Lindmead Limited - Abbreviated accounts 16.3
Lindmead Limited - Abbreviated accounts 16.3
REGISTERED NUMBER: |
ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2016 |
FOR |
LINDMEAD LIMITED |
LINDMEAD LIMITED (REGISTERED NUMBER: 01321701) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
for the Year Ended 30 April 2016 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
LINDMEAD LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 April 2016 |
DIRECTORS: |
SECRETARIES: |
J Raffety |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
LINDMEAD LIMITED (REGISTERED NUMBER: 01321701) |
ABBREVIATED BALANCE SHEET |
30 April 2016 |
30.4.16 | 30.4.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 2 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 3 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Revaluation reserve |
Capital redemption reserve |
Profit and loss account |
SHAREHOLDERS' FUNDS |
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 financial statements were approved by the Board of Directors on |
LINDMEAD LIMITED (REGISTERED NUMBER: 01321701) |
NOTES TO THE ABBREVIATED ACCOUNTS |
for the Year Ended 30 April 2016 |
1. | ACCOUNTING POLICIES |
Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the revaluation |
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January |
2015). |
As modified by the revaluation of certain assets. |
Going concern |
The company has net current liabilities of £898,135 at the year end and made a profit of £27,094 for the year |
ended 30 April 2016.The directors have prepared the financial statements on a going concern basis as they |
have reviewed the cash flow forecasts and working capital requirements of the company for the next 12 months. |
The directors are confident that the company will be able to meet its liabilities as they fall due for the foreseeable |
future. |
Turnover |
Turnover represents sales of properties, rents and share of profits on property dealing in the normal course of |
business and has been derived from the principal activity of the company. |
Investment property |
Investment properties are shown at their open market value. The surplus or deficit arising from the annual |
revaluation is transferred to the investment revaluation reserve unless a deficit, 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 is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) which, |
unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties |
are held for their investment potential and not for use by the company and so their current value is of prime |
importance. The departure from the provisions of the Act is required in order to give a true and fair view. |
Stocks |
Trading properties are held at the lower of cost and net realisable value. Net realisable value is the estimated net |
proceeds of disposal. |
Deferred tax |
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the |
recognition of gains and losses in the financial statements and recognition in the tax computation. A net deferred |
tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits |
from which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and |
liabilities are calculated at tax rates expected to be effective at the time the differences are expected to reverse. |
Deferred tax assets and liabilities are not discounted. |
2. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 May 2015 |
Additions |
At 30 April 2016 |
NET BOOK VALUE |
At 30 April 2016 |
At 30 April 2015 |
3. | CREDITORS |
Creditors include an amount of £ |
LINDMEAD LIMITED (REGISTERED NUMBER: 01321701) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the Year Ended 30 April 2016 |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.16 | 30.4.15 |
value: | £ | £ |
Ordinary | £1 |
5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At 30 April 2016 the company owed £207,100 (2015: £207,100) to G P Gay, a director. |