LiveIn Quarters Limited - Limited company - abbreviated - 11.9
LiveIn Quarters Limited - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015 |
| FOR |
| LIVEIN QUARTERS LIMITED |
| LIVEIN QUARTERS LIMITED (REGISTERED NUMBER: 03868543) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| For The Year Ended 31 March 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| LIVEIN QUARTERS LIMITED |
| COMPANY INFORMATION |
| For The Year Ended 31 March 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| LIVEIN QUARTERS LIMITED (REGISTERED NUMBER: 03868543) |
| ABBREVIATED BALANCE SHEET |
| 31 March 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| CURRENT ASSETS |
| Debtors |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 4 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the Board of Directors on |
| LIVEIN QUARTERS LIMITED (REGISTERED NUMBER: 03868543) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| For The Year Ended 31 March 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis, which the directors consider to be appropriate, as they have |
| agreed not to withdraw their loan accounts and to provide the necessary finance to enable the company to meet its liabilities as they |
| fall due. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets and |
| in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Preparation of consolidated financial statements |
| The financial statements contain information about LiveIn Quarters Limited as an individual company and do not contain |
| consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies |
| Act 2006 not to prepare consolidated financial statements. |
| Tangible fixed assets |
| Fixtures and equipment | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged |
| to the profit and loss account in the period to which they relate. |
| Investment properties |
| No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting Standard for Smaller |
| Entities (effective April 2008). Such properties are held for their investment potential and not for consumption within the business. |
| This is a departure from the Companies Act 2006 which requires all properties to be depreciated and the directors consider that to |
| depreciate them would not enable the financial statements to give a true and fair view. Investment properties are stated at their market |
| value at the balance sheet date. |
| Turnover |
| Turnover represents rent received from investment properties, excluding value added tax. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST OR VALUATION |
| At 1 April 2014 |
| Additions |
| Revaluations | ( |
) |
| At 31 March 2015 |
| DEPRECIATION |
| At 1 April 2014 |
| Charge for year |
| At 31 March 2015 |
| NET BOOK VALUE |
| At 31 March 2015 |
| At 31 March 2014 |
| LIVEIN QUARTERS LIMITED (REGISTERED NUMBER: 03868543) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| For The Year Ended 31 March 2015 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 April 2014 |
| and 31 March 2015 | 100 |
| NET BOOK VALUE |
| At 31 March 2015 |
| At 31 March 2014 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 1,672,373 | 1,450,587 |
| Profit for the year | 21,786 | 24,317 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2015 | 2014 |
| £ | £ |
| Repayable by instalments | 3,128,042 | 3,163,161 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| 'A' Ordinary | £1 |
| 'B' Ordinary | 10p |
| 'D' Ordinary | £1 |
| 50,000 | 50,000 |
| On 23 July 2001, the company passed a resolution modifying the company's share capital, by the creation of separate funds specific to |
| each class of share. The separate funds each have attributable to them rights to specific assets, liabilities, income, expenses, |
| distributions and reserves. |
| The 'D' Ordinary £1 shares do not carry an entitlement to vote, either on show of hands, poll, written resolution or otherwise. |
| LIVEIN QUARTERS LIMITED (REGISTERED NUMBER: 03868543) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| For The Year Ended 31 March 2015 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| As at 31 March 2015, the company owed J Wright Snr and L C Wright, £1,021,335 (2014 - £1,124,886). The amount is unsecured |
| and bears no interest. |
| As at 31 March 2015, J Wright Snr had provided guarantees amounting to £760,000 (2014 - £760,000) in connection with bank loans |
| and overdrafts. |
| 7. | ULTIMATE CONTROLLING PARTY |
| The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial |
| and operating policies. |