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M. J. LAVIN PLANT AND MACHINERY LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 30th June 2018 |
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M. J. LAVIN PLANT AND MACHINERY LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 30th June 2018 |
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M. J. LAVIN PLANT AND MACHINERY LIMITED (REGISTERED NUMBER: 03938335) |
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Contents of the Financial Statements |
for the year ended 30th June 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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M. J. LAVIN PLANT AND MACHINERY LIMITED |
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Company Information |
for the year ended 30th June 2018 |
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DIRECTOR: |
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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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1 Abbots Quay |
Monks Ferry |
Birkenhead |
Merseyside |
CH41 5LH |
M. J. LAVIN PLANT AND MACHINERY LIMITED (REGISTERED NUMBER: 03938335) |
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Balance Sheet |
30th June 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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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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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET 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 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 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. |
M. J. LAVIN PLANT AND MACHINERY LIMITED (REGISTERED NUMBER: 03938335) |
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Balance Sheet - continued |
30th June 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 director on
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M. J. LAVIN PLANT AND MACHINERY LIMITED (REGISTERED NUMBER: 03938335) |
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Notes to the Financial Statements |
for the year ended 30th June 2018 |
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1. | STATUTORY INFORMATION |
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M. J. Lavin Plant and Machinery Limited is a
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Wales. The company's 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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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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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 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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
M. J. LAVIN PLANT AND MACHINERY LIMITED (REGISTERED NUMBER: 03938335) |
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Notes to the Financial Statements - continued |
for the year ended 30th June 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
element of the future payments is treated as a liability. |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice |
of not more than 24 hours. |
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Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are |
measured initially at fair value, net of transaction costs, and are measured subsequently at fair value, net of |
transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
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Financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial assets and |
liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to |
related parties. |
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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. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st July 2017 |
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Additions |
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Disposals |
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( |
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( |
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At 30th June 2018 |
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DEPRECIATION |
At 1st July 2017 |
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Charge for year |
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Transfer to ownership | - | (1 | ) | - | - | (1 | ) |
At 30th June 2018 |
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NET BOOK VALUE |
At 30th June 2018 |
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At 30th June 2017 |
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M. J. LAVIN PLANT AND MACHINERY LIMITED (REGISTERED NUMBER: 03938335) |
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Notes to the Financial Statements - continued |
for the year ended 30th June 2018 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1st July 2017 |
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Additions |
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Transfer to ownership | (6,500 | ) | - | (6,500 | ) |
At 30th June 2018 |
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DEPRECIATION |
At 1st July 2017 |
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Charge for year |
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Transfer to ownership | (1,679 | ) | - | (1,679 | ) |
At 30th June 2018 |
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NET BOOK VALUE |
At 30th June 2018 |
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At 30th June 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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M. J. LAVIN PLANT AND MACHINERY LIMITED (REGISTERED NUMBER: 03938335) |
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Notes to the Financial Statements - continued |
for the year ended 30th June 2018 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Hire purchase contracts | 23,154 | 6,546 |
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Hire purchase liabilities are secured on the assets to which they relate. |
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9. | RELATED PARTY DISCLOSURES |
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The bank overdraft is guaranteed by M J Lavin up to a limit of £80,000. |
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Included in other creditors is the sum of £22,115 (2017 - £22,115) owing to Bucketloads Limited, a company of |
which M J Lavin is a director and shareholder. |
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Included in other creditors is the amount of £491,635 (2017 - £379,862) owing to M J Lavin, the director of the |
company. |
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10. | ULTIMATE CONTROLLING PARTY |
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The controlling party is M J Lavin. |