Abbreviated Company Accounts - LAMERTONS WORLD TRAVEL & AIR CARGOES LIMITED

LAMERTONS WORLD TRAVEL & AIR CARGOES LIMITED - Company Information

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Registered Number 00390597

LAMERTONS WORLD TRAVEL & AIR CARGOES LIMITED

Abbreviated Accounts

30 September 2015

LAMERTONS WORLD TRAVEL & AIR CARGOES LIMITED Registered Number 00390597

Abbreviated Balance Sheet as at 30 September 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	300,000	300,000
Investments	3	100	100
		300,100	300,100
Current assets
Debtors		166,637	152,767
		166,637	152,767
Creditors: amounts falling due within one year		(7,254)	(11,412)
Net current assets (liabilities)		159,383	141,355
Total assets less current liabilities		459,483	441,455
Total net assets (liabilities)		459,483	441,455
Capital and reserves
Called up share capital	4	12,500	12,500
Revaluation reserve		209,157	209,157
Profit and loss account		237,826	219,798
Shareholders' funds		459,483	441,455

For the year ending 30 September 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 26 May 2016

And signed on their behalf by:
D Mosselson, Director

LAMERTONS WORLD TRAVEL & AIR CARGOES LIMITED Registered Number 00390597

Notes to the Abbreviated Accounts for the period ended 30 September 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 amounts receivable for goods and services net of vat and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets include investment properties professionally valued by the directors on an existing use open market basis. Other tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment - 10% straight line
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Other accounting policies
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by 399 of the Companies Act 2006 not to prepare group accounts.

2Tangible fixed assets

	£
Cost
At 1 October 2014	320,219
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2015	320,219
Depreciation
At 1 October 2014	20,219
Charge for the year	-
On disposals	-
At 30 September 2015	20,219
Net book values
At 30 September 2015	300,000
At 30 September 2014	300,000

3Fixed assets Investments
Fixed asset investments are stated at cost less provision for diminution in value

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
24,000 Ordinary shares of £0.10 each	2,400	2,400
10,100 3% non-cumulative preference shares of £1 each	10,100	10,100