LAGAN VALLEY STEELS MANUFACTURING LIMITED Small abridged accounts
LAGAN VALLEY STEELS MANUFACTURING LIMITED Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
NI016744
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Chartered accountant
(DNTLA Ltd t/a Norman Elliott & Company)
18 Bachelors Walk
Lisburn
BT28 1XJ
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Abridged Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Report to the director on the preparation of the unaudited statutory abridged financial statements |
1 |
Abridged statement of financial position |
2 |
Notes to the abridged financial statements |
3 |
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Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year ended 31 March 2017
(DNTLA Ltd t/a Norman Elliott & Company)
18 Bachelors Walk
Lisburn
BT28 1XJ
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Abridged Statement of Financial Position |
2017 |
2016 |
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Note |
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£ |
£ |
Current assets
Debtors |
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Creditors: amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Member funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Director's responsibilities:
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The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
23 May 2017
, and are signed on behalf of the board by:
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Director |
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Company registration number:
NI016744
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Notes to the Abridged Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 18 BACHELORS WALK, LISBURN, CO ANTRIM, BT28 1XJ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 6.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Staff costs
The average number of persons employed by the company during the year, including the director, amounted to Nil (2016: Nil).
5.
Related party transactions
The company was under the control of Mr T Anderson throughout the current and previous year. Mr T Anderson is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.
6.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.