Abbreviated Company Accounts - LYE AND SONS LIMITED

LYE AND SONS LIMITED - Company Information

00293382 LYE AND SONS LIMITED 2015-09-30 false 2014-10-01 2015-09-30 true 00293382 2014-10-01 2015-09-30 00293382 2015-09-30 00293382 2014-09-30 00293382 uk-gaap-cd-bus:Director1 2014-10-01 2015-09-30 00293382 uk-gaap-cd-bus:Director2 2014-10-01 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-01 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-09-30 iso4217:GBP shares

Registered Number 00293382

LYE AND SONS LIMITED

Abbreviated Accounts

30 September 2015

LYE AND SONS LIMITED Registered Number 00293382

Abbreviated Balance Sheet as at 30 September 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	1,095,325	1,062,989
Investments	3	643,499	643,499
		1,738,824	1,706,488
Current assets
Debtors	4	2,598,980	2,521,171
		2,598,980	2,521,171
Creditors: amounts falling due within one year		(104,289)	(90,162)
Net current assets (liabilities)		2,494,691	2,431,009
Total assets less current liabilities		4,233,515	4,137,497
Total net assets (liabilities)		4,233,515	4,137,497
Capital and reserves
Called up share capital	5	198,434	198,434
Revaluation reserve		318,901	318,901
Profit and loss account		3,716,180	3,620,162
Shareholders' funds		4,233,515	4,137,497

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 24 May 2016

And signed on their behalf by:
D Mosselson, Director

LYE AND SONS LIMITED Registered Number 00293382

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 rents and service charges receivable.

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:
Plant and machinery - 15% reducing balance
Fixtures, fittings & equipment - 15% reducing balance
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
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

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	1,089,786
Additions	32,450
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2015	1,122,236
Depreciation
At 1 October 2014	26,797
Charge for the year	114
On disposals	-
At 30 September 2015	26,911
Net book values
At 30 September 2015	1,095,325
At 30 September 2014	1,062,989

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

4Debtors

	2015 £	2014 £
Debtors include the following amounts due after more than one year	541,000	541,000

5Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
198,434 Ordinary shares of £1 each	198,434	198,434