Loc Properties Limited - Abbreviated accounts 16.1
Loc Properties Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 December 2015 |
| for |
| Loc Properties Limited |
| Loc Properties Limited (Registered number: 08389504) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 December 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Chartered Accountants' Report | 4 |
| Loc Properties Limited |
| Company Information |
| for the Year Ended 31 December 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Loc Properties Limited (Registered number: 08389504) |
| Abbreviated Balance Sheet |
| 31 December 2015 |
| 2015 | 2014 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 2 |
| 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 behalf by: |
| Loc Properties Limited (Registered number: 08389504) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 December 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company made a loss on ordinary activities before tax of £2,039 (2014:£16,814) and currently |
| shows a negative balance sheet position of £20,959 (2014:£18,920). The company meets its day to |
| day working capital requirements via the ongoing support of the directors. The directors have assessed |
| the future cash flows and the continuation of support from the directors for a period of no less than one |
| year from the date of this report and have reached the conclusion that it is appropriate to prepare the |
| financial statements on a going concern basis. |
| 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 January 2015). |
| Stocks |
| Stock represents properties under development or held for resale and are valued at the lower of cost |
| and net realisable value. Interest charges incurred directly attributable to the construction of stock |
| amounting to £27,775 (2014: £11,733) for the year and totalling £39,509 have been included within the |
| closing stock figure. |
| Deferred tax |
| Deferred tax is recognised in respect of all material timing differences that have originated but not |
| reversed at the balance sheet date. |
| 2. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary A | £1 |
| Ordinary B | £1 |
| 100 | 100 |
| 3. | ULTIMATE CONTROLLING PARTY |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Loc Properties Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's |
| annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on |
| pages two to three) have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
| the financial statements of Loc Properties Limited for the year ended 31 December 2015 which comprise the |
| Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records |
| and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Loc Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Loc Properties Limited and state those matters that we have agreed to state to the Board of Directors of Loc Properties Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Loc Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Loc Properties Limited. You consider that Loc Properties Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Loc Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 22 March 2016 |