Limecraft Limited - Abbreviated accounts

Registered number

02469942

Limecraft Limited

Abbreviated Accounts

31 March 2016

Limecraft Limited
Registered number:		02469942
Abbreviated Balance Sheet
as at 31 March 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		973,607			974,417

Current assets
Debtors		1,181			8,246
Cash at bank and in hand		32,054			32,218
		33,235			40,464

Creditors: amounts falling due within one year		(315,899)			(293,917)

Net current liabilities			(282,664)			(253,453)

Total assets less current liabilities			690,943			720,964

Creditors: amounts falling due after more than one year			(288,839)			(337,707)



Net assets			402,104			383,257

Capital and reserves
Called up share capital	4		100			100
Profit and loss account			402,004			383,157

Shareholders' funds			402,104			383,257

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Nilesh Patel
Director
Approved by the board on 27 October 2016

Limecraft Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2016

1	Accounting policies

	Basis of preparation
	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
	Turnover represents the value, net of value added tax and discounts, of rents receivable for the period.

	Investment Property
	Investment properties are revalued annually. Surpluses or deficits on individual properties are transferred to the investment revaluation reserve, except that a deficit which is expected to be permanent and which is in excess of any previously recognised surplus over cost relating to the same property, or the reversal of such a deficit, is charged (or credited) to the profit and loss account. Depreciation is not provided in respect of freehold investment properties, or in respect of leasehold investment properties where the unexpired term of the lease is more than 20 years. The directors consider that this accounting policy, which represents a departure from the statutory accounting rules, is necessary to provide a true and fair view as required under Financial Reporting Standard for Smaller Entities. The financial effect of the departure from the statutory accounting rules is not material.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Land and buildings			not provided
	Fixtures & fittings			20% reducing balance

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.


2	Tangible fixed assets					£

	Cost
	At 1 April 2015					994,751
	At 31 March 2016					994,751

	Depreciation
	At 1 April 2015					20,334
	Charge for the year					810
	At 31 March 2016					21,144

	Net book value
	At 31 March 2016					973,607
	At 31 March 2015					974,417


3	Loans					2016		2015
£							£
	Creditors include:
	Amounts falling due for payment after more than five years					122,432		122,432
	Secured bank loans					335,839		382,707


4	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100