Company Registration No. 05524790 (England and Wales)
LEX FORT LIMITED
Unaudited accounts
for the year ended 31 August 2017
LEX FORT LIMITED
Unaudited accounts
Contents
LEX FORT LIMITED
Company Information
for the year ended 31 August 2017
Directors
MARK SWAN
PETER HORNSEY
Company Number
05524790 (England and Wales)
Registered Office
16-18 WOODFORD ROAD
FOREST GATE
LONDON
E7 0HA
LEX FORT LIMITED
Statement of financial position
as at
31 August 2017
Tangible assets
357,679
357,489
Cash at bank and in hand
59,610
1,909
Creditors: amounts falling due within one year
(28,848)
(65,832)
Net current assets/(liabilities)
237,122
(59,033)
Total assets less current liabilities
594,801
298,456
Creditors: amounts falling due after more than one year
(668,097)
(360,582)
Provisions for liabilities
Net liabilities
(73,386)
(62,178)
Called up share capital
1,000
1,000
Profit and loss account
(74,386)
(63,178)
Shareholders' funds
(73,386)
(62,178)
For the year ending 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 8 May 2018.
PETER HORNSEY
Director
Company Registration No. 05524790
LEX FORT LIMITED
Notes to the Accounts
for the year ended 31 August 2017
LEX FORT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05524790. The registered office is 16-18 WOODFORD ROAD, FOREST GATE, LONDON, E7 0HA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the gross rental income received by the company.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Depreciation is not provided on investment property assets as any depreciation charge would be immaterial FRS 102 (17.6).
Plant & machinery
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on investment properties as cost method is applied under FRS 102 (17.1).
Investment property is included at cost and is not revalued. FRS 102 (17.1) and (17.15a) apply. Furthermore depreciation is not provided as exempted under FRS 102 (17.16).
Deferred tax is not provided on investment properties as cost method is applied under FRS 102 (17.1).
LEX FORT LIMITED
Notes to the Accounts
for the year ended 31 August 2017
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 September 2016
357,227
3,183
360,410
At 31 August 2017
357,227
3,523
360,750
At 1 September 2016
-
2,921
2,921
Charge for the year
-
150
150
At 31 August 2017
-
3,071
3,071
At 31 August 2017
357,227
452
357,679
At 31 August 2016
357,227
262
357,489
Trade debtors
22,960
4,890
Amounts due from group undertakings etc.
183,400
-
6
Creditors: amounts falling due within one year
2017
2016
Trade creditors
2,497
5,890
Other creditors
5,161
4,261
Loans from directors
21,190
55,681
7
Creditors: amounts falling due after more than one year
2017
2016
Bank loans
580,923
273,928
Amounts owed to group undertakings and other participating interests
87,174
86,654
8
Share capital
2017
2016
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
9
Average number of employees
During the year the average number of employees was 0 (2016: 0).