Company registration number 11510862 (England and Wales)
Langthorpe Living Ltd
Unaudited
Financial Statements
for the year ended 31 August 2022
PAGES FOR FILING WITH REGISTRAR
Langthorpe Living Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Langthorpe Living Ltd
Statement of financial position
as at 31 August 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
269,776
149,274
Current assets
Stocks
4
17,883
14,824
Debtors
5
41,727
Cash at bank and in hand
125,602
95,650
185,212
110,474
Creditors: amounts falling due within one year
6
(202,436)
(72,300)
Net current (liabilities)/assets
(17,224)
38,174
Total assets less current liabilities
252,552
187,448
Creditors: amounts falling due after more than one year
7
(38,090)
(42,933)
Provisions for liabilities
(30,478)
(22,399)
Net assets
183,984
122,116
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
183,983
122,115
Total equity
183,984
122,116
Langthorpe Living Ltd
Statement of financial position (continued)
as at 31 August 2022
- 2 -
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 20 October 2022
S Wade
Director
Company Registration No. 11510862
Langthorpe Living Ltd
Notes to the financial statements
for the year ended 31 August 2022
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention
.
The principal accounting policies adopted are set out below.
Turnover
Turnover
represents
the fair value of the consideration received for goods provided in the normal course of business
, and
is shown net of VA
T. Turnover is recognised on a cash basis.
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
10% straight line
Plant and equipment
20% straight line
Fixtures and fittings
20% straight line
Motor vehicles
25% reducing balance
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
income statement
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 26
(2021 - 20).
Langthorpe Living Ltd
Notes to the financial statements (continued)
for the year ended 31 August 2022
- 4 -
3
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2021
25,717
13,000
133,789
172,506
Additions
147,622
21,647
169,269
At 31 August 2022
25,717
13,000
281,411
21,647
341,775
Depreciation and impairment
At 1 September 2021
2,572
7,583
13,077
23,232
Depreciation charged in the year
2,572
2,600
42,689
906
48,767
At 31 August 2022
5,144
10,183
55,766
906
71,999
Carrying amount
At 31 August 2022
20,573
2,817
225,645
20,741
269,776
At 31 August 2021
23,145
5,417
120,712
149,274
4
Stocks
2022
2021
£
£
Stocks
17,883
14,824
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
41,727
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
5,000
5,004
Trade creditors
101,630
34,563
Corporation tax
221
Other taxation and social security
38,922
14,284
Other creditors
55,295
16,740
Accruals and deferred income
1,589
1,488
202,436
72,300
Langthorpe Living Ltd
Notes to the financial statements (continued)
for the year ended 31 August 2022
- 5 -
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
38,090
42,933
8
Company information
Langthorpe Living Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Grantham Arms, Milby, Boroughbridge, York, North Yorkshire, YO51 9BW.