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Unaudited Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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LOM Enterprises Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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LOM Enterprises Ltd |
LOM Enterprises Ltd (Registered number: 10038220) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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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 | 4 |
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LOM Enterprises Ltd |
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Company Information |
for the Year Ended 31 March 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Bank Chambers |
61 High Street |
Cranbrook |
Kent |
TN17 3EG |
LOM Enterprises Ltd (Registered number: 10038220) |
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Balance Sheet |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
5 |
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NET LIABILITIES | ( |
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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: |
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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. |
LOM Enterprises Ltd (Registered number: 10038220) |
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Balance Sheet - continued |
31 March 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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LOM Enterprises Ltd (Registered number: 10038220) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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LOM Enterprises Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet 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 |
balance sheet 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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Inventory |
The company's development property is valued at the lower of cost and net realisable value. The costs |
incorporate the cost of acquisition, incidental costs of purchase, interest incurred on the loan specifically taken |
out to fund the acquisition and development as well as the costs of conversion. |
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Going concern |
The accounts have been prepared on a goring concern basis as the director has indicated that he will not |
require that the loan he has made to the company be repaid until the development property is sold and he will |
provide sufficient funds to ensure the company can meet its financial obligations as they fall due. |
LOM Enterprises Ltd (Registered number: 10038220) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade creditors |
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Other creditors |
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5. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Other creditors |
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6. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.18 | 31.3.17 |
£ | £ |
Loan from SSAS | 606,436 | 781,233 |
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The loan from the Kinder Nurseries Pension Trust is secured by a charge against the development property at |
Birbeck Road & 2 Clarence Crescent, Sidcup, Kent dated 17 March 2016. |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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At 30 March 2018, the director has made a loan of £1,603,189 to the company. There is no formal |
arrangement for repayment of this loan and no interest is charged. The director has indicated that he will not |
require that the loan he has made to the company be repaid until the flats in the development property are |
sold. |