Abbreviated Company Accounts - LUBING (UK & IRELAND) LIMITED

Abbreviated Company Accounts - LUBING (UK & IRELAND) LIMITED

LUBING (UK & IRELAND) LIMITED - Company Information

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Registered Number 06574398

LUBING (UK & IRELAND) LIMITED

Abbreviated Accounts

31 December 2015

LUBING (UK & IRELAND) LIMITED Registered Number 06574398

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 554,767 534,385
554,767 534,385
Current assets
Stocks 330,000 356,501
Debtors 545,036 471,807
Cash at bank and in hand 379,037 287,085
1,254,073 1,115,393
Creditors: amounts falling due within one year (433,290) (403,068)
Net current assets (liabilities) 820,783 712,325
Total assets less current liabilities 1,375,550 1,246,710
Creditors: amounts falling due after more than one year (77,296) (140,660)
Provisions for liabilities (16,544) (12,467)
Total net assets (liabilities) 1,281,710 1,093,583
Capital and reserves
Called up share capital 90,000 90,000
Profit and loss account 1,191,710 1,003,583
Shareholders' funds 1,281,710 1,093,583
  • For the year ending 31 December 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 3 August 2016

And signed on their behalf by:
J Mettrick, Director

LUBING (UK & IRELAND) LIMITED Registered Number 06574398

Notes to the Abbreviated Accounts for the period ended 31 December 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 chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
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:
Plant & Machinery 25% straight line
Fixture & Fittings 33% straight line
Motor Vehicles 25% straight line
Office Equipment 33% straight line

Valuation information and policy
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs

2Tangible fixed assets
£
Cost
At 1 January 2015 603,491
Additions 52,966
Disposals -
Revaluations -
Transfers -
At 31 December 2015 656,457
Depreciation
At 1 January 2015 69,106
Charge for the year 32,584
On disposals -
At 31 December 2015 101,690
Net book values
At 31 December 2015 554,767
At 31 December 2014 534,385