Abbreviated Company Accounts - LAKEMEAD CONSTRUCTION LIMITED

LAKEMEAD CONSTRUCTION LIMITED - Company Information

02860624 LAKEMEAD CONSTRUCTION LIMITED 2015-10-31 false 2014-11-01 2015-10-31 true 02860624 2014-11-01 2015-10-31 02860624 2015-10-31 02860624 2014-10-31 02860624 uk-gaap-cd-bus:Director1 2014-11-01 2015-10-31 02860624 uk-gaap-cd-bus:Director2 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass3 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass3 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass3 2014-10-31 iso4217:GBP shares

Registered Number 02860624

LAKEMEAD CONSTRUCTION LIMITED

Abbreviated Accounts

31 October 2015

LAKEMEAD CONSTRUCTION LIMITED Registered Number 02860624

Abbreviated Balance Sheet as at 31 October 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	37,769	4,521
		37,769	4,521
Current assets
Stocks		20,850	23,527
Debtors		98,862	170,762
Investments		51,000	51,000
Cash at bank and in hand		377,639	582,355
		548,351	827,644
Creditors: amounts falling due within one year		(107,082)	(137,440)
Net current assets (liabilities)		441,269	690,204
Total assets less current liabilities		479,038	694,725
Total net assets (liabilities)		479,038	694,725
Capital and reserves
Called up share capital	3	60	90
Share premium account		29,970	29,970
Other reserves		60	30
Profit and loss account		448,948	664,635
Shareholders' funds		479,038	694,725

For the year ending 31 October 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 14 July 2016

And signed on their behalf by:
A Stylianou, Director

LAKEMEAD CONSTRUCTION LIMITED Registered Number 02860624

Notes to the Abbreviated Accounts for the period ended 31 October 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
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and VAT. Revenue is mainly generated from the provision of building goods and services. The company recognises revenue based on the stage of completion of basis.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over it's expected useful expected life, as follows:
Fixtures, fittings and equipment - 25% Reducing balance basis
Motor Vehicles - 25% Reducing balance basis

Valuation information and policy
Stock
Stock is valued at the lower of cost and net realisable value, on a First In First Out (FIFO) basis.

Other accounting policies
Investment
Current asset investments are valued at the lower of cost and net realisable value.

Pensions
The pension costs charged in the financial statements represent the contribution payable by the company during the year.

2Tangible fixed assets

	£
Cost
At 1 November 2014	33,671
Additions	47,704
Disposals	(29,807)
Revaluations	-
Transfers	-
At 31 October 2015	51,568
Depreciation
At 1 November 2014	29,150
Charge for the year	12,589
On disposals	(27,940)
At 31 October 2015	13,799
Net book values
At 31 October 2015	37,769
At 31 October 2014	4,521

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
0 A Ordinary shares of £1 each (30 shares for 2014)	0	30
30 B Ordinary shares of £1 each	30	30
30 C Ordinary shares of £1 each	30	30

During the year, the company purchased 30 Ordinary A shares with a nominal value of £1 per share from the director S Bishop for a total consideration of £417,982. This equates to 33% of the company's maximum issued ordinary share capital during the year. The reason for the purchase was due to the director's imminent retirement. These shares were subsequently cancelled after the purchase.