S_LATHAM_PROPERTY_SERVICE - Accounts

S LATHAM PROPERTY SERVICES LIMITED - Company Information

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Company Registration No. 07262279 (England and Wales)

S LATHAM PROPERTY SERVICES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

S LATHAM PROPERTY SERVICES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

S LATHAM PROPERTY SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

36,979

9,739

Tangible assets

255,995

271,730

292,974

281,469

Current assets

Debtors

4,604

61,502

Cash at bank and in hand

10,546

4,377

15,150

65,879

Creditors: amounts falling due within one year

(457,116)

(536,102)

Net current liabilities

(441,966)

(470,223)

Total assets less current liabilities

(148,992)

(188,754)

Creditors: amounts falling due after more than one year

(176,057)

(105,642)

(325,049)

(294,396)

Capital and reserves

Called up share capital

Profit and loss account

(325,050)

(294,397)

Shareholder's funds

(325,049)

(294,396)

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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 23 December 2016

S Latham

Director

Company Registration No. 07262279

S LATHAM PROPERTY SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

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).

The company has made a loss during the year of £30,653 compared to a loss in the previous period of £23,294. The director is of the opinion that the company will return to profitability in the near future. The company meets its day to day working capital requirements through secured and guaranteed bank borrowings, together with the support of the company's director who has confirmed that he will continue to support the company in this manner for the forseeable future.

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 other than freehold land 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 Freehold

5% straight line

Plant and machinery

25% reducing balance

S LATHAM PROPERTY SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2015

37,482

320,331

357,813

Additions

37,800

1,104

38,904

At 31 March 2016

75,282

321,435

396,717

Depreciation

At 1 April 2015

27,743

48,601

76,344

Charge for the period

10,560

16,839

27,399

At 31 March 2016

38,303

65,440

103,743

Net book value

At 31 March 2016

36,979

255,995

292,974

At 31 March 2015

9,739

271,730

281,469

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total not repayable by instalments and due in more than five years

94,266

84,448

The aggregate amount of creditors for which security has been given amounted to £127,766 (2015 - £90,382).

One of the long term loans is secured by a fixed charge over the company's freehold property. The aggregate amount due on this long term loan is £127,766 (2015 - £90,382).

Share capital

2016

2015

Allotted, called up and fully paid

1 ordinary share of £1 each

Ultimate parent company

The ultimate parent company is Elite Estate Developments Limited, a company registered in England and Wales.