Louth Volks World Limited - Period Ending 2016-01-31
Louth Volks World Limited - Period Ending 2016-01-31
Registration number:
Unaudited
Abbreviated Accounts
FOR THE
Year Ended
Louth Volks World Limited
Contents
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Louth Volks World Limited
(Registration number: 05618968)
Abbreviated Balance Sheet at 31 January 2016
Note |
2016
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2015
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Fixed assets |
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Tangible fixed assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
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D J Rankin
Director
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J Chambers
Director
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D Drury
Director
1
Louth Volks World Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued
Accounting policies |
Basis of preparation
Turnover
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
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Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Leasehold improvements |
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Plant and machinery |
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Motor vehicles |
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Office equipment |
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Stock
Deferred tax
Hire purchase and leasing
Louth Volks World Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued
Fixed assets |
Intangible assets
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Tangible assets
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Total
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Cost |
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At 1 February 2015 |
16,000 |
174,775 |
190,775 |
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Additions |
- |
18,453 |
18,453 |
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At 31 January 2016 |
16,000 |
193,228 |
209,228 |
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Depreciation |
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At 1 February 2015 |
16,000 |
110,151 |
126,151 |
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Charge for the year |
- |
14,253 |
14,253 |
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At 31 January 2016 |
16,000 |
124,404 |
140,404 |
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Net book value |
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At 31 January 2016 |
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At 31 January 2015 |
- |
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Creditors |
Creditors includes the following liabilities, on which security has been given by the company:
2016
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2015
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Amounts falling due within one year |
526,409 |
259,671 |
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Amounts falling due after more than one year |
- |
251,441 |
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Total secured creditors |
526,409 |
511,112 |
Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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Louth Volks World Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued
Related party transactions |
Directors' advances and credits |
2016 |
2016 |
2015 |
2015 |
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D Drury |
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- |
27,493 |
5,200 |
J Chambers |
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- |
566 |
4,800 |
D J Rankin |
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- |
21,475 |
4,800 |