Abbreviated Company Accounts - LINCAM GLASGOW LIMITED
Abbreviated Company Accounts - LINCAM GLASGOW LIMITED
Registered Number SC427180
LINCAM GLASGOW LIMITED
Abbreviated Accounts
30 June 2016
LINCAM GLASGOW LIMITED Registered Number SC427180
Abbreviated Balance Sheet as at 30 June 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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( |
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Net current assets (liabilities) |
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( |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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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
And signed on their behalf by:
LINCAM GLASGOW LIMITED Registered Number SC427180
Notes to the Abbreviated Accounts for the period ended 30 June 2016
1Accounting Policies
Basis of measurement and preparation of accounts
Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover policy
the year and derives from the provision of goods falling within the company's ordinary
activities.
Tangible assets depreciation policy
asset over its expected useful life, as follows:
Land and buildings - nil depreciation
Other accounting policies
Land and buildings are held for investment purposes and are restated annually at their open
market value, with any movement during the year being transferred to the investment property
reserve. No depreciation or amortisation is provided in respect of freehold investment
properties. The directors consider that this accounting policy results in the accounts giving a
true and fair view. Depreciation is only one of many factors reflected in the annual valuation
and the amount which might otherwise be shown cannot be separately identified and
quantified.
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 have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more, tax.
Deferred tax assets are recognised only to the extent that the directors consider that it is 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 is measured on an undiscounted basis at the tax rates that are expected to apply in
the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
£ | |
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Cost | |
At 1 July 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 June 2016 |
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Depreciation | |
At 1 July 2015 |
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Charge for the year |
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On disposals |
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At 30 June 2016 |
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Net book values | |
At 30 June 2016 | 9,884,613 |
At 30 June 2015 | 9,884,613 |