D. Lucas & Sons Limited - Period Ending 2014-12-31

Registration number: 02982505

D. Lucas & Sons Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

D. Lucas & Sons Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

D. Lucas & Sons Limited
(Registration number: 02982505)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			16,048			21,130
Current assets
Debtors					205,950			58,499
Cash at bank and in hand					174,391			171,079
					380,341			229,578
Creditors: Amounts falling due within one year					(169,045)			(30,558)
Net current assets					211,296			199,020
Total assets less current liabilities					227,344			220,150
Creditors: Amounts falling due after more than one year					-			(508)
Net assets					227,344			219,642
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					227,244			219,542
Shareholders' funds					227,344			219,642

For the year ending 31 December 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 director acknowledges his 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 11 September 2015

.........................................
Mr DA Lucas
Director

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

Page 1

D. Lucas & Sons Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... 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).

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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	15% reducing balance
Fixtures, fittings and equipment	15% reducing balance
Motor vehicles	25% reducing balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 2

D. Lucas & Sons Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		101,434			101,434
At 31 December 2014		101,434			101,434
Depreciation
At 1 January 2014		80,304			80,304
Charge for the year		5,082			5,082
At 31 December 2014		85,386			85,386
Net book value
At 31 December 2014		16,048			16,048
At 31 December 2013		21,130			21,130

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		508			5,383
Amounts falling due after more than one year		-			508
Total secured creditors		508			5,891

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3