Lagonda Club Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02166365 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

LAGONDA CLUB LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J D Sword

B J Green

A Davey

K P Painter

C Hobbs

P W Gilkes

R P M Reay-Smith

R M Seabrook

T V J Ludbrook

SECRETARY:

T V J Ludbrook

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

18,466

12,705

CURRENT ASSETS

Stocks

297,585

237,973

Debtors

6,436

4,020

Prepayments and accrued income

6,644

4,303

Cash at bank and in hand

79,933

120,447

390,598

366,743

CREDITORS

Amounts falling due within one year

54,099

39,331

NET CURRENT ASSETS

336,499

327,412

TOTAL ASSETS LESS CURRENT
LIABILITIES

354,965

340,117

RESERVES

Revaluation reserve

4,327

Income and expenditure account

350,638

335,790

354,965

340,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 21 July 2016 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 January 2015).

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 2015

45,836

Additions

9,235

At 31 March 2016

55,071

DEPRECIATION

At 1 April 2015

33,131

Charge for year

3,474

At 31 March 2016

36,605

NET BOOK VALUE

At 31 March 2016

18,466

At 31 March 2015

12,705