Lombarde Limited |
Notes to the Accounts |
for the period from 27 November 2020 to 30 November 2021 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Fixtures, fittings, tools and equipment |
over 3 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets, other than loans to the director, are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current periods. Current tax are not discounted. |
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2 |
Employees |
2021 |
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Number |
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Average number of persons employed by the company |
0 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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Additions |
1,678 |
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Disposals |
(1,678) |
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At 30 November 2021 |
- |
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Depreciation |
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Charge for the period |
559 |
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On disposals |
(559) |
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At 30 November 2021 |
- |
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Net book value |
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At 30 November 2021 |
- |
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4 |
Debtors |
2021 |
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£ |
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Other debtors |
32,555 |
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5 |
Creditors: amounts falling due within one year |
2021 |
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£ |
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Taxation and social security costs |
7,642 |
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Other creditors |
384 |
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8,026 |
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6 |
Loans to directors |
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Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
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C. Ball |
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Overdrawn director's loan account, interest free and repayable on demand. |
- |
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32,555 |
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- |
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32,555 |
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- |
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32,555 |
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- |
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32,555 |
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7 |
Other information |
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Lombarde Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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4 Belmont Road |
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Reigate |
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RH2 7EE |