Lagonda Club Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02166365 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

LAGONDA CLUB LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J D Sword

A Davey

K P Painter

A D M Gregg

J R H Brown

C Hobbs

P W Gilkes

R P M Reay-Smith

B J Green

R M Seabrook

SECRETARY:

A D M Gregg

REGISTERED OFFICE:

6 Queen Square

Bristol

BS1 4JE

REGISTERED NUMBER:

02166365 (England and Wales)

ACCOUNTANTS:

Mani Chacko & Co. Ltd.

Authorised Public Accountants

3 Ballards Rise

South Croydon

Surrey

CR2 7JT

FIXED ASSETS

Tangible assets

2

12,705

13,368

CURRENT ASSETS

Stocks

237,973

238,977

Debtors

4,020

15,023

Prepayments and accrued income

4,303

4,914

Cash at bank and in hand

120,447

88,999

366,743

347,913

CREDITORS

Amounts falling due within one year

39,331

43,359

NET CURRENT ASSETS

327,412

304,554

TOTAL ASSETS LESS CURRENT LIABILITIES

340,117

317,922

RESERVES

Revaluation reserve

4,327

4,327

Income and expenditure account

335,790

313,595

340,117

317,922

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 surplus or deficit 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23 July 2015 and were signed on its behalf by:

J D Sword - Director

B J Green - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

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

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income and expenditure account on a straight

line basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

44,336

Additions

1,500

At 31 March 2015

45,836

DEPRECIATION

At 1 April 2014

30,968

Charge for year

2,163

At 31 March 2015

33,131

NET BOOK VALUE

At 31 March 2015

12,705

At 31 March 2014

13,368