Company Registration No. 07255148 (England and Wales)
Lindsay of Liphook Ltd
Abbreviated unaudited accounts
for the year ended 31 May 2016
Lindsay of Liphook Ltd
Abbreviated Balance Sheet
as at 31 May 2016
Tangible assets
11,484
2,045
Cash at bank and in hand
5,658
4
Creditors: amounts falling due within one year
(16,569)
(16,041)
Net current assets/(liabilities)
1,737
(6,871)
Total assets less current liabilities
13,221
(4,826)
Provisions for liabilities
(2,297)
-
Net assets/(liabilities)
10,924
(4,826)
Called up share capital
100
100
Profit and loss account
10,824
(4,926)
Total shareholders' funds
10,924
(4,826)
For the year ending 31 May 2016 the company was entitled to exemption from audit 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 director acknowledges her 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 30 September 2016
Joanne Lindsay
Director
Company Registration No. 07255148
Lindsay of Liphook Ltd
Notes to the Abbreviated Accounts
for the year ended 31 May 2016
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
50 & 20% Straight line
Computer equipment
33% Straight line
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 items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
2
Tangible fixed assets
Plant & machinery
Computer equipment
Total
At 1 June 2015
4,090
-
4,090
Additions
12,000
724
12,724
At 31 May 2016
16,090
724
16,814
At 1 June 2015
2,045
-
2,045
Charge for the year
3,245
40
3,285
At 31 May 2016
5,290
40
5,330
At 31 May 2016
10,800
684
11,484
At 31 May 2015
2,045
-
2,045
Lindsay of Liphook Ltd
Notes to the Abbreviated Accounts
for the year ended 31 May 2016
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
