Lime Social Care Ltd - Period Ending 2016-03-31

Registration number: 07201080

Lime Social Care Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Burrell Edwards
Chartered Certified Accountants
15a East Street
Southampton
Hampshire
SO14 3HG

Lime Social Care Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Lime Social Care Ltd
(Registration number: 07201080)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					1,250,000			-
Tangible fixed assets					19,913			17,119
					1,269,913			17,119
Current assets
Debtors					218,151			370,210
Cash at bank and in hand					332,050			160,109
					550,201			530,319
Creditors: Amounts falling due within one year					(1,103,533)			(154,627)
Net current (liabilities)/assets					(553,332)			375,692
Net assets					716,581			392,811
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					716,481			392,711
Shareholders' funds					716,581			392,811

For the year ending 31 March 2015 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 2 December 2015

.........................................
Mr Jonathan Payne
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Lime Social Care Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class	Amortisation method and rate
Goodwill	Nil

Depreciation

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

Asset class	Depreciation method and rate
Office equipment	20% reducing balance
Fixture & fittings	20% 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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Lime Social Care Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		-			23,762			23,762
Additions		1,250,000			7,772			1,257,772
At 31 March 2015		1,250,000			31,534			1,281,534
Depreciation
At 1 April 2014		-			6,643			6,643
Charge for the year		-			4,978			4,978
At 31 March 2015		-			11,621			11,621
Net book value
At 31 March 2015		1,250,000			19,913			1,269,913
At 31 March 2014		-			17,119			17,119

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary share capital of £1 each		100			100			100			100
Ordinary share capital of £1 each		100			100			100			100
		200			200			200			200

Page 3