Lorne Laboratories Limited - Limited company - abbreviated

REGISTERED NUMBER: 04540797 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Lorne Laboratories Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R Lambert

E B G Velthuis

K G Davis

I C John

SECRETARY:

R Lambert

REGISTERED OFFICE:

Unit 1

Cutbush Park Industrial Estate

Danehill, Lower Earley

Reading

Berkshire

RG6 4UT

REGISTERED NUMBER:

04540797 (England and Wales)

ACCOUNTANTS:

Knox & Eames Chartered Accountants

The Business Centre

Greys Green Farm

Rotherfield Greys

Henley-on-Thames

Oxfordshire

RG9 4QG

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

94,644

122,608

94,644

122,608

CURRENT ASSETS

Stocks

504,634

530,817

Debtors

279,868

227,018

Cash at bank and in hand

213,152

84,176

997,654

842,011

CREDITORS

Amounts falling due within one year

4

462,215

456,972

NET CURRENT ASSETS

535,439

385,039

TOTAL ASSETS LESS CURRENT
LIABILITIES

630,083

507,647

CREDITORS

Amounts falling due after more than one year

95,330

NET ASSETS

534,753

412,317

CAPITAL AND RESERVES

Called up share capital

5

3

Profit and loss account

534,750

412,314

SHAREHOLDERS' FUNDS

534,753

412,317

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 7 March 2016 and were signed on its behalf by:

E B G Velthuis - Director

I C John - Director

1.	ACCOUNTING POLICIES

Accounting convention

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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

250,000

AMORTISATION

At 1 January 2015

and 31 December 2015

250,000

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

401,526

Additions

3,584

At 31 December 2015

405,110

DEPRECIATION

At 1 January 2015

278,918

Charge for year

31,548

At 31 December 2015

310,466

NET BOOK VALUE

At 31 December 2015

94,644

At 31 December 2014

122,608

4.

CREDITORS

Creditors include an amount of £ 0 (2014 - £ 20,268 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

333

Ordinary

£0.01

3

(2014 - 3 )

330 Ordinary shares of £0.01 each were allotted and fully paid for cash at par during the year.

Existing shares of £1 each were split into 100 £0.01 shares and an additional 33 £0.01 shares were allotted.

Lorne Laboratories Limited - Limited company - abbreviated - 11.9

Lorne Laboratories Limited - Limited company - abbreviated - 11.9