Registered number
10172495
Loynton Lakes Limited
Filleted Accounts
31 May 2023
Loynton Lakes Limited
Registered number: 10172495
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,700 3,700
Current assets
Stocks 500 3,000
Debtors 4 - 400
Cash at bank and in hand 281 281
781 3,681
Creditors: amounts falling due within one year 5 2,230 3,239
Net current assets 3,011 6,920
Total assets less current liabilities 6,711 10,620
Creditors: amounts falling due after more than one year 6 (6,641) (10,546)
Net assets 70 74
Capital and reserves
Called up share capital 100 100
Profit and loss account (30) (26)
Shareholders' funds 70 74
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L England
Director
Approved by the board on 27 January 2024
Loynton Lakes Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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 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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 3,700
At 31 May 2023 3,700
Depreciation
At 31 May 2023 -
Net book value
At 31 May 2023 3,700
At 31 May 2022 3,700
4 Debtors 2023 2022
£ £
Trade debtors - 400
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,987 3,908
Trade creditors 1,874 -
Corporation tax 575 975
Other taxes and social security costs 221 384
Other creditors (7,887) (8,506)
(2,230) (3,239)
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 6,641 10,546
7 Controlling party
The company is controlled by the director who owns 51% of the called up share capital.
8 Other information
Loynton Lakes Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Rookery
Loynton
Stafford
ST20 0QA
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