| Longfleet Engineering Limited |
|
| Report to the directors on the preparation of the unaudited abbreviated accounts of Longfleet Engineering Limited for the year ended 29 February 2016 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Longfleet Engineering Limited for the year ended 29 February 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/ |
| Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. |
|
| Keith Knowles Accountants Limited |
| Chartered Certified Accountants |
| The History Room at Farm Pottery |
| Pottery Lane, Wrecclesham |
| Farnham |
| Surrey |
| GU10 4QJ |
|
| 2 November 2016 |
|
| Longfleet Engineering Limited |
| Registered number: |
00855056 |
| Abbreviated Balance Sheet |
| as at 29 February 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
1,075,777 |
|
|
953,539 |
|
| Current assets |
| Debtors |
|
|
11,478 |
|
|
24,667 |
| Cash at bank and in hand |
|
|
4,181 |
|
|
213,826 |
|
|
|
15,659 |
|
|
238,493 |
|
| Creditors: amounts falling due within one year |
|
|
(44,165) |
|
|
(140,630) |
|
| Net current (liabilities)/assets |
|
|
|
(28,506) |
|
|
97,863 |
|
| Net assets |
|
|
|
1,047,271 |
|
|
1,051,402 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
11,000 |
|
|
11,000 |
| Share premium |
|
|
|
30,250 |
|
|
30,250 |
| Revaluation reserve |
|
|
|
684,030 |
|
|
684,030 |
| Other reserves |
|
|
|
38,326 |
|
|
38,326 |
| Profit and loss account |
|
|
|
283,665 |
|
|
287,796 |
|
| Shareholders' funds |
|
|
|
1,047,271 |
|
|
1,051,402 |
|
|
|
|
|
|
|
|
| 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. |
| The 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. |
|
|
|
| D R Fernbach |
| Director |
| Approved by the board on 24 October 2016 |
|
| Longfleet Engineering Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 29 February 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 January 2015). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, rents receivable on investment properties, goods provided to customers and work carried out in respect of services provided to customers. |
|
|
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 March 2015 |
953,539 |
|
Additions |
122,238 |
|
At 29 February 2016 |
1,075,777 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 29 February 2016 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 29 February 2016 |
1,075,777 |
|
At 28 February 2015 |
953,539 |
|
|
|
|
|
|
|
|
Freehold land and buildings comprise the investment properties held by the company. Properties are valued on the basis of open market value as at 29 February 2016 by an independent valuer and the company directors. In accordance with Financial Reporting Standard for Smaller Entities (effective January 2015) investment properties have not been depreciated. This policy represents a departure from the requirements of the companies Act 2006, to provide annual depreciation of fixed assets. As the assets are held for investment, the directors consider the adoption of this policy necessary for the financial statements to give a true and fair view. |
|
| 3 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
10,000 |
|
10,000 |
|
10,000 |
|
B Ordinary shares |
£1 each |
|
1,000 |
|
1,000 |
|
1,000 |
|
|
|
|
|
|
11,000 |
|
11,000 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
D R Fernbach |
|
Interest free loan |
- |
|
124,275 |
|
(113,506) |
|
10,769 |
|
|
|
- |
|
124,275 |
|
(113,506) |
|
10,769 |
|
|
|
|
|
|
|
|
|
