REGISTERED NUMBER: 06879217 (England and Wales)

Unaudited Financial Statements

for the Period 28 July 2016 to 26 July 2017

for

A & G Lyford Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

17,800

26,700

Tangible assets

5

-

-

17,800

26,700

CURRENT ASSETS

Stocks

15,206

18,360

Debtors

6

5,000

5,062

Cash in hand

1,067

3,167

21,273

26,589

CREDITORS

Amounts falling due within one year

7

37,440

35,613

NET CURRENT LIABILITIES

(16,167

)

(9,024

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,633

17,676

CREDITORS

Amounts falling due after more than one year

8

10,589

18,747

NET LIABILITIES

(8,956

)

(1,071

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(9,056

)

(1,171

)

SHAREHOLDERS' FUNDS

(8,956

)

(1,071

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 26 July 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 26 July 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 11 July 2018 and were signed on its behalf by:

Mr A F Lyford - Director

1.	STATUTORY INFORMATION

A & G Lyford Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address are as below:

Registered number:

06879217

Registered office:

37 Derby Street

Leek

Staffs

ST13 6HU

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis notwithstanding the deficit in net

assets. The main creditor of the company is the bank which is owed £10,589 (2016 - £18,747). The directors

are satisfied that the shareholders are prepared to continue to support the development of the company for

the next year.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the period ended 26 July 2017 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 29 July 2015.

There are no transition adjustments.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2016 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 28 July 2016

and 26 July 2017

89,000

AMORTISATION

At 28 July 2016

62,300

Charge for period

8,900

At 26 July 2017

71,200

NET BOOK VALUE

At 26 July 2017

17,800

At 27 July 2016

26,700

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 28 July 2016

and 26 July 2017

1,000

DEPRECIATION

At 28 July 2016

and 26 July 2017

1,000

NET BOOK VALUE

At 26 July 2017

-

At 27 July 2016

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

5,000

5,062

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

11,394

11,050

Trade creditors

17,633

12,269

Taxation and social security

2,289

2,855

Other creditors

6,124

9,439

37,440

35,613

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

10,589

18,747

9.	OTHER FINANCIAL COMMITMENTS

The financial commitment for rent, which is not included in the balance sheet amounts to £37,923 (2016 :

£54,923). This financial commitment represents the total amount of payments due for the rent lease ending in

2019.