Company Registration No. 06804177 (England and Wales)
LOCOMOTIVE 60019 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
LOCOMOTIVE 60019 LIMITED
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,638,075
1,638,075
Current assets
Debtors
4
389
442
Creditors: amounts falling due within one year
5
(407,623)
(402,169)
Net current liabilities
(407,234)
(401,727)
Total assets less current liabilities
1,230,841
1,236,348
Capital and reserves
Called up share capital
6
2
2
Share premium account
1,813,993
1,813,993
Profit and loss reserves
(583,154)
(577,647)
Total equity
1,230,841
1,236,348
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2018 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 members have 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 25 October 2018
Mr J Hosking
Director
Company Registration No. 06804177
LOCOMOTIVE 60019 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 2 -
1
Accounting policies
Company information
Locomotive 60019 Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Craven House, 16 Northumberland Avenue, London, United Kingdom, WC2N 5AP.
1.1
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.
1.2
Going concern
Due to the continued support of the shareholder, the Company is considered to be a going concern.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
An impairment review is conducted each year. Should any impairment or movement in impairment arise from this review, this will be charged to the profit and loss account in the period in which it occurs. The Director considers the assets to appreciate in value and therefore that this accounting policy results in the accounts giving a true and fair view.
1.4
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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 company after deducting all of its liabilities.
LOCOMOTIVE 60019 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price.
Financial liabilities classified as payable within one year are not amortised.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2017 - 0).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2017 and 31 March 2018
1,938,075
Depreciation and impairment
At 1 April 2017 and 31 March 2018
300,000
Carrying amount
At 31 March 2018
1,638,075
At 31 March 2017
1,638,075
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
389
442
LOCOMOTIVE 60019 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 4 -
5
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
-
286
Other creditors
407,623
401,883
407,623
402,169
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
7
Related party transactions
The Company does not have a bank account, and cash transactions are processed through Locomotive Services Limited, a company under common control which is incorporated in England and Wales. During the year, Locomotive Services paid gross expenses on behalf of the Company of £6,783 (2017: £4,996). As at 31 March 2018 the Company owed Locomotive Services Limited £405,650 (2017: £399,683).