Abbreviated Company Accounts - THE LIGHT LIVING FOUNDATION LIMITED

THE LIGHT LIVING FOUNDATION LIMITED - Company Information

Registered Number 03517342

THE LIGHT LIVING FOUNDATION LIMITED

Abbreviated Accounts

31 May 2014

THE LIGHT LIVING FOUNDATION LIMITED Registered Number 03517342

Abbreviated Balance Sheet as at 31 May 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	3	340	-
Investments	4	-	20,000
		340	20,000
Current assets
Debtors	5	20,000	-
Cash at bank and in hand		1,614	1,867
		21,614	1,867
Creditors: amounts falling due within one year		(245)	(245)
Net current assets (liabilities)		21,369	1,622
Total assets less current liabilities		21,709	21,622
Total net assets (liabilities)		21,709	21,622
Reserves
Revaluation reserve		-	20,000
Income and expenditure account		21,709	1,622
Members' funds		21,709	21,622

For the year ending 31 May 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 directors acknowledge their 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 Board on 25 February 2015

And signed on their behalf by:
Peter B Rae, Director
Sharon A Rose, Director

THE LIGHT LIVING FOUNDATION LIMITED Registered Number 03517342

Notes to the Abbreviated Accounts for the period ended 31 May 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

3Tangible fixed assets

	£
Cost
At 1 June 2013	-
Additions	400
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2014	400
Depreciation
At 1 June 2013	-
Charge for the year	60
On disposals	-
At 31 May 2014	60
Net book values
At 31 May 2014	340
At 31 May 2013	-

4Fixed assets Investments
This amount was miscategorized last year. In the current financial year it is shown as debtors.

5Debtors

	2014 £	2013 £
Debtors include the following amounts due after more than one year	20,000	20,000

The charity invested £20,000 in a 5% share of a property in London. This is shown as a short term debtor in the accounts as it is repayable upon the sale of the property or in 2024 or when the owner of the property can afford to repay it in full. The amount repaid will be 5% of the value of the property at the date it is agreed to be repaid or the property is sold. The return on this investment is considered to be far greater than having the monies on deposit in a bank account at present. As the return will materialize upon completion of the loan, no interim account is made of the increase on return on this loan and all will be accounted for in the year in which it is repaid.