Statement of Consent to Prepare Abridged Financial Statements
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All of the members of LAMINGTON LONDON LTD have consented to the preparation of the abridged statement of financial position for the year ending 28 February 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
10031254
Filleted Unaudited Abridged Financial Statements
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Abridged Financial Statements
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Year ended 28 February 2017
Abridged statement of financial position
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1
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Statement of changes in equity
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2
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Notes to the abridged financial statements
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3
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The following pages do not form part of the abridged financial statements
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements
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6
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Abridged Statement of Financial Position
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28 February 2017
Current assets
Cash at bank and in hand
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7,012
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Creditors: amounts falling due within one year
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19,903
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--------
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Net current liabilities
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12,891
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Total assets less current liabilities
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(
12,891)
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Net liabilities
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(
12,891)
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--------
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Capital and reserves
Called up share capital
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100
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Profit and loss account
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(
12,991)
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--------
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Shareholders deficit
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(
12,891)
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--------
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
30 November 2017
, and are signed on behalf of the board by:
Company registration number:
10031254
Statement of Changes in Equity
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Year ended 28 February 2017
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Called up share capital
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Profit and loss account
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Total
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£
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£
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£
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At 29 February 2016
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–
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–
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–
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Loss for the year
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(
12,991)
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(
12,991)
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----
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Total comprehensive income for the year
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–
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(
12,991)
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(
12,991)
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Issue of shares
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100
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–
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100
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----
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----
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----
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Total investments by and distributions to owners
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100
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–
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100
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----
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At 28 February 2017
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100
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(
12,991)
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(
12,891)
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Notes to the Abridged Financial Statements
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Year ended 28 February 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Avondale House, 262 Uxbridge Road, Hatch End, Middlesex, HA5 4HS, England.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 March 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 5.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
4.
Related party transactions
The company was under the control of Mr John Francis Carey and his close family throughout the current year. Mr J Carey is the managing director. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.
5.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 March 2015.
No transitional adjustments were required in equity or profit or loss for the year.
Year ended 28 February 2017
The following pages do not form part of the abridged financial statements.
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
LAMINGTON LONDON LTD
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Year ended 28 February 2017
As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 28 February 2017, which comprise the abridged statement of financial position, statement of changes in equity and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
ASCOT SINCLAIR ASSOCIATES
Chartered accountant
Avondale House
262 Uxbridge Road
Hatch End
HA5 4HS
30 November 2017