LIME_TREE_GALLERIES_LIMIT - Accounts

LIME TREE GALLERIES LTD - Company Information

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Company Registration No. 05886003 (England and Wales)

LIME TREE GALLERIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

LIME TREE GALLERIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

LIME TREE GALLERIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

9,842

10,669

Current assets

Debtors

1,174

643

Cash at bank and in hand

47,246

23,502

48,420

24,145

Creditors: amounts falling due within one year

(156,583)

(157,254)

Net current liabilities

(108,163)

(133,109)

Total assets less current liabilities

(98,321)

(122,440)

Capital and reserves

Called up share capital

100

Profit and loss account

(98,421)

(122,540)

Shareholders' funds

(98,321)

(122,440)

For the financial year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 June 2016

Mr S P Edwards

Director

Company Registration No. 05886003

LIME TREE GALLERIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The accounts have been prepared upon the going concern basis dependent upon the continued support of the directors who are the major creditors, as shown in Note 6 to the accounts.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised at the point of sale.

1.4

Tangible fixed assets and depreciation

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:

Land and buildings Leasehold

5% reducing balance

Fixtures, fittings & equipment

20% reducing balance

Fixed assets

Tangible assets

Cost

At 1 October 2014 & at 30 September 2015

21,834

Depreciation

At 1 October 2014

11,165

Charge for the year

827

At 30 September 2015

11,992

Net book value

At 30 September 2015

9,842

At 30 September 2014

10,669

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100