LEGERWOOD_INVESTMENTS_LIM - Accounts

LEGERWOOD INVESTMENTS LIMITED - Company Information

Print Friendly Version

Company Registration No. SC450026 (Scotland)

LEGERWOOD INVESTMENTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

LEGERWOOD INVESTMENTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

LEGERWOOD INVESTMENTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

191,885

187,033

Current assets

Debtors

2,400

14,802

Cash at bank and in hand

18,105

20,616

20,505

35,418

Creditors: amounts falling due within one year

(6,055)

(1,257)

Net current assets

14,450

34,161

Total assets less current liabilities

206,335

221,194

Creditors: amounts falling due after more than one year

(154,610)

(200,611)

Provisions for liabilities

(9,310)

(4,116)

42,415

16,467

Capital and reserves

Called up share capital

Profit and loss account

42,412

16,464

Shareholders' funds

42,415

16,467

For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 19 December 2016

Mr P Scott Aiton

Director

Company Registration No. SC450026

LEGERWOOD INVESTMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

5% Straight line

1.5

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date.

A net deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits against which to recover carried forward tax losses and from which the future reversal of underlying timing differences can be deducted.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

LEGERWOOD INVESTMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 June 2015

206,922

Additions

15,998

At 31 May 2016

222,920

Depreciation

At 1 June 2015

19,889

Charge for the year

11,146

At 31 May 2016

31,035

Net book value

At 31 May 2016

191,885

At 31 May 2015

187,033

Share capital

2016

2015

Allotted, called up and fully paid

3 Ordinary of £1 each