P Lonergan Limited
P Lonergan Limited
Registered number: SC243948
Director's Report and
Unaudited Financial Statements
For The Year Ended 31 March 2016
J McNally Limited
Certified Accountants
16 Orchard Drive
Glasgow
G46 7NU
P Lonergan Limited
Director's Report and Financial Statements
For The Year Ended 31 March 2016
Director's Report and Financial Statements
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| Company Information | 1 |
| Director's Report | 2 |
| Accountants' Report | 3 |
| Dormant Profit and Loss Account Statement | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6—7 |
P Lonergan Limited
Company Information
For The Year Ended 31 March 2016
Company Information
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Page 1
P Lonergan Limited
Company No. SC243948
Director's Report For The Year Ended 31 March 2016
Director's Report
The director presents her report and the financial statements for the year ended 31 March 2016 .
Statement of Director's Responsibilities
The director is responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
Principal Activity
The company's principal activity continues to be that of (please complete sentence)
Directors
The directors who held office during the year were as follows:
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Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
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Page 2
P Lonergan Limited
Accountants' Report
For The Year Ended 31 March 2016
Accountants' Report
Report to the director on the preparation of the unaudited statutory accounts of P Lonergan Limited For The Year Ended 31 March 2016
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of P Lonergan Limited which comprise the Profit and Loss Account, 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://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of P Lonergan Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of P Lonergan Limited and state those matters that we have agreed to state to the director of P Lonergan Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P Lonergan Limited and its director as a body for our work or for this report.
It is your duty to ensure that P Lonergan Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of P Lonergan Limited . You consider that P Lonergan Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of P Lonergan Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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28th December 2016
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J McNally Limited
Certified Accountants
16 Orchard Drive
Glasgow
G46 7NU
Page 3
P Lonergan Limited
Dormant Profit and Loss Account Statement
For The Year Ended 31 March 2016
Dormant Profit and Loss Account Statement
The company has not traded during the year or the preceding financial year. During these years, the company received no income and incurred no expenditure and therefore made neither profit nor loss.
Page 4
P Lonergan Limited
Balance Sheet
As at
31 March 2016
Balance Sheet
| 2016 | 2015 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| 51 | 51 | ||||
| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS |
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Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges her 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).
On behalf of the board
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Page 5
P Lonergan Limited
Notes to the Unaudited Accounts
For The Year Ended 31 March 2016
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
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.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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Operating Profit
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| Depreciation of tangible fixed assets |
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Tangible Assets
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Creditors: Amounts Falling Due Within One Year
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| Bank loans and overdrafts | 306 | 306 | |
| Accruals and deferred income |
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Page 6
P Lonergan Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2016
6.
Ultimate Controlling Party
The company's ultimate controlling party is P Lonergan by virtue of her ownership of 100% of the issued share capital in the company.
Page 7