16 Lyme Street Limited - Filleted accounts

16 Lyme Street Limited - Filleted accounts

16 LYME STREET LIMITED - Company Information

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Registered number
05138810
16 Lyme Street Limited
Filleted Accounts
For the year ended 31 May 2019
ASVSH Accountancy Services Ltd
Chartered Certified Accountants
16 Lyme Street Limited
Registered number: 05138810
Balance Sheet
as at 31 May 2019
Notes 2019 2018
£ £
Fixed assets
Tangible assets 2 4 4
Current assets
Debtors 3 75 75
Cash at bank and in hand 7,152 5,151
7,227 5,226
Creditors: amounts falling due within one year 4 (7,227) (5,226)
Net current assets - -
Net assets 4 4
Capital and reserves
Called up share capital 4 4
Shareholders' funds 4 4
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Blanchard
Director
Approved by the board on 5 September 2019
16 Lyme Street Limited
Notes to the Accounts
for the year ended 31 May 2019
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
The company is a mutual trading entity, trading solely for the benefit of its members and therefore has no taxable turnover and no taxable profit, other than its investment income, which is taxed at the trust tax rate.
Freehold land and buildings, at cost
No depreciation is charged in respect of the freehold land and buildings, as in the director's opnion the value is greater than the amount shown in these financial statements.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Tangible fixed assets
Land and buildings
£
Cost
At 1 June 2018 4
At 31 May 2019 4
Depreciation
At 31 May 2019 -
Net book value
At 31 May 2019 4
At 31 May 2018 4
3 Debtors 2019 2018
£ £
Trade debtors 75 75
4 Creditors: amounts falling due within one year 2019 2018
£ £
J M Melmoth 1,605 1,123
A Canevari 1,605 1,123
S Blanchard 1,605 1,123
L M Kaye 1,605 1,123
Other creditors 807 734
7,227 5,226
5 Other information
16 Lyme Street Limited is a private company limited by shares and incorporated in England. Its registered office is:
16 Lyme Street
Camden Town
London
NW1 0EH
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