Litfield Land Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03062821 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

for

Litfield Land Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

S M Caple

SECRETARY:

Mrs A L Caple

REGISTERED OFFICE:

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

REGISTERED NUMBER:

03062821 (England and Wales)

FIXED ASSETS

Tangible assets

2

4,521

5,638

Investment property

3

5,474,889

5,145,929

5,479,410

5,151,567

CURRENT ASSETS

Stocks

2,806

394

Debtors

90,883

79,590

93,689

79,984

CREDITORS

Amounts falling due within one year

4

331,148

283,452

NET CURRENT LIABILITIES

(237,459

)

(203,468

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,241,951

4,948,099

CREDITORS

Amounts falling due after more than one
year

4

(2,292,213

)

(2,077,707

)

PROVISIONS FOR LIABILITIES

(904

)

(1,128

)

NET ASSETS

2,948,834

2,869,264

CAPITAL AND RESERVES

Called up share capital

5

10

Revaluation reserve

1,882,562

Profit and loss account

1,066,262

986,692

SHAREHOLDERS' FUNDS

2,948,834

2,869,264

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 13 January 2017 and were signed by:

S M Caple - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

To comply with FRSSE, the company has departed from the Companies Act 1985 in order to give a true and fair

view of the investment property valuation.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

13,250

Additions

323

At 31 May 2016

13,573

DEPRECIATION

At 1 June 2015

7,612

Charge for year

1,440

At 31 May 2016

9,052

NET BOOK VALUE

At 31 May 2016

4,521

At 31 May 2015

5,638

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 June 2015

5,145,929

Additions

328,960

At 31 May 2016

5,474,889

NET BOOK VALUE

At 31 May 2016

5,474,889

At 31 May 2015

5,145,929

4.

CREDITORS

Creditors include an amount of £ 2,396,837 (31.5.15 - £ 2,182,331 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.5.16

31.5.15

£

Repayable otherwise than by instalments

1,140,000

820,000

Repayable by instalments

733,717

839,211

1,873,717

1,659,211

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

10

Ordinary

£1

10