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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30th April 2019 |
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LOMAS OFFICE FURNITURE & STATIONERY |
LIMITED |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30th April 2019 |
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for |
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LOMAS OFFICE FURNITURE & STATIONERY |
LIMITED |
LOMAS OFFICE FURNITURE & STATIONERY |
LIMITED (REGISTERED NUMBER: 05796913) |
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Contents of the Financial Statements |
for the Year Ended 30th April 2019 |
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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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LOMAS OFFICE FURNITURE & STATIONERY |
LIMITED |
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Company Information |
for the Year Ended 30th April 2019 |
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DIRECTORS: |
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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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Chartered Certified Accountants |
41 St Thomas's Road |
Chorley |
Lancashire |
PR7 1JE |
LOMAS OFFICE FURNITURE & STATIONERY |
LIMITED (REGISTERED NUMBER: 05796913) |
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Balance Sheet |
30th April 2019 |
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30.4.19 | 30.4.18 |
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 |
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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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( |
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PROVISIONS FOR LIABILITIES |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) |
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. |
LOMAS OFFICE FURNITURE & STATIONERY |
LIMITED (REGISTERED NUMBER: 05796913) |
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Balance Sheet - continued |
30th April 2019 |
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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
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LOMAS OFFICE FURNITURE & STATIONERY |
LIMITED (REGISTERED NUMBER: 05796913) |
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Notes to the Financial Statements |
for the Year Ended 30th April 2019 |
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1. | STATUTORY INFORMATION |
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Lomas Office Furniture & Stationery 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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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts |
received for goods supplied, stated net of discounts and of Value Added Tax. |
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Income is recognised when goods have been delivered to customers such that risks and rewards of ownership |
have transferred to them. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets |
have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any |
affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the |
carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised |
immediately in profit or loss. |
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If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of |
its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss |
been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit |
or loss. |
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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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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 |
'Other Financial Instruments' of FRS 102 to all its financial instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes party to the |
contractual provisions of the instrument. |
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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. |
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LOMAS OFFICE FURNITURE & STATIONERY |
LIMITED (REGISTERED NUMBER: 05796913) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th April 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, |
when applicable, are shown within borrowings in current liabilities. |
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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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LOMAS OFFICE FURNITURE & STATIONERY |
LIMITED (REGISTERED NUMBER: 05796913) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th April 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st May 2018 |
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Additions |
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Disposals |
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At 30th April 2019 |
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DEPRECIATION |
At 1st May 2018 |
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Charge for year |
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Eliminated on disposal |
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At 30th April 2019 |
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NET BOOK VALUE |
At 30th April 2019 |
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At 30th April 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.19 | 30.4.18 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.19 | 30.4.18 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 12,691 | 18,702 |
Directors' current accounts | 6,198 | 26,515 |
Accruals and deferred income |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.4.19 | 30.4.18 |
£ | £ |
Director's loan account |
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LOMAS OFFICE FURNITURE & STATIONERY |
LIMITED (REGISTERED NUMBER: 05796913) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th April 2019 |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.4.19 | 30.4.18 |
£ | £ |
Within one year |
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9. | SECURED DEBTS |
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The company's bank overdraft facility is secured by the bank, by way of a fixed and floating charge over all of |
the company's assets. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.19 | 30.4.18 |
value: | £ | £ |
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Ordinary | £1 | 105 | 105 |
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11. | RELATED PARTY DISCLOSURES |
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As at 30th April 2019, the company owed to its directors £156,198 (2018: £96,515). No Interest has been |
charged to the company in respect of this loan and there is no formal repayment date for this loan, £150,000 |
(2018: £70,000) of the loan is classified in creditors due after more than one year. |
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The company traded from a premises owned by Mr & Mrs Lomas, directors of the company, no rent was paid to |
the directors for use of the building. |
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12. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Mr & Mrs Lomas. |
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During the year, the directors Mr & Mrs Lomas controlled the company by virtue of holding 95% issued share |
capital. |