Rex Lovelace Limited - Period Ending 2015-09-30

Rex Lovelace Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015

Kennedy Legg
Accountants
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

Rex Lovelace Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

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 Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Rex Lovelace Limited
for the Year Ended 30 September 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rex Lovelace Limited for the year ended 30 September 2015 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Rex Lovelace 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 Rex Lovelace Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rex Lovelace Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Rex Lovelace 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 loss of Rex Lovelace Limited. You consider that Rex Lovelace 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 Rex Lovelace 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.

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

Kennedy Legg
Accountants
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

13 June 2016

Page 1

Rex Lovelace Limited
(Registration number: 00582084)
Abbreviated Balance Sheet at 30 September 2015

	Note	2015 £	2014 £
Fixed assets
Tangible fixed assets		45,671	45,671
Investments		756,549	756,562
		802,220	802,233
Creditors: Amounts falling due within one year		(212,070)	(212,070)
Net assets		590,150	590,163
Capital and reserves
Called up share capital	3	8,000	8,000
Profit and loss account		582,150	582,163
Shareholders' funds		590,150	590,163

For the year ending 30 September 2015 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 her 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 13 June 2016

.........................................
Mrs VJ Lovelace
Director

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

Rex Lovelace Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... 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).

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
Plant and machinery	Nil

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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.

2	Fixed assets

	Tangible assets £	Investments £	Total £
Cost
At 1 October 2014	45,671	756,562	802,233
Additions	-	(13)	(13)
At 30 September 2015	45,671	756,549	802,220
Depreciation
At 30 September 2015	-	-	-
Net book value
At 30 September 2015	45,671	756,549	802,220
At 30 September 2014	45,671	756,562	802,233

Page 3

Rex Lovelace Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015			2014
		No.	£		No.	£
Ordinary shares of £1 each		8,000	8,000		8,000	8,000

Page 4