Abbreviated Company Accounts - LAKE CONSULTANCY AND INVESTMENTS LIMITED

Abbreviated Company Accounts - LAKE CONSULTANCY AND INVESTMENTS LIMITED

LAKE CONSULTANCY AND INVESTMENTS LIMITED - Company Information

Print Friendly Version

Registered Number 01698766

LAKE CONSULTANCY AND INVESTMENTS LIMITED

Abbreviated Accounts

31 March 2016

LAKE CONSULTANCY AND INVESTMENTS LIMITED Registered Number 01698766

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 90,863 85,174
Investments 3 3,169,969 2,932,220
3,260,832 3,017,394
Current assets
Stocks 95,056 95,056
Debtors 127,541 126,127
Cash at bank and in hand 85,324 103,913
307,921 325,096
Creditors: amounts falling due within one year (53,612) (135,055)
Net current assets (liabilities) 254,309 190,041
Total assets less current liabilities 3,515,141 3,207,435
Creditors: amounts falling due after more than one year (731,199) (950,072)
Provisions for liabilities (5,853) -
Total net assets (liabilities) 2,778,089 2,257,363
Capital and reserves
Called up share capital 4 520,100 2
Revaluation reserve 2,242,480 2,242,480
Profit and loss account 15,509 14,881
Shareholders' funds 2,778,089 2,257,363
  • 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 22 December 2016

And signed on their behalf by:
A Burn, Director
C V Burn, Director

LAKE CONSULTANCY AND INVESTMENTS LIMITED Registered Number 01698766

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 April 2008.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

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

Land and buildings No depreciation
Leasehold stables over 15 years straight line
Plant and machinery - other 25% reducing balance
Plant and machinery - computer equipment 33.33% straight line
Motor vehicles 25% reducing balance

Valuation information and policy
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
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.

2Tangible fixed assets
£
Cost
At 1 April 2015 180,736
Additions 37,145
Disposals (24,396)
Revaluations -
Transfers -
At 31 March 2016 193,485
Depreciation
At 1 April 2015 95,562
Charge for the year 13,159
On disposals (6,099)
At 31 March 2016 102,622
Net book values
At 31 March 2016 90,863
At 31 March 2015 85,174

3Fixed assets Investments
This comprises two freehold investment properties that have been revalued by the directors.In addition, capital expenditure of £237,749 was incurred during the year.

4Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
104,100 Ordinary shares of £1 each (2 shares for 2015) 104,100 2
416,000 1% Preference shares shares of £1 each (0 shares for 2015) 416,000 0