LENTELLS_LIMITED - Accounts

LENTELLS LIMITED - Company Information

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Company Registration No. 04622793 (England and Wales)

LENTELLS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

LENTELLS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

29 FEBRUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

130,192

81,071

Current assets

Stocks

45,562

41,172

Debtors

932,612

821,539

Cash at bank and in hand

504,221

422,660

1,482,395

1,285,371

Creditors: amounts falling due within one year

(512,017)

(455,884)

Net current assets

970,378

829,487

Total assets less current liabilities

1,100,570

910,558

Creditors: amounts falling due after more than one year

(524,226)

(451,013)

Provisions for liabilities

(22,952)

(12,737)

553,392

446,808

Capital and reserves

Called up share capital

1,320

Profit and loss account

552,072

445,488

Shareholders' funds

553,392

446,808

LENTELLS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

29 FEBRUARY 2016

- 2 -

For the financial year ended 29 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 20 October 2016

A G Spear

M A Griffiths

Director

Company Registration No. 04622793

LENTELLS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 3 -

Accounting policies

1.1

Accounting convention

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

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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 less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

Straight line over the length of the lease

Plant and machinery

33% straight line computer equipment

Fixtures, fittings & equipment

25% reducing balance

1.6

Revenue recognition

In accordance with UITF 40 revenue recognition and service contracts, the company recognises that the substance of its contracts with clients are that they are performed over time, and therefore it recognises revenue as contract activity progresses by reference to the value of work performed subject to any uncertainties as to the amount the client would accept. Amounts receivable on uninvoiced contracts are included in other debtors.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value.

LENTELLS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 March 2015

10,000

434,658

444,658

Additions

103,121

Disposals

(26,506)

At 29 February 2016

10,000

511,273

521,273

Depreciation

At 1 March 2015

10,000

353,587

363,587

On disposals

(25,116)

Charge for the year

52,610

At 29 February 2016

10,000

381,081

391,081

Net book value

At 29 February 2016

130,192

At 28 February 2015

81,071

Share capital

2016

2015

Allotted, called up and fully paid

1,200 Ordinary Voting Shares of £1 each

1,200

1,200 Ordinary Non-Voting Shares of 10p each

120

1,320

The Ordinary Voting Shares of £1 each carry a right to vote and on a liquidation or capital reduction have a right only to repayment of the amount paid or credited as paid on the voting shares and do not otherwise have any right to participate in the company. The Ordinary Non-Voting Shares of 10 pence each have no right to vote except in limited circumstances set out in the company's Articles of Association and on a liquidation or capital reduction are entitled to any surplus remaining after repayment of the amount paid or credited as paid on the voting and non-voting shares.