Abbreviated Company Accounts - LARC DEVELOPMENT TRUST

Abbreviated Company Accounts - LARC DEVELOPMENT TRUST

LARC DEVELOPMENT TRUST - Company Information

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Registered Number 03493040

LARC DEVELOPMENT TRUST

Abbreviated Accounts

31 March 2016

LARC DEVELOPMENT TRUST Registered Number 03493040

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 3 2,810,027 2,812,654
2,810,027 2,812,654
Current assets
Stocks 490 50
Debtors 1,704 2,104
Cash at bank and in hand 23,189 11,101
25,383 13,255
Prepayments and accrued income 172 23,655
Creditors: amounts falling due within one year (2,367) (4,173)
Net current assets (liabilities) 23,188 32,737
Total assets less current liabilities 2,833,215 2,845,391
Creditors: amounts falling due after more than one year (437,583) (449,419)
Accruals and deferred income (4,557) (3,004)
Total net assets (liabilities) 2,391,075 2,392,968
Reserves
Revaluation reserve 2,793,689 2,793,689
Other reserves 2,536 8,969
Income and expenditure account (405,150) (409,690)
Members' funds 2,391,075 2,392,968
  • For the year ending 31 March 2016 the company was entitled to exemption 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 directors acknowledge their 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.

Approved by the Board on 1 July 2016

And signed on their behalf by:
C. Boote, Director

LARC DEVELOPMENT TRUST Registered Number 03493040

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the requirements of the Statement of Reporting Practice, accounting and Reporting, by charities.

Turnover policy
Turnover is total income from grants, rent, sales and donations adjusted as necessary for accrued or deferred income. The company is not registered for VAT.

Tangible assets depreciation policy
Land and Buildings 0%
Plant and Machinery generally 20% S/L, PVC panels 10% S/L.
Fixtures and Fittings 15% S/L.

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

3Tangible fixed assets
£
Cost
At 1 April 2015 2,818,275
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2016 2,818,275
Depreciation
At 1 April 2015 5,621
Charge for the year 2,627
On disposals -
At 31 March 2016 8,248
Net book values
At 31 March 2016 2,810,027
At 31 March 2015 2,812,654