Abbreviated Company Accounts - LAKESIDE CARS LTD
Abbreviated Company Accounts - LAKESIDE CARS LTD
Registered Number 05829948
LAKESIDE CARS LTD
Abbreviated Accounts
31 May 2015
LAKESIDE CARS LTD Registered Number 05829948
Abbreviated Balance Sheet as at 31 May 2015
Notes | 2015 | 2014 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
|
|
|
|||
Current assets | |||
Stocks |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
|
|
|
Total assets less current liabilities |
|
|
|
Total net assets (liabilities) |
|
|
|
Capital and reserves | |||
Called up share capital | 3 |
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
For the year ending 31 May 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 directors acknowledge their 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 Board on
And signed on their behalf by:
LAKESIDE CARS LTD Registered Number 05829948
Notes to the Abbreviated Accounts for the period ended 31 May 2015
1Accounting Policies
Basis of measurement and preparation of accounts
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 the invoiced value of goods and services provided
Depreciation
The cost of tangible fixed assets is their purchase cost together with any incidental costs of acquisitions.
Depreciation is calculated to write off the cost of tangible fixed assets on a reducing balance basis over their expected useful lives
Asset class Depreciation method and rate
Plant & machinery 25% reducing
F & F 25% reducing
Office furniture 25% reducing
Computer 25% reducing
Stock
Stock is valued at the lower of cost or net realisable value
£ | |
---|---|
Cost | |
At 1 June 2014 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 May 2015 |
|
Depreciation | |
At 1 June 2014 |
|
Charge for the year |
|
On disposals |
|
At 31 May 2015 |
|
Net book values | |
At 31 May 2015 | 4,662 |
At 31 May 2014 | 6,216 |