet date and are included in creditors.


9.


Related party transactions

Included in creditors at the year end date is a balance of £3,926 owed to Brown & May Marine Limited, a company of which S J Appleby and S P Appleby are also directors and controlling shareholders. (2020: Debtors balance £30,942).

 
Page 8