Abbreviated Company Accounts - LAFFORD CO LTD

06017119 LAFFORD CO LTD 2016-06-30 false 2015-07-01 2016-06-30 true 06017119 2015-07-01 2016-06-30 06017119 2016-06-30 06017119 2015-06-30 06017119 uk-gaap-cd-bus:Director1 2015-07-01 2016-06-30 06017119 uk-gaap-cd-bus:Director2 2015-07-01 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-01 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-30 iso4217:GBP shares

Registered Number 06017119

LAFFORD CO LTD

Abbreviated Accounts

30 June 2016

LAFFORD CO LTD Registered Number 06017119

Abbreviated Balance Sheet as at 30 June 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	32,800	49,200
Tangible assets	3	31,208	39,137
		64,008	88,337
Current assets
Stocks		46,027	46,502
Debtors		76,692	72,074
Cash at bank and in hand		68,957	78,310
		191,676	196,886
Creditors: amounts falling due within one year		(224,088)	(265,023)
Net current assets (liabilities)		(32,412)	(68,137)
Total assets less current liabilities		31,596	20,200
Creditors: amounts falling due after more than one year		(6,531)	(16,161)
Total net assets (liabilities)		25,065	4,039
Capital and reserves
Called up share capital	4	2	2
Profit and loss account		25,063	4,037
Shareholders' funds		25,065	4,039

For the year ending 30 June 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 27 January 2017

And signed on their behalf by:
Mr N N Singh, Director

LAFFORD CO LTD Registered Number 06017119

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are 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 total invoice value, excluding value added tax, of sales made during the year
and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Plant and machinery - 25% Reducing balance method
Fixtures, fittings
and equipment - 20% Reducing balance method

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.
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.

2Intangible fixed assets

	£
Cost
At 1 July 2015	82,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2016	82,000
Amortisation
At 1 July 2015	32,800
Charge for the year	16,400
On disposals	-
At 30 June 2016	49,200
Net book values
At 30 June 2016	32,800
At 30 June 2015	49,200

Goodwill
Acquired goodwill is written off in equal annual installments over its estimated useful economic life of 5 years.

3Tangible fixed assets

	£
Cost
At 1 July 2015	61,370
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2016	61,370
Depreciation
At 1 July 2015	22,233
Charge for the year	7,929
On disposals	-
At 30 June 2016	30,162
Net book values
At 30 June 2016	31,208
At 30 June 2015	39,137

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2