Company Registration No. 04084177 (England and Wales)
London House Renovations Ltd
Abbreviated unaudited accounts
for the year ended 31 December 2015
London House Renovations Ltd
Abbreviated Balance Sheet
as at 31 December 2015
Tangible assets
34,001
39,314
Cash at bank and in hand
13,012
82,943
Creditors: amounts falling due within one year
(182,305)
(225,218)
Net current liabilities
(22,802)
(23,289)
Total assets less current liabilities
11,199
16,025
Creditors: amounts falling due after more than one year
-
(1,340)
Provisions for liabilities
(2,671)
(2,826)
Called up share capital
2
2
Profit and loss account
8,526
11,857
Total shareholders' funds
8,528
11,859
For the year ending 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 27 September 2016
Paul Stevens
Director
Company Registration No. 04084177
London House Renovations Ltd
Notes to the Abbreviated Accounts
for the year ended 31 December 2015
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% of cost
Motor vehicles
25% reducing balance
Computer equipment
25% of cost
Stocks and work-in-progress are valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
London House Renovations Ltd
Notes to the Abbreviated Accounts
for the year ended 31 December 2015
2
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
At 1 January 2015
2,134
70,249
1,065
73,448
Additions
-
3,240
1,641
4,881
At 31 December 2015
2,134
73,489
2,706
78,329
At 1 January 2015
2,134
31,798
202
34,134
Charge for the year
-
9,747
447
10,194
At 31 December 2015
2,134
41,545
649
44,328
At 31 December 2015
-
31,944
2,057
34,001
At 31 December 2014
-
38,451
863
39,314
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
