N L Services (Leek) Ltd - Period Ending 2015-03-31

Registration number: 07109340

N L Services (Leek) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Armstrongs Accountants Limited
Alexandra House
Queen Street
Leek
Staffordshire
ST13 6LP

N L Services (Leek) Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

N L Services (Leek) Ltd
(Registration number: 07109340)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					31,332			23,656
Current assets
Stocks					53,237			50,506
Debtors					29,940			17,621
Cash at bank and in hand					16,912			29,059
					100,089			97,186
Creditors: Amounts falling due within one year					(117,311)			(67,538)
Net current (liabilities)/assets					(17,222)			29,648
Total assets less current liabilities					14,110			53,304
Provisions for liabilities					(1,961)			-
Net assets					12,149			53,304
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					12,148			53,303
Shareholders' funds					12,149			53,304

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 31 December 2015

.........................................
Mr N E Lymer
Director

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

N L Services (Leek) 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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the period, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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	10% reducing balance method
Office equipment	10% reducing balance method
Leasehold buildings	5% straight line method
Fixtures and fittings	10% reducing balance method

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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

N L Services (Leek) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		25,980			25,980
Additions		10,025			10,025
At 31 March 2015		36,005			36,005
Depreciation
At 1 April 2014		2,324			2,324
Charge for the year		2,349			2,349
At 31 March 2015		4,673			4,673
Net book value
At 31 March 2015		31,332			31,332
At 31 March 2014		23,656			23,656

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary share of £1 each		1			1			1			1

Page 3