LAGAT Limited - Abbreviated accounts 16.3
LAGAT Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 July 2016 |
| for |
| LAGAT Limited |
| LAGAT Limited (Registered number: 02120850) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 July 2016 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Abbreviated Balance Sheet | 3 |
| Notes to the Abbreviated Accounts | 5 |
| LAGAT Limited |
| Company Information |
| for the Year Ended 31 July 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants & Business Advisers |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| LAGAT Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of LAGAT Limited for the year ended 31 July 2016 which comprise the Profit and Loss Account, the |
| Balance Sheet and the related notes from the company's accounting records and from information and explanations |
| you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of LAGAT Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LAGAT Limited and state those matters that we have agreed to state to the Board of Directors of LAGAT Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LAGAT Limited Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that LAGAT Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of LAGAT Limited. You consider that LAGAT Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of LAGAT Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants & Business Advisers |
| 25 November 2016 |
| LAGAT Limited (Registered number: 02120850) |
| Abbreviated Balance Sheet |
| 31 July 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| 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. |
| LAGAT Limited (Registered number: 02120850) |
| Abbreviated Balance Sheet - continued |
| 31 July 2016 |
| The financial statements were approved by the Board of Directors on by: |
| LAGAT Limited (Registered number: 02120850) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 July 2016 |
| 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). |
| Consolidation |
| In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The |
| company has therefore taken advantage of the exemption provided by section 399 of the Companies Act 2006 |
| not to prepare group accounts. |
| Turnover |
| Income represents sales to outside customers at invoice amount less value added tax and discounts, together |
| with receipts from the Skills Funding Agency (formerly the Learning and Skills Council). Turnover arises entirely |
| from training and associated services within the United Kingdom. |
| In respect of long-term contracts and contracts for on-going services, turnover represents the value of work |
| done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and |
| contracts for on-going services is recognised by reference to the stage of completion. |
| Tangible fixed assets |
| Leasehold Improvements | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| All fixed assets are initially recorded at cost. |
| Deferred tax |
| 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 or less tax in the future |
| have occurred at the balance sheet date. Timing differences are differences between the company's taxable |
| profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax |
| assessments in periods different from those in which they are recognised in the financial statements. |
| 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 from |
| which the future reversal of the 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 tax rates and laws that have been enacted or substantially |
| enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
| held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
| leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Financial instruments |
| Financial instruments are classified and accounted for, according to the substance of the contractual |
| arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any |
| contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| LAGAT Limited (Registered number: 02120850) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 July 2016 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 August 2015 |
| Additions |
| At 31 July 2016 |
| DEPRECIATION |
| At 1 August 2015 |
| Charge for year |
| At 31 July 2016 |
| NET BOOK VALUE |
| At 31 July 2016 |
| At 31 July 2015 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 August 2015 |
| and 31 July 2016 | 100,100 |
| NET BOOK VALUE |
| At 31 July 2016 |
| At 31 July 2015 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | (44,853 | ) | (42,170 | ) |
| (Loss)/profit for the year | (2,683 | ) | 31,033 |
| 4. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| The aggregate total of debtors falling due after more than one year is £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| A Ordinary | £1 |
| B Ordinary | £1 |
| C Ordinary | £1 |
| 600 | 600 |