L_G_RESIDENTIAL_PROPERTIE - Accounts

LG RESIDENTIAL PROPERTIES LIMITED - Company Information

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Company Registration No. 05720676 (England and Wales)

L G RESIDENTIAL PROPERTIES LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

L G RESIDENTIAL PROPERTIES LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

L G RESIDENTIAL PROPERTIES LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

863,244

863,892

Current assets

Debtors

1,548

1,963

Cash at bank and in hand

9,192

3,043

10,740

5,006

Creditors: amounts falling due within one year

(10,077)

(18,198)

Net current assets/(liabilities)

663

(13,192)

Total assets less current liabilities

863,907

850,700

Creditors: amounts falling due after more than one year

(772,987)

(763,459)

90,920

87,241

Capital and reserves

Called up share capital

Revaluation reserve

94,532

Profit and loss account

(3,613)

(7,292)

Shareholders' funds

90,920

87,241

For the financial year ended 31 March 2015 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 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 financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 24 November 2015

L Beckett

Director

Company Registration No. 05720676

L G RESIDENTIAL PROPERTIES LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

-% per annum of cost

Fixtures, fittings & equipment

25% per annum of cost

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost or valuation

At 1 April 2014 & at 31 March 2015

887,756

Depreciation

At 1 April 2014

23,864

Charge for the year

648

At 31 March 2015

24,512

Net book value

At 31 March 2015

863,244

At 31 March 2014

863,892

L G RESIDENTIAL PROPERTIES LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of 1p each

On the 21st July 2014 the one ordinary £1 share in issue was subdivided into 100 ordinary £0.01 shares.