Abbreviated Company Accounts - LIPAX CONSTRUCTION LIMITED

LIPAX CONSTRUCTION LIMITED - Company Information

Registered Number 05872230

LIPAX CONSTRUCTION LIMITED

Abbreviated Accounts

31 July 2015

LIPAX CONSTRUCTION LIMITED Registered Number 05872230

Abbreviated Balance Sheet as at 31 July 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	12,533	16,711
		12,533	16,711
Current assets
Debtors		626	-
Cash at bank and in hand		101,048	98,326
		101,674	98,326
Creditors: amounts falling due within one year		(48,235)	(75,405)
Net current assets (liabilities)		53,439	22,921
Total assets less current liabilities		65,972	39,632
Total net assets (liabilities)		65,972	39,632
Capital and reserves
Called up share capital		3	3
Profit and loss account		65,969	39,629
Shareholders' funds		65,972	39,632

For the year ending 31 July 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 25 April 2016

And signed on their behalf by:
Mr M JENDRYCH, Director

LIPAX CONSTRUCTION LIMITED Registered Number 05872230

Notes to the Abbreviated Accounts for the period ended 31 July 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to
customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their
estimated useful lives.
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

Other accounting policies
Stocks
Stock is valued at the lower of cost and net realisable value.

Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the
recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred
taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in
the periods when the timing differences will reverse.

2Tangible fixed assets

	£
Cost
At 1 August 2014	29,442
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2015	29,442
Depreciation
At 1 August 2014	12,731
Charge for the year	4,178
On disposals	-
At 31 July 2015	16,909
Net book values
At 31 July 2015	12,533
At 31 July 2014	16,711