John Lancaster Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06501318 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

John Lancaster Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J Lancaster

Miss J A Clayton

SECRETARY:

Miss J A Clayton

REGISTERED OFFICE:

International House

6 Market Street

Oakengates

Telford

Shropshire

TF2 6EF

REGISTERED NUMBER:

06501318 (England and Wales)

ACCOUNTANTS:

Tranter Lowe (Oakengates) Limited

Chartered Accountants

International House

6 Market Street

Oakengates

Telford

Shropshire

TF2 6EF

FIXED ASSETS

Intangible assets

2

10,500

14,000

Tangible assets

3

3,442

4,330

13,942

18,330

CURRENT ASSETS

Stocks

500

700

Debtors

4,179

599

Cash at bank

2,205

3,264

6,884

4,563

CREDITORS

Amounts falling due within one year

5,894

6,090

NET CURRENT ASSETS/(LIABILITIES)

990

(1,527

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,932

16,803

PROVISIONS FOR LIABILITIES

508

646

NET ASSETS

14,424

16,157

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

14,422

16,155

SHAREHOLDERS' FUNDS

14,424

16,157

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 11 December 2015 and were signed on its behalf by:

J Lancaster - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Tools & equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

50% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

35,000

AMORTISATION

At 1 April 2014

21,000

Amortisation for year

3,500

At 31 March 2015

24,500

NET BOOK VALUE

At 31 March 2015

10,500

At 31 March 2014

14,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

9,792

Additions

293

Disposals

(111

)

At 31 March 2015

9,974

DEPRECIATION

At 1 April 2014

5,462

Charge for year

1,126

Eliminated on disposal

(56

)

At 31 March 2015

6,532

NET BOOK VALUE

At 31 March 2015

3,442

At 31 March 2014

4,330

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

2

Ordinary

£1

2

2

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2015 and

31 March 2014:

31.3.15

31.3.14

£

£

J Lancaster and Miss J A Clayton

Balance outstanding at start of year

265

8,236

Amounts advanced

(3,846

)

(7,971

)

Amounts repaid

-

-

Balance outstanding at end of year

(3,581

)

265

6.	RELATED PARTY DISCLOSURES

During the year, total dividends of £13,950 (2014 - £13,950) were paid to the directors .