LOWE_&_SIMPSON_GROUP_LIMI - Accounts
LOWE_&_SIMPSON_GROUP_LIMI - Accounts
Company Registration No. 01425179 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2014
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 6
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Investments
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(429,316 )
(473,282 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
4
(504,920 )
(564,642 )
Provisions for liabilities
(54,770 )
(58,193 )
1,333,025
1,344,926
Capital and reserves
Called up share capital
5
Other reserves
(49,891 )
Profit and loss account
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2014
- 2 -
Directors' responsibilities:
-
-
Approved by the Board for issue on 28 May 2015
Director
Company Registration No. 01425179
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Land and buildings
Plant and machinery
Office and computer equipment
Motor vehicles
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Investments
Investments are included at cost less amounts written off. Profits or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.9
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.10
Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2014
1
Accounting policies
(Continued)
- 4 -
1.11
Group accounts
The accounts contain information about Lowe & Simpson Group Limited as an individual company and do not contain consolidation financial information as the parent of a group. The company is exempt under section 248 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as the group it heads qualifies as a small group.
Details of the results of the subsidiary are shown in the notes to the financial statements.
Details of the results of the subsidiary are shown in the notes to the financial statements.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost or valuation
At 1 October 2013
1,001
2,557,063
Additions
-
38,894
At 30 September 2014
1,001
2,595,957
Depreciation
At 1 October 2013
-
1,215,668
Charge for the year
-
90,981
At 30 September 2014
-
1,306,649
Net book value
At 30 September 2014
1,289,308
At 30 September 2013
1,341,395
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Ordinary
Ordinary
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2014
2
Fixed assets
(Continued)
- 5 -
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2014
2014
Principal activity
£
£
1
-
(1,577)
-
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £564,558 (2013 - £624,279).
4
Creditors: amounts falling due after more than one year
2014
2013
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
264,375
324,098
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2014
- 6 -
5
Share capital
2014
2013
£
£
Allotted, called up and fully paid
The rights attached to the shares are as follows:
Income - ordinary shares and A ordinary shares rank pari passu in relation to payment of dividend. The A, B, C, D and E redeemable shares shall not be entitled to the payment of a dividend. No dividend can be declared until all A, B and C redeemable shares have been redeemed.
Voting - only the ordinary shares and A ordinary shares have voting rights except in exceptional circumstances as indicated in the Articles.
Redemption - there is no formal fixed date of redemption on the A, B, C, D or E redeemable shares.
Capital - on winding up repayment of capital is prioritised firstly to A and B redeemable shares, then C redeemable shares, then D and E redeemable shares. Any balances remaining would then be distributed to ordinary and A ordinary shareholders.
During the year the company redeemed 31 C shares in accordance with the share holders agreement dated 31 March 2008.
6
Control
As in the previous year, the company is controlled by Mr J S Haddon, director, by virtue of his majority shareholding.