Abbreviated Company Accounts - LIBERUM PROPERTY LTD

LIBERUM PROPERTY LTD - Company Information

08079013 LIBERUM PROPERTY LTD 2016-05-31 false 2015-06-01 2016-05-31 true 08079013 2015-06-01 2016-05-31 08079013 2016-05-31 08079013 2015-05-31 08079013 uk-gaap-cd-bus:Director1 2015-06-01 2016-05-31 08079013 uk-gaap-cd-bus:Director2 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 iso4217:GBP shares

Registered Number 08079013

LIBERUM PROPERTY LTD

Abbreviated Accounts

31 May 2016

LIBERUM PROPERTY LTD Registered Number 08079013

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	542	422
		542	422
Current assets
Debtors		2,874	40,091
Cash at bank and in hand		145,449	57,775
		148,323	97,866
Creditors: amounts falling due within one year		(20,413)	(31,110)
Net current assets (liabilities)		127,910	66,756
Total assets less current liabilities		128,452	67,178
Provisions for liabilities		(108)	(84)
Total net assets (liabilities)		128,344	67,094
Capital and reserves
Called up share capital	3	1	1
Profit and loss account		128,343	67,093
Shareholders' funds		128,344	67,094

For the year ending 31 May 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 24 February 2017

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

LIBERUM PROPERTY LTD Registered Number 08079013

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover, which arises from the company's principal activity, is recognised periodically on the completion of each assignment and is shown net of VAT and trade discounts.

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

Fixtures, fittings & equipment - 33% reducing balance

Other accounting policies
Related party relationships and transactions - During the year the director K Singh paid expenses on the company's behalf of £10 (2015: £5473) was reimbursed £nil (2015: £5490) was advanced £384 (2015: £nil) and repaid the company £40,023 (2015: £nil). At the year end, K Singh owed the company £374 (2015: £40,023).

2Tangible fixed assets

	£
Cost
At 1 June 2015	949
Additions	390
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2016	1,339
Depreciation
At 1 June 2015	527
Charge for the year	270
On disposals	-
At 31 May 2016	797
Net book values
At 31 May 2016	542
At 31 May 2015	422

3Called Up Share Capital
Allotted, called up and fully paid:

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