Livestock and General Cargo Co Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 01850976 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

FOR

LIVESTOCK AND GENERAL CARGO COMPANY

LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

G Drake

SECRETARY:

Mrs S W Drake

REGISTERED OFFICE:

Hare Lodge

Monmouth Hill

Tuckingmill

Tisbury

SP3 6NR

REGISTERED NUMBER:

01850976 (England and Wales)

ACCOUNTANTS:

Fawcetts

Chartered Accountants

Windover House

St. Ann Street

Salisbury

SP1 2DR

FIXED ASSETS

Tangible assets

2

3,084

3,967

CURRENT ASSETS

Debtors

1,204

12,577

Cash at bank

558

2,746

1,762

15,323

CREDITORS

Amounts falling due within one year

9,299

22,089

NET CURRENT LIABILITIES

(7,537

)

(6,766

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,453

)

(2,799

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(4,553

)

(2,899

)

SHAREHOLDERS' FUNDS

(4,453

)

(2,799

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director on 27 July 2016 and were signed by:

G Drake - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis which is thought to be appropriate because the

director intends to provide additional funds to meet the company's liabilities as they fall due.

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 services, 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

-

15% on reducing balance

Office equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low

value with a short life. Repair, renovation and replacement is written off as expenditure in the profit and loss

account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

Deferred tax

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

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

and 31 October 2015

26,274

DEPRECIATION

At 1 November 2014

22,307

Charge for year

883

At 31 October 2015

23,190

NET BOOK VALUE

At 31 October 2015

3,084

At 31 October 2014

3,967

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2015 and

31 October 2014:

2015

2014

£

£

G Drake

Balance outstanding at start of year

11,471

-

Amounts advanced

-

24,316

Amounts repaid

(11,471

)

(12,845

)

Balance outstanding at end of year

-

11,471