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Unaudited Financial Statements for the Year Ended 31 March 2019 |
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Laurence Vaughan Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2019 |
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for |
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Laurence Vaughan Limited |
Laurence Vaughan Limited (Registered number: 08363708) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Laurence Vaughan Limited |
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Company Information |
for the Year Ended 31 March 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1 Pinnacle Way |
Pride Park |
Derby |
Derbyshire |
DE24 8ZS |
Laurence Vaughan Limited (Registered number: 08363708) |
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Balance Sheet |
31 March 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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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 director on
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Laurence Vaughan Limited (Registered number: 08363708) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Laurence Vaughan Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | 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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Mr Vaughan's SIPP, which owns shares in Catapult Ultimate Holdings Limited has historically waived dividend income |
from Catapult Ultimate Holdings Limited because fee income was being charged to Catapult Ultimate Holdings Limited |
from Mr Vaughan's company Laurence Vaughan Limited. However, these waivers have resulted in an unauthorised |
payment tax charge on income, whilst the same income has suffered a Corporation tax charge in this Limited company. |
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Consequently, turnover has been reduced by £286,000 this year in relation to waived dividend income from Catapult |
Ultimate Holdings Limited which has been subject to an unauthorised payment tax charge, to avoid a double charge to tax |
on these amounts. |
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Goodwill |
Purchased goodwill is amortised at rates calculated to write off the assets on a straight line basis over their estimated useful |
economic lives as follows: |
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Goodwill - twenty years |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any |
accumulated amortisation and any accumulated impairment losses. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 -
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Laurence Vaughan Limited (Registered number: 08363708) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
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AMORTISATION |
At 1 April 2018 |
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Amortisation for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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Goodwill arose on the purchase of the company's share in Opus Ventures LLP. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Fee income receivable |
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Other debtors |
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149,818 |
Directors' current accounts |
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Other than as stated under directors loan account above, none of the above amounts related to amounts due from the |
director or shareholder of the company either directly or indirectly. |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Tax |
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VAT |
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Due to Opus Ventures LLP |
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Accruals and deferred income |
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Laurence Vaughan Limited (Registered number: 08363708) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 |
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Ordinary B | £1 | 100 | 100 |
200 | 200 |
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8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2019 and 31 March 2018: |
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2019 | 2018 |
£ | £ |
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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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Interest has been charged on the loan account at a rate of 2.5% per annum. |