REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2020 |
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L & J HOSPITALITY LTD. |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2020 |
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FOR |
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L & J HOSPITALITY LTD. |
L & J HOSPITALITY LTD. (REGISTERED NUMBER: 06604010) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 May 2020 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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L & J HOSPITALITY LTD. |
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COMPANY INFORMATION |
For The Year Ended 31 May 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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4 Office Village |
Forder Way |
Cygnet Park, Hampton |
Peterborough |
Cambridgeshire |
PE7 8GX |
L & J HOSPITALITY LTD. (REGISTERED NUMBER: 06604010) |
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STATEMENT OF FINANCIAL POSITION |
31 May 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
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PROVISIONS FOR LIABILITIES |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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L & J HOSPITALITY LTD. (REGISTERED NUMBER: 06604010) |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 May 2020 |
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1. | STATUTORY INFORMATION |
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L & J Hospitality Ltd. is a
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L & J Hospitality Ltd is a private limited company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below: |
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Registered Number: 06604010 |
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Registered office: The Queens Head, Main Street, Bulwick, Corby, Northamptonshire, England, NN17 3DY. |
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The presentation currency is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
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Government grants |
Government grants relating to the Coronavirus Job Retention Scheme are recognised in income in the period in which it becomes receivable under the performance model. |
L & J HOSPITALITY LTD. (REGISTERED NUMBER: 06604010) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 May 2020 |
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3. | ACCOUNTING POLICIES - continued |
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Going concern and covid-19 |
The coronavirus pandemic has significantly disrupted individuals' personal lives and |
businesses' economic prospects in the UK and across the globe. The UK entered lockdown |
in March 2020 and some restrictions and social distancing provisions remain in place. |
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The effect of COVID-19 on the company has resulted in long periods of time where the business has had to remain closed and has placed unforeseen strain on our working capital and cash |
resources. Despite trading difficulties, we have managed to conserve sufficient cash to ensure that the business has continued to serve customers and to act responsibly with suppliers and employees. We |
have taken advantage of government assistance including the Coronavirus Job Retention Scheme. |
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We have continued to prepare the accounts on a going concern basis and deem this |
appropriate on the basis that the directors have agreed to financially support this company for a period of 12 months from the date of these financial statements. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 June 2019 |
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Additions |
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Disposals | ( |
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At 31 May 2020 |
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DEPRECIATION |
At 1 June 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 May 2020 |
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NET BOOK VALUE |
At 31 May 2020 |
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At 31 May 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
PDQ Suspense account | - | 4,049 |
Other debtors |
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Six Bells Ltd | - | (94,316 | ) |
LJT Enterprise ltd | - | 8,855 |
Rent deposit | - | 12,500 |
Directors' loan accounts | 7,058 | - |
Deferred tax asset |
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Prepayments and accrued income |
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L & J HOSPITALITY LTD. (REGISTERED NUMBER: 06604010) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 May 2020 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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VAT | 13,945 | 8,642 |
Other creditors |
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Net pay | 320 | 102 |
Credit card | 283 | 777 |
Pensions control | 809 | - |
Directors' loan accounts | - | 89,547 |
Accruals and deferred income |
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8. | OTHER FINANCIAL COMMITMENTS |
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At 31 May 2020 the company had other financial commitments of £97,417 (2019: £122,417) |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 May 2020 and 31 May 2019: |
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2020 | 2019 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The above loans are unsecured and repayable upon demand. |