Accounts filed on 31-01-2014
Accounts filed on 31-01-2014
trueLSG CAPITAL PROJECTS LTD050138622014-01-31-21399-20843-21397-2084122-21397-20841452855521893431458501052-406699-298112472272360978655736286664897598426763024838157799164838157799164Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with applicable UK accounting standards.
Cash flow statement
The director has taken advantage of the exemption in Financial Reporting Standard No 1 (Revised 1996) from including a cash flow statement in the financial statements on the grounds that the company is small.
Turnover
Turnover represents rent received.
GoodwillPositive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful
life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. Useful
ecomonic lives are reviewed at the end of each reporting period and revised if necessary, subject to the
constraint that the revised life shall not exceed 20 years from the date of acquisition. The carrying amount
at the date of revision is depreciated over the revised estimate of remaining useful economic life.Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and rewards
of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the
balance sheet as a tangible fixed asset and is depreciated in accordance with the above
depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the director considers that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Fixed Assets
Depreciation has not been provided on the freehold property as the Director considers the market value to be in excess of that shown on the balance sheet.
Post retirement benefits
The company has agreed to provide certain additional post-retirement benefits to selected senior employees. The estimated cost of providing such benefits is charged against profits on a systematic basis over the employees' working lives within the company.
8381577991643899383815779916438993Ordinary2122Ordinary12222014-10-21Mr N Pateltruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureLSG CAPITAL PROJECTS LTD2013-02-012014-01-31LSG CAPITAL PROJECTS LTD2012-02-012013-01-31LSG CAPITAL PROJECTS LTD2012-01-31LSG CAPITAL PROJECTS LTD2013-01-31LSG CAPITAL PROJECTS LTD2013-01-31LSG CAPITAL PROJECTS LTD2014-01-31 2014-10-27
