Liam David Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02790565 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

FOR

LIAM DAVID LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr L D Griffiths

Mrs N J Griffiths

SECRETARY:

Mrs N J Griffiths

REGISTERED OFFICE:

Unit 14, Jasop House

Paramount Business Park

Wilson Road

Huyton, Knowsley

Liverpool

L36 6AW

REGISTERED NUMBER:

02790565 (England and Wales)

ACCOUNTANTS:

Hanleys

Chartered Accountants

Spring Court

Spring Road

Hale

Altrincham

Cheshire

WA14 2UQ

FIXED ASSETS

Tangible assets

2

21,344

26,211

Investments

3

-

50,000

21,344

76,211

CURRENT ASSETS

Stocks

154,007

19,780

Debtors

630,911

257,809

Cash at bank and in hand

988,605

961,277

1,773,523

1,238,866

CREDITORS

Amounts falling due within one year

4

875,606

454,674

NET CURRENT ASSETS

897,917

784,192

TOTAL ASSETS LESS CURRENT
LIABILITIES

919,261

860,403

PROVISIONS FOR LIABILITIES

3,706

4,556

NET ASSETS

915,555

855,847

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

915,455

855,747

SHAREHOLDERS' FUNDS

915,555

855,847

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 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 Board of Directors on 28 November 2016 and were signed on its behalf
by:

Mr L D Griffiths - 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 sale of goods, excluding value added tax, on the completion of customer

orders. Any order not delivered to the customer at the year end, is held in closing stock until the delivery of the

goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office Equipment

-

20% on reducing balance

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

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.

Group accounts

Exemption has been taken not to prepare group accounts on the basis that the companies form a small group.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

89,783

Additions

556

At 29 February 2016

90,339

DEPRECIATION

At 1 March 2015

63,572

Charge for year

5,423

At 29 February 2016

68,995

NET BOOK VALUE

At 29 February 2016

21,344

At 28 February 2015

26,211

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 March 2015

50,000

Disposals

(50,000

)

At 29 February 2016

-

NET BOOK VALUE

At 29 February 2016

-

At 28 February 2015

50,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Splitvision Ltd, a company controlled by the directors, Mr L and Mrs N Griffiths, went into liquidation during

the year.

The total investment made in Splitvision Ltd by the company of £50,000, has been written off in the year to

reflect this.

4.

CREDITORS

Creditors include an amount of £ 383,574 (28.2.15 - £ 151,473 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.2.16

28.2.15

value:

£

100

Ordinary

£1

100

6.	SECURED DEBTS

A debenture was created on 2 August 2007, securing all monies due or to become due to HSBC Bank on any

account. The bank holds fixed and floating charges over the undertaking and all property and assets present and

future including goodwill, bookdebts, uncalled capital, building, fixtures, fixed plant and machinery.