Legal & Medical Investments Limited - Limited company - abbreviated - 11.6
Legal & Medical Investments Limited - Limited company - abbreviated - 11.6
REGISTERED NUMBER: |
Abbreviated Unaudited Accounts |
For The Year Ended 31 July 2014 |
for |
Legal & Medical Investments Limited |
Legal & Medical Investments Limited (Registered number: 03429678) |
Contents of the Abbreviated Accounts |
For The Year Ended 31 July 2014 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
Legal & Medical Investments Limited |
Company Information |
For The Year Ended 31 July 2014 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Legal & Medical Investments Limited (Registered number: 03429678) |
Abbreviated Balance Sheet |
31 July 2014 |
31.7.14 | 31.7.13 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
3 |
- |
(89,383 |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Share premium |
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. |
The financial statements were approved by the Board of Directors on |
Legal & Medical Investments Limited (Registered number: 03429678) |
Notes to the Abbreviated Accounts |
For The Year Ended 31 July 2014 |
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 April 2008). |
Revenue recognition |
Revenue comprises commission received in respect of mortgage, insurance and pension related products sold |
in the course of acting as an independent financial advisor. Commission due in respect of policies is recognised |
from the date that the policy is put 'on risk'. Commission due in respect of policies completed but not yet put 'on |
risk' are accrued in the year to which they relate, provided they can be determined with reasonable accuracy. |
Renewal commissions are recognised as received. |
In the event of the cancellation of a policy, there may be claw back of commissions previously paid after the end |
of the year in which they were received. No provision has been made within the accounts as in the director's |
opinion, such claw backs are not material and are recognised only when claimed by the insurance companies. |
Commission received is the amount derived from ordinary activities, and stated after discounts, other sales taxes |
and net of VAT. |
Tangible fixed assets |
Plant and machinery etc | - |
Freehold property is depreciated over its useful economic life to its net recoverable value (NRV). No charge is |
included in the current years accounts as in the opinion of the directors the estimated NRV is considered to be |
greater than cost. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to the profit and loss account in the period to which they relate. |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 August 2013 |
Additions |
Disposals | ( |
) |
At 31 July 2014 |
DEPRECIATION |
At 1 August 2013 |
Charge for year |
At 31 July 2014 |
NET BOOK VALUE |
At 31 July 2014 |
At 31 July 2013 |
Legal & Medical Investments Limited (Registered number: 03429678) |
Notes to the Abbreviated Accounts - continued |
For The Year Ended 31 July 2014 |
3. | CREDITORS |
Creditors include the following debts falling due in more than five years: |
31.7.14 | 31.7.13 |
£ | £ |
Repayable otherwise than by instalments | - | 68,361 |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.14 | 31.7.13 |
value: | £ | £ |
Ordinary | £1 |
Allotted and issued: |
Number: | Class: | Nominal | 31.7.14 | 31.7.13 |
value: | £ | £ |
Share capital 1 | £1 |
Authorised: |
Number | Class: | Nominal | 31.7.14 | 31.7.13 |
Value: | £ | £ |
1,194 | Ordinary | £1 | 1,194 | 1,194 |
150,000 | Redeemable preference | £1 | 150,000 | 150,000 |
151,194 | 151,000 |
Allotted, issued and fully paid: |
Number: |
Class: |
Nominal value: |
31.7.14 |
31.7.13 |
1,194 | Ordinary treated as equity | £1 | 1,194 | 1,194 |
Treated as equity |
23,972 | Redeemable preference | £1 | 23,972 | 44,994 |
5. | CONTROLLING INTEREST |
The company is controlled by the shareholders and directors, Mr M R Woodward, Mr R W Major and Mr M J |
Spurgeon. |