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No description of principal activity
2016-08-30
Sage Accounts Production Advanced 2017 Update 4 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
10351683
2016-08-30
2017-08-31
10351683
2017-08-31
10351683
core:FurnitureFittings
2016-08-30
2017-08-31
10351683
bus:LeadAgentIfApplicable
2016-08-30
2017-08-31
10351683
bus:Director1
2016-08-30
2017-08-31
10351683
core:ShareCapital
2016-08-30
2017-08-31
10351683
core:RetainedEarningsAccumulatedLosses
2016-08-30
2017-08-31
10351683
core:WithinOneYear
2017-08-31
10351683
core:ShareCapital
2017-08-31
10351683
core:RetainedEarningsAccumulatedLosses
2017-08-31
10351683
bus:Director1
2017-08-31
10351683
bus:FRS102
2016-08-30
2017-08-31
10351683
bus:AuditExemptWithAccountantsReport
2016-08-30
2017-08-31
10351683
bus:AbridgedAccounts
2016-08-30
2017-08-31
10351683
bus:SmallCompaniesRegimeForAccounts
2016-08-30
2017-08-31
10351683
bus:PrivateLimitedCompanyLtd
2016-08-30
2017-08-31
Statement of Consent to Prepare Abridged Financial Statements
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|
All of the members of LCN Independent Assessment & Training Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
10351683
LCN Independent Assessment & Training Limited
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Filleted Unaudited Abridged Financial Statements
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|
LCN Independent Assessment & Training Limited
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Abridged Financial Statements
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Year ended 31 August 2017
Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements
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1
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Abridged statement of financial position
|
2
|
|
|
Statement of changes in equity
|
4
|
|
|
Notes to the abridged financial statements
|
5
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|
LCN Independent Assessment & Training Limited
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Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
LCN Independent Assessment & Training Limited
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Year ended 31 August 2017
As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 31 August 2017, which comprise the abridged statement of financial position, statement of changes in equity and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
MURRAY AND LAMB
Chartered accountant
5 Royal Road
Stanley
Co. Durham
DH9 8AJ
23 May 2018
LCN Independent Assessment & Training Limited
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Abridged Statement of Financial Position
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31 August 2017
Fixed assets
Current assets
Debtors
|
5,864
|
Cash at bank and in hand
|
4,783
|
|
--------
|
|
10,647
|
|
|
Creditors: amounts falling due within one year
|
5,388
|
|
--------
|
Net current assets
|
5,259
|
|
--------
|
Total assets less current liabilities
|
10,889
|
|
--------
|
Net assets
|
10,889
|
|
--------
|
|
|
Capital and reserves
Called up share capital
|
100
|
Profit and loss account
|
10,789
|
|
--------
|
Shareholders funds
|
10,889
|
|
--------
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|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the year ending 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
LCN Independent Assessment & Training Limited
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Abridged Statement of Financial Position (continued)
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|
31 August 2017
These abridged financial statements were approved by the
board of directors
and authorised for issue on
23 May 2018
, and are signed on behalf of the board by:
Company registration number:
10351683
LCN Independent Assessment & Training Limited
|
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Statement of Changes in Equity
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|
Year ended 31 August 2017
|
Called up share capital
|
Profit and loss account
|
Total
|
|
£
|
£
|
£
|
At 30 August 2016
|
–
|
–
|
–
|
|
|
|
|
Profit for the year
|
|
25,789
|
25,789
|
|
----
|
--------
|
--------
|
Total comprehensive income for the year
|
–
|
25,789
|
25,789
|
|
|
|
|
Issue of shares
|
100
|
–
|
100
|
Dividends paid and payable
|
–
|
(
15,000)
|
(
15,000)
|
|
----
|
--------
|
--------
|
Total investments by and distributions to owners
|
100
|
(
15,000)
|
(
14,900)
|
|
|
|
|
|
----
|
--------
|
--------
|
At 31 August 2017
|
100
|
10,789
|
10,889
|
|
----
|
--------
|
--------
|
|
|
|
|
LCN Independent Assessment & Training Limited
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Notes to the Abridged Financial Statements
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Year ended 31 August 2017
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 31 Vicarage Gardens, Willington, Crook, DL15 0UZ.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings
|
-
|
15% reducing balance
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
.
5.
Tangible assets
|
£
|
Cost
|
|
At 30 August 2016
|
–
|
Additions
|
6,624
|
|
-------
|
At 31 August 2017
|
6,624
|
|
-------
|
Depreciation
|
|
At 30 August 2016
|
–
|
Charge for the year
|
994
|
|
-------
|
At 31 August 2017
|
994
|
|
-------
|
Carrying amount
|
|
At 31 August 2017
|
5,630
|
|
-------
|
|
|
6.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
|
2017
|
|
|
Balance brought forward
|
Advances/ (credits) to the director
|
Balance outstanding
|
|
|
£
|
£
|
£
|
|
L C Newton
|
–
|
711
|
711
|
|
|
----
|
----
|
----
|
|
|
|
|
|