Litfield Land Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03062821 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2014

FOR

LITFIELD LAND LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

S M Caple

SECRETARY:

Mrs A L Caple

REGISTERED OFFICE:

91/93 Alma Road

Clifton

Bristol

BS8 2DP

REGISTERED NUMBER:

03062821 (England and Wales)

ACCOUNTANTS:

Bryan Stone & Co.

Chartered Certified Accountants

91-93 Alma Road

Clifton

Bristol

BS8 2DP

BANKERS:

Handelsbanken

51-55 Whiteladies Road

Clifton

Bristol

BS8 2LY

FIXED ASSETS

Tangible assets

2

6,917

1,765

Investment property

3

5,140,000

4,493,058

5,146,917

4,494,823

CURRENT ASSETS

Debtors

79,001

165,725

Cash at bank

-

2,345

79,001

168,070

CREDITORS

Amounts falling due within one year

4

250,887

239,576

NET CURRENT LIABILITIES

(171,886

)

(71,506

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,975,031

4,423,317

CREDITORS

Amounts falling due after more than one year

4

(2,210,086

)

(2,286,755

)

PROVISIONS FOR LIABILITIES

(1,383

)

-

NET ASSETS

2,763,562

2,136,562

CAPITAL AND RESERVES

Called up share capital

5

10

10

Revaluation reserve

1,882,562

1,308,733

Profit and loss account

880,990

827,819

SHAREHOLDERS' FUNDS

2,763,562

2,136,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 27 February 2015 and were signed by:

S M Caple - Director

1.	ACCOUNTING POLICIES

ACCOUNTING CONVENTION

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities

(effective April 2008).

TURNOVER

Turnover represents net invoiced sales of services, excluding value added tax.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

To comply with FRSSE, the company has departed from the Companies Act 1985 in order to give a true

and fair view of the investment property valuation.

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in market value is transferred to a revaluation reserve.

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 June 2013

6,388

Additions

6,354

At 31 May 2014

12,742

DEPRECIATION

At 1 June 2013

4,623

Charge for year

1,202

At 31 May 2014

5,825

NET BOOK VALUE

At 31 May 2014

6,917

At 31 May 2013

1,765

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 June 2013

4,493,058

Additions

73,113

Revaluations

573,829

At 31 May 2014

5,140,000

NET BOOK VALUE

At 31 May 2014

5,140,000

At 31 May 2013

4,493,058

4.

CREDITORS

Creditors include an amount of £ 2,285,578 (31/5/13 - £ 2,359,726 ) for which security has been given.

They also include the following debts falling due in more than five years:

31/5/14

31/5/13

£

£

Repayable otherwise than by instalments

1,225,000

1,225,000

Repayable by instalments

683,118

769,871

1,908,118

1,994,871

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/14

31/5/13

value:

£

£

10

Ordinary

£1

10

10