LOCKWOODS_CONSTRUCTION_(L - Accounts

LOCKWOODS CONSTRUCTION (LIVERPOOL) LIMITED - Company Information

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Company Registration No. 00869994 (England and Wales)

LOCKWOODS CONSTRUCTION (LIVERPOOL) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

LOCKWOODS CONSTRUCTION (LIVERPOOL) LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

LOCKWOODS CONSTRUCTION (LIVERPOOL) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

193,635

190,145

Investments

225

193,860

190,370

Current assets

Stocks

1,000

Debtors

3,601,218

2,721,869

Cash at bank and in hand

150

472,295

3,602,368

3,195,164

Creditors: amounts falling due within one year

(2,213,388)

(1,782,501)

Net current assets

1,388,980

1,412,663

Total assets less current liabilities

1,582,840

1,603,033

Accruals and deferred income

(6,954)

(7,076)

1,575,886

1,595,957

Capital and reserves

Called up share capital

10,000

Profit and loss account

1,565,886

1,585,957

Shareholders' funds

1,575,886

1,595,957

LOCKWOODS CONSTRUCTION (LIVERPOOL) LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2015

- 2 -

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 December 2015

Mr J S Maddock

Director

Company Registration No. 00869994

LOCKWOODS CONSTRUCTION (LIVERPOOL) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents the sales value of contracts completed during the year together with, in the case of long-term contracts, increases during the year in the certified values of those contracts, net of Value Added Tax.

Long-Term Contracts are assessed on a contract by contract basis and are reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Attributable profit on a long-term contract is ascertained as the difference between turnover and related costs for that contract.

1.3

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 less estimated residual value of each asset over its expected useful life, as follows:

Leasehold land and buildings

Straight line basis over 89 years

Plant and machinery

20% Reducing balance and 5% Straight line basis

Fixtures, fittings & equipment

20% Reducing balance basis

Motor vehicles

25% Reducing balance basis

1.4

Leasing

Rentals payable under operating leases are charged to the profit and loss account in the period to which they relate.

1.5

Investments

Fixed asset investments are stated at cost at the balance sheet date.

1.6

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

1.7

Pensions

a. The company operates a number of defined contribution schemes for selected employees. Contributions are charged to the profit and loss account in the period to which they relate.

b. The company operates a funded defined benefit scheme. Under FRS 17, the scheme is treated as a Defined Contribution Scheme because the company is unable to identify its share of the underlying assets and liabilities in the scheme. Contributions to the scheme are therefore charged to the profit and loss account in the period in which they are made.

1.8

Deferred taxation

Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.

LOCKWOODS CONSTRUCTION (LIVERPOOL) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

Accounting policies

(Continued)

- 4 -

1.9

Government grants

Revenue grants are credited to the profit and loss account. Capital Grants are credited to deferred grants and amortised in the profit and loss account over the estimated lives of the qualifying assets.

1.10

Other income

Other income, which includes rent from the company's leasehold premises, is recognised on an accruals basis.

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 April 2014

415,073

225

415,298

Additions

23,091

At 31 March 2015

438,164

225

438,389

Depreciation

At 1 April 2014

224,928

Charge for the year

19,601

At 31 March 2015

244,529

Net book value

At 31 March 2015

193,635

225

193,860

At 31 March 2014

190,145

225

190,370

Share capital

2015

2014

Allotted, called up and fully paid

10,000 Ordinary shares of £1 each

10,000