IRIS Accounts Production v23.3.0.418 11477354 Board of Directors Board of Directors 1.8.22 31.7.23 31.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh114773542022-07-31114773542023-07-31114773542022-08-012023-07-31114773542021-07-31114773542021-08-012022-07-31114773542022-07-3111477354ns10:Originalns15:EnglandWales2022-08-012023-07-3111477354ns14:PoundSterlingns10:Original2022-08-012023-07-3111477354ns10:Originalns10:Director12022-08-012023-07-3111477354ns10:Original2022-08-012023-07-3111477354ns10:Originalns10:Director22022-08-012023-07-3111477354ns10:Original2023-07-3111477354ns10:Originalns10:PrivateLimitedCompanyLtd2022-08-012023-07-3111477354ns10:Originalns10:SmallEntities2022-08-012023-07-3111477354ns10:Originalns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3111477354ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3111477354ns10:SmallCompaniesRegimeForAccountsns10:Original2022-08-012023-07-3111477354ns10:Originalns10:FullAccounts2022-08-012023-07-3111477354ns10:CompanySecretary1ns10:Original2022-08-012023-07-3111477354ns10:Originalns10:RegisteredOffice2022-08-012023-07-3111477354ns10:Original2022-07-3111477354ns10:Originalns5:CurrentFinancialInstruments2023-07-3111477354ns10:Originalns5:CurrentFinancialInstruments2022-07-3111477354ns5:ShareCapitalns10:Original2023-07-3111477354ns5:ShareCapitalns10:Original2022-07-3111477354ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-07-3111477354ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3111477354ns10:Originalns5:PlantMachinery2022-08-012023-07-3111477354ns10:Originalns5:MotorVehicles2022-08-012023-07-3111477354ns10:Originalns5:ComputerEquipment2022-08-012023-07-3111477354ns10:Original2021-08-012022-07-3111477354ns10:Originalns5:PlantMachinery2022-07-3111477354ns10:Originalns5:MotorVehicles2022-07-3111477354ns10:Originalns5:ComputerEquipment2022-07-3111477354ns10:Original2022-07-3111477354ns10:Originalns5:PlantMachinery2023-07-3111477354ns10:Originalns5:MotorVehicles2023-07-3111477354ns10:Originalns5:ComputerEquipment2023-07-3111477354ns10:Originalns5:PlantMachinery2022-07-3111477354ns10:Originalns5:MotorVehicles2022-07-3111477354ns10:Originalns5:ComputerEquipment2022-07-3111477354ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3111477354ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-31
REGISTERED NUMBER: 11477354 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

LORNE LOFTS LTD

LORNE LOFTS LTD (REGISTERED NUMBER: 11477354)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LORNE LOFTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Ms H Phillips
N T Shirley





SECRETARY:





REGISTERED OFFICE: 65 Capel Road
London
E7 0JR





REGISTERED NUMBER: 11477354 (England and Wales)





ACCOUNTANTS: Tish Press & Company
Create Business Hub
Ground Floor
5 Rayleigh Road
Hutton, Brentwood.
Essex
CM13 1AB

LORNE LOFTS LTD (REGISTERED NUMBER: 11477354)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,230 33,168

CURRENT ASSETS
Stocks 100,222 79,047
Debtors 5 64,425 62,808
Cash at bank and in hand 380 8,419
165,027 150,274
CREDITORS
Amounts falling due within one year 6 96,658 90,850
NET CURRENT ASSETS 68,369 59,424
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,599

92,592

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 95,597 92,590
SHAREHOLDERS' FUNDS 95,599 92,592

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

LORNE LOFTS LTD (REGISTERED NUMBER: 11477354)

BALANCE SHEET - continued
31 JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 4 March 2024 and were signed on its behalf by:




N T Shirley - Director



Ms H Phillips - Director


LORNE LOFTS LTD (REGISTERED NUMBER: 11477354)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Lorne Lofts 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 (2022 - 2 ) .

LORNE LOFTS LTD (REGISTERED NUMBER: 11477354)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 660 51,456 - 52,116
Additions - - 944 944
At 31 July 2023 660 51,456 944 53,060
DEPRECIATION
At 1 August 2022 424 18,524 - 18,948
Charge for year 59 6,587 236 6,882
At 31 July 2023 483 25,111 236 25,830
NET BOOK VALUE
At 31 July 2023 177 26,345 708 27,230
At 31 July 2022 236 32,932 - 33,168

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,150 9,745
Amounts owed by participating interests 54,275 53,063
64,425 62,808

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 28,333 38,333
Trade creditors 37,730 5,140
Tax 14,658 29,427
Social security and other taxes (746 ) (1,581 )
VAT 15,347 18,101
Other creditors - 230
Directors' current accounts 136 -
Accruals and deferred income 1,200 1,200
96,658 90,850