THE_LOWICK_HALL_ESTATES_L - Accounts

LOWICK HALL ESTATES LIMITED(THE) - Company Information

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Company Registration No. 00368118 (England and Wales)

THE LOWICK HALL ESTATES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 12 MAY 2016

THE LOWICK HALL ESTATES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

THE LOWICK HALL ESTATES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

12 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,534,232

1,582,592

Investments

1,099,376

1,208,185

2,633,608

2,790,777

Current assets

Stocks

15,707

Debtors

278,992

371,815

Cash at bank and in hand

15,435

32,090

310,134

419,612

Creditors: amounts falling due within one year

(96,742)

(94,301)

Net current assets

213,392

325,311

Total assets less current liabilities

2,847,000

3,116,088

Creditors: amounts falling due after more than one year

(59,833)

2,847,000

3,056,255

Capital and reserves

Called up share capital

235,000

Revaluation reserve

1,233,816

1,431,640

Profit and loss account

1,378,184

1,389,615

Shareholders' funds

2,847,000

3,056,255

THE LOWICK HALL ESTATES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

12 MAY 2016

- 2 -

For the financial year ended 12 May 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 30 January 2017

RHT Barber

Director

Company Registration No. 00368118

THE LOWICK HALL ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 12 MAY 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings 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 amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

10% Straight line/Nil

Office Equipment, Fixtures and Fittings

5/10/20% Straight line

Farm Plant

10% Straight line

Motor vehicles

25% Reducing balance

The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.

Although Companies Act requires annual depreciation of fixed assets, freehold land and buildings are not depreciated. The directors believe that the policy of not providing depreciation is necessary in order for the accounts to give a true and fair view.

1.5

Investments

Fixed asset investments are stated at market value at the balance sheet date, except for unlisted investments some of which are included at cost.The directors believe that this policy is necessary in order for the accounts to give a true and fair view, since the market value of investments are of more importance rather than initial cost.

1.6

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value.

THE LOWICK HALL ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 12 MAY 2016

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 13 May 2015

1,826,319

1,208,185

3,034,504

Additions

365,089

Revaluation

(50,018)

Disposals

(41,249)

(423,880)

(465,129)

At 12 May 2016

1,785,070

1,099,376

2,884,446

Depreciation

At 13 May 2015

243,727

Charge for the year

7,111

At 12 May 2016

250,838

Net book value

At 12 May 2016

1,534,232

1,099,376

2,633,608

At 12 May 2015

1,582,592

1,208,185

2,790,777

The unlisted investments are shown at cost as no ready open market exists for resale. The directors consider the open market value of the unlisted investments to be in excess of cost.

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £59,833).

Share capital

2016

2015

Allotted, called up and fully paid

3,000 Ordinary shares of £1 each

3,000

20,000 Preference shares of £1 each

20,000

212,000 A Preference shares of £1 each

212,000

235,000