L and M Joiners Ltd - Abbreviated accounts 16.1
L and M Joiners Ltd - Abbreviated accounts 16.1
REGISTERED NUMBER: |
L and M Joiners Ltd |
Abbreviated Unaudited Accounts |
for the Year Ended 31 July 2015 |
L and M Joiners Ltd (Registered number: SC403256) |
Contents of the Abbreviated Accounts |
for the Year Ended 31 July 2015 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 4 |
L and M Joiners Ltd |
Company Information |
for the Year Ended 31 July 2015 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
BANKERS: |
L and M Joiners Ltd (Registered number: SC403256) |
Abbreviated Balance Sheet |
31 July 2015 |
2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
Tangible assets | 3 |
CURRENT ASSETS |
Stocks |
Debtors |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 5 |
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. |
L and M Joiners Ltd (Registered number: SC403256) |
Abbreviated Balance Sheet - continued |
31 July 2015 |
The financial statements were approved by the Board of Directors on behalf by: |
L and M Joiners Ltd (Registered number: SC403256) |
Notes to the Abbreviated Accounts |
for the Year Ended 31 July 2015 |
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 January 2015). |
Turnover |
Turnover represents net sales of joinery services, excluding Value Added Tax. |
Revenue is recognised when the company has obtained the right to consideration. |
Goodwill |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its |
estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. |
Plant and machinery - 25% on cost |
Motor vehicles - 25% on cost |
Computer equipment - 33% on cost |
Fixtures and fittings - 25% on cost |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making |
due allowance for obsolete and slow moving items. |
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date where transactions or events have occurred at that date that will result in |
an obligation to pay more, or a right to pay less or to receive more tax. |
Deferred tax assets are recognised only to the extent that the directors consider that it is more |
likely than not that there will be suitable taxable profits from which the future reversal of the |
underlying timing differences can be deducted. |
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the |
periods in which timing differences reverse, based on tax rates and laws enacted or substantively |
enacted at the balance sheet date. |
L and M Joiners Ltd (Registered number: SC403256) |
Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 July 2015 |
1. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
held under finance leases are depreciated over their estimated useful lives or the lease term, |
whichever is the shorter. |
The interest element of these obligations is charged to the profit and loss account over the relevant |
period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to the profit and loss account on a straight line |
basis over the period of the lease. |
2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 August 2014 |
and 31 July 2015 |
AMORTISATION |
At 1 August 2014 |
Amortisation for year |
At 31 July 2015 |
NET BOOK VALUE |
At 31 July 2015 |
At 31 July 2014 |
L and M Joiners Ltd (Registered number: SC403256) |
Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 July 2015 |
3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 August 2014 |
Additions |
At 31 July 2015 |
DEPRECIATION |
At 1 August 2014 |
Charge for year |
At 31 July 2015 |
NET BOOK VALUE |
At 31 July 2015 |
At 31 July 2014 |
4. | CREDITORS |
Creditors include an amount of £ |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
Ordinary | £1 |
6. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of L and M Fife Limited. The company is ultimately |
controlled by D Livingstone and J H Moyes. |