L._REDMOND_(SERVICES)_LIM - Accounts

L. REDMOND (SERVICES) LIMITED - Company Information

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Company Registration No. 01264042 (England and Wales)

L. REDMOND (SERVICES) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

L. REDMOND (SERVICES) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

L. REDMOND (SERVICES) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

175,000

Investments

5,171

180,171

Current assets

Debtors

150

Cash at bank and in hand

310,092

222,257

310,092

222,407

Creditors: amounts falling due within one year

(360)

(2,220)

Net current assets

309,732

220,187

Total assets less current liabilities

314,903

400,358

Capital and reserves

Called up share capital

100

Revaluation reserve

105,367

Other reserves

Profit and loss account

314,803

294,891

Shareholders' funds

314,903

400,358

For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 9 December 2016

A Redmond

Director

Company Registration No. 01264042

L. REDMOND (SERVICES) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 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).

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 the amount of rent receivable by the company in the year.

1.4

Tangible fixed assets and depreciation

Investment properties are included in the balance sheet at their open market value. Depreciation is not provided as all properties held are freehold. This is in line with the generally accepted accounting principle set out in the FRSSE and SSAP19. The directors consider that, as these properties are not held for consumption, but for their investment potential, that to depreciate would not give a true and fair view.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Revenue recognition

Revenue is recognised at the time that rents become due from the tenant.

L. REDMOND (SERVICES) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 July 2015

175,000

5,171

180,171

Disposals

(175,000)

At 30 June 2016

5,171

At 30 June 2015

175,000

5,171

180,171

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

L.C. (Estates & Finance) Limited

England & Wales

Ordinary

50.00

L.C. Properties (Northern) Limited

England & Wales

Ordinary

50.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

L.C. (Estates & Finance) Limited

Holding Company

20,100

L.C. Properties (Northern) Limited

Property Investment

143,975

97,397

The holding in L.C. Properties (Northern) Limited is indirect, this company is a wholly owned subsidiary undertaking of L.C. (Estates & Finance) Limited.

Share capital

2016

2015

Allotted, called up and fully paid

32 Ordinary shares of £1 each

100

On the 31 March 2016 the company bought back 24 Ordinary £1 shares & on the 11 April 2016 bought back a further 44 Ordinary £1 shares at a total premium of £130,492.