Londonderry Administrative Services Limited - Period Ending 2016-06-30

Registration number: 00523132

Londonderry Administrative Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

Londonderry Administrative Services Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Londonderry Administrative Services Limited
(Registration number: 00523132)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1,551,877			1,323,656
Investments					200			200
		2			1,552,077			1,323,856
Current assets
Debtors		3			607,521			343,386
Cash at bank and in hand					433,359			747,986
					1,040,880			1,091,372
Creditors: Amounts falling due within one year					(602,318)			(676,209)
Net current assets					438,562			415,163
Net assets					1,990,639			1,739,019
Capital and reserves
Called up share capital		4			75,000			75,000
Revaluation reserve					340,400			111,322
Profit and loss account					1,575,239			1,552,697
Shareholders' funds					1,990,639			1,739,019

Page 1

Londonderry Administrative Services Limited
(Registration number: 00523132)
Abbreviated Balance Sheet at 30 June 2016

For the year ending 30 June 2016 the company was entitled to exemption 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 .

Approved by the Board on 5 October 2016 and signed on its behalf by:

10th Marquess of Londonderry Director

Page 2

Londonderry Administrative Services Limited
Notes to the Abbreviated Accounts
For the Year Ended 30 June 2016

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents amounts receivable for rent, administration fees and work carried out on properties and other services which fall within the company's ordinary activities.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	Not depreciated
Fixtures and fittings	10% - 33.3% reducing balance

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Page 3

Londonderry Administrative Services Limited
Notes to the Abbreviated Accounts
For the Year Ended 30 June 2016

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 July 2015		1,385,986			200			1,386,186
Revaluations		229,128			-			229,128
At 30 June 2016		1,615,114			200			1,615,314
Depreciation
At 1 July 2015		62,330			-			62,330
Charge for the year		907			-			907
At 30 June 2016		63,237			-			63,237
Net book value
At 30 June 2016		1,551,877			200			1,552,077
At 30 June 2015		1,323,656			200			1,323,856

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Londonderry Property Services Limited		Ordinary shares	100%	Property investment
Londonderry Collieries Limited		Ordinary shares	100%	Dormant

Page 4

Londonderry Administrative Services Limited
Notes to the Abbreviated Accounts
For the Year Ended 30 June 2016

3

Debtors

Debtors includes £276,340 (2015 - £283,667) receivable after more than one year.

 

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		75,000			75,000			75,000			75,000

5	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
10th Marquess of Londonderry
Advances and credits	398,538	394,649	292,873	292,873
Lord R Stewart
Advances and credits	205,758	205,758	213,870	213,870

Page 5