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COMPANY REGISTRATION NUMBER: 10614698
LUDDITE INDUSTRIES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2022
LUDDITE INDUSTRIES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2022
Contents
Page
Balance sheet 1
Notes to the financial statements 2
LUDDITE INDUSTRIES LIMITED
BALANCE SHEET
28 February 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
5
43,078
51,820
Investments
6
1
1
------------
------------
43,079
51,821
Current assets
Debtors
7
47,921
56,597
Cash at bank and in hand
288
1,009
------------
------------
48,209
57,606
Creditors: amounts falling due within one year
8
( 119,516)
( 125,353)
------------
------------
Net current liabilities
( 71,307)
( 67,747)
------------
------------
Total assets less current liabilities
( 28,228)
( 15,926)
------------
------------
Net liabilities
( 28,228)
( 15,926)
------------
------------
Capital and reserves
Called up share capital
9
1
1
Profit and loss account
( 28,229)
( 15,927)
------------
------------
Shareholders deficit
( 28,228)
( 15,926)
------------
------------
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 Section 1A of 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 profit and loss account has not been delivered.
For the year ending 28 February 2022 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 6 September 2022 , and are signed on behalf of the board by:
G Portman
I Sizer
Director
Director
Company registration number: 10614698
LUDDITE INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Calder Vale Hotel, Millfield Road, Horbury, Wakefield, WF4 5EB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the value of goods sold and services provided net of value added tax.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
10 years straight line
Motor vehicles
-
25% reducing balance
Equipment
-
5 years straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
4. Turnover
The company's turnover is derived entirely within the United Kingdom.
5. Tangible assets
Property improvements
Equipment
Total
£
£
£
Cost
At 1 March 2021
18,739
58,265
77,004
Additions
925
925
------------
------------
------------
At 28 February 2022
18,739
59,190
77,929
------------
------------
------------
Depreciation
At 1 March 2021
10,097
15,087
25,184
Charge for the year
3,747
5,920
9,667
------------
------------
------------
At 28 February 2022
13,844
21,007
34,851
------------
------------
------------
Carrying amount
At 28 February 2022
4,895
38,183
43,078
------------
------------
------------
At 28 February 2021
8,642
43,178
51,820
------------
------------
------------
6. Investments
Shares in group undertakings
£
Cost
At 1 March 2021 and 28 February 2022
1
------------
Impairment
At 1 March 2021 and 28 February 2022
------------
Carrying amount
At 28 February 2022
1
------------
At 28 February 2021
1
------------
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Luddite Brewing Company Limited
Ordinary
100
7. Debtors
2022
2021
£
£
Amounts owed by group undertakings
47,681
56,597
Other debtors
240
------------
------------
47,921
56,597
------------
------------
8. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
380
380
Accruals and deferred income
1,000
1,000
Social security and other taxes
5,836
Director loan accounts
118,136
118,137
------------
------------
119,516
125,353
------------
------------
9. Called up share capital
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 0.01 each
100
1
100
1
------------
------------
------------
------------
10. Related party transactions
The directors' loans above are unsecured, repayable on demand and currently interest free. There is no one controlling party of the company.
11. Going concern
The directors will secure adequate working capital to enable the company to trade until at least 31 August 2023. Accordingly, the accounts have been prepared on a going concern basis.