Lovel Developments (Yorkshire) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05014249 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Lovel Developments (Yorkshire) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

P F Lovel

SECRETARY:

Mrs H M Lovel

REGISTERED OFFICE:

22 Molescroft Road

Beverley

East Yorkshire

HU17 7ED

REGISTERED NUMBER:

05014249 (England and Wales)

ACCOUNTANTS:

Try Lunn & Co

Chartered Accountants

Roland House

Princes Dock Street

HULL HU1 2LD

FIXED ASSETS

Tangible assets

2

20,864

3,320

CURRENT ASSETS

Stocks

184,073

178,415

Debtors

1,601,553

474,333

Cash at bank

119,792

81,291

1,905,418

734,039

CREDITORS

Amounts falling due within one year

1,049,433

733,861

NET CURRENT ASSETS

855,985

178

TOTAL ASSETS LESS CURRENT
LIABILITIES

876,849

3,498

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

876,848

3,497

SHAREHOLDERS' FUNDS

876,849

3,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 15 August 2016 and were signed by:

P F Lovel - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

9,315

Additions

20,380

At 31 December 2015

29,695

DEPRECIATION

At 1 January 2015

5,995

Charge for year

2,836

At 31 December 2015

8,831

NET BOOK VALUE

At 31 December 2015

20,864

At 31 December 2014

3,320

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

1

Ordinary

£1

1

4.	ULTIMATE PARENT COMPANY

Lovel Property Holdings Limited is regarded by the director as being the company's ultimate parent company.

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31 December 2015 the company owed £903 to Mr P F Lovel (2014 £126,633 owed from Mr P F Lovel)

The maximum amount owed by P F Lovel during the year was £100,530.

Interest of £5,469 was charged during the year on overdrawn loan balances.

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P F Lovel and Mrs H M Lovel who own the entire issued share capital of

Lovel Property Holdings Limited.