LAND_MASS_LIMITED - Accounts

LAND MASS LIMITED - Company Information

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Company Registration No. 04513806 (England and Wales)

LAND MASS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2015

LAND MASS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

LAND MASS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

2,785,548

2,787,051

Current assets

Debtors

24,856

18,656

24,856

18,656

Creditors: amounts falling due within one year

(137,147)

(147,045)

Net current liabilities

(112,291)

(128,389)

Total assets less current liabilities

2,673,257

2,658,662

Creditors: amounts falling due after more than one year

(2,366,339)

(2,366,535)

306,918

292,127

Capital and reserves

Called up share capital

Revaluation reserve

338,317

Profit and loss account

(31,401)

(46,192)

Shareholders' funds

306,918

292,127

For the financial year ended 30 April 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 29 January 2016

Mr Justin Barton

Director

Company Registration No. 04513806

LAND MASS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015

- 2 -

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

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

20% Reducing balance

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Fixed assets

Tangible assets

Cost or valuation

At 1 May 2014 & at 30 April 2015

2,824,282

Depreciation

At 1 May 2014

37,230

Charge for the year

1,504

At 30 April 2015

38,734

Net book value

At 30 April 2015

2,785,548

At 30 April 2014

2,787,051

LAND MASS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2015

- 3 -

Creditors: amounts falling due after more than one year

2015

2014

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

2,366,535

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £2,366,535).

Share capital

2015

2014

Allotted, called up and fully paid

2 Ordinary of £1 each