Lorimer Foster Services Limited - Period Ending 2014-03-31

Registration number: 04967352

Lorimer Foster Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

Phillip Carroll Associates Limited
Chartered Certified Accountants
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

Lorimer Foster Services Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Lorimer Foster Services Limited
for the Year Ended 31 March 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lorimer Foster Services Limited for the year ended 31 March 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Lorimer Foster Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lorimer Foster Services Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lorimer Foster Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lorimer Foster Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lorimer Foster Services Limited. You consider that Lorimer Foster Services 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 accounts of Lorimer Foster Services 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 accounts.

......................................

Phillip Carroll Associates Limited
Chartered Certified Accountants
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

22 December 2014

Page 1

Lorimer Foster Services Limited
(Registration number: 04967352)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					11,028			9,066
Current assets
Debtors					289,562			374,599
Cash at bank and in hand					131,761			59,391
					421,323			433,990
Creditors: Amounts falling due within one year					(266,272)			(58,692)
Net current assets					155,051			375,298
Total assets less current liabilities					166,079			384,364
Creditors: Amounts falling due after more than one year					(26,195)			(259,392)
Net assets					139,884			124,972
Capital and reserves
Called up share capital		3			100			100
Other reserves					150,000			150,000
Profit and loss account					(10,216)			(25,128)
Shareholders' funds					139,884			124,972

For the year ending 31 March 2014 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 director acknowledges his 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 director on 22 December 2014

.........................................
Dr J S Khan
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Lorimer Foster Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	15% reducing balance basis
Fixtures and fittings	15% reducing balance basis
Motor vehicles	25% reducing balance basis

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Lorimer Foster Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2013		26,905			26,905
Additions		3,639			3,639
At 31 March 2014		30,544			30,544
Depreciation
At 1 April 2013		17,839			17,839
Charge for the year		1,677			1,677
At 31 March 2014		19,516			19,516
Net book value
At 31 March 2014		11,028			11,028
At 31 March 2013		9,066			9,066

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4