|
LR & JC BARNWELL LIMITED
REGISTERED NUMBER: 07774324
ABBREVIATED BALANCE SHEET
AS AT 28 FEBRUARY 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 28 February 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 1 June 2015.
The notes on pages 2 to 3 form part of these financial statements.
Page 1
|
|
LR & JC BARNWELL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
1.ACCOUNTING POLICIES
|
|
|
Basis of preparation of financial statements
|
|
|
|
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).
The company meets its day to day working capital requirements through informal borrowings from the directors. The directors have undertaken not to withdraw these borrowings from the company and therefore the financial statements have been prepared on the going concern basis and they do not include any adjustments that would result from the withdrawal of this facility.
|
|
|
|
|
|
|
|
Turnover comprises revenue recognised by the company in respect rents received and services supplied during the year, exclusive of Value Added Tax and trade discounts.
|
|
|
|
Tangible fixed assets and depreciation
|
|
|
|
|
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
|
|
|
|
|
|
|
|
|
|
|
|
20% per annum on the straight line basis
|
|
|
|
|
|
|
|
Investment properties are included in the Balance Sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.
|
2.TANGIBLE FIXED ASSETS
Page 2
|
|
LR & JC BARNWELL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
3.INVESTMENT PROPERTY
The 2015 valuations were made by the directors, on an open market value for existing use basis.
4.SHARE CAPITAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
|
|
200 ordinary shares of £1 each
|
|
|
Page 3
|
