Stephen R. Lough & Co. Limited

STEPHEN R. LOUGH & CO. LIMITED - Company Information

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Registered number: 4629791

Abbreviated accounts

For The Year Ended 31 December 2015

Stephen R. Lough & Co. Ltd.

CPAA

The Gatehouse, Jopling & Turnbull Centre

Factory Road

Blaydon on Tyne

Tyne and Wear

NE21 5RU

Stephen R. Lough & Co. Limited

Company No. 4629791

Abbreviated Balance Sheet 31 December 2015

Abbreviated Balance Sheet

		2015		2014
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	2		11,383		13,003
Tangible Assets	3		3,292		2,559

			14,675		15,562
CURRENT ASSETS
Stocks		4,761		2,368
Debtors		3,371		4,434

		8,132		6,802
Creditors: Amounts Falling Due Within One Year		(16,666)		(13,435)

NET CURRENT ASSETS (LIABILITIES)			(8,534)		(6,633)

TOTAL ASSETS LESS CURRENT LIABILITIES			6,141		8,929

NET ASSETS			6,141		8,929

CAPITAL AND RESERVES
Called up share capital	4		10		10
Profit and Loss Account			6,131		8,919

SHAREHOLDERS' FUNDS			6,141		8,929

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Stephen R. Lough & Co. Limited

Company No. 4629791

Abbreviated Balance Sheet (continued) 31 December 2015

For the year ending 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr Stephen Lough

28/09/2016

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Stephen R. Lough & Co. Limited

Notes to the Abbreviated Accounts

For The Year Ended 31 December 2015

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Statement of Cash Flow

The company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of trade discounts. The company is not registered for Value added tax.

Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.

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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% on cost
Fixtures & Fittings	15% on cost

Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Intangible Assets


	Total
Cost	£
As at 1 January 2015	32,392

As at 31 December 2015	32,392

Amortisation
As at 1 January 2015	19,389
Provided during the period	1,620

As at 31 December 2015	21,009

Net Book Value
As at 31 December 2015	11,383

As at 1 January 2015	13,003

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Stephen R. Lough & Co. Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 December 2015

Tangible Assets


	Total
Cost	£
As at 1 January 2015	3,831
Additions	1,398

As at 31 December 2015	5,229

Depreciation
As at 1 January 2015	1,272
Provided during the period	733
Disposals	(68)

As at 31 December 2015	1,937

Net Book Value
As at 31 December 2015	3,292

As at 1 January 2015	2,559

Share Capital

	Value	Number	2015	2014
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	10	10	10

Transactions With and Loans to Directors

Dividends paid to directors

Ultimate Controlling Party

The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.

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