Laxfield Capital Limited - Period Ending 2016-03-31

Registration number: 06425762

Laxfield Capital Limited

Unaudited Abbreviated Accounts

Year Ended 31 March 2016
 

Laxfield Capital Limited
Contents
Year Ended 31 March 2016

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2

Laxfield Capital Limited
(Registration number: 06425762)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Current assets
Debtors					770,890			27,120
Cash at bank and in hand					688,909			969,737
					1,459,799			996,857
Creditors: Amounts falling due within one year					(413,188)			(42,840)
Net assets					1,046,611			954,017
Capital and reserves
Called up share capital		2			100			100
Profit and loss account					1,046,511			953,917
Shareholder's funds					1,046,611			954,017

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

For the year ending 31 March 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.

Approved by the Board on 28 February 2017 and signed on its behalf by:

.........................................
A Slater
Director

The notes on page 2 form an integral part of these financial statements.
Page 1

Laxfield Capital Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2016

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

The turnover shown in the profit and loss account represents amounts for fees raised for arranging loans which are recognised on the completion of each advance.

Deferred tax

Deferred tax is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date without discounting. Deferred tax assets in respect of such timing differences are recognised to the extent that they are regarded as being, more likely than not, recoverable in the short to medium term, and are not discounted.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

End of note

2	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £ 1 each		100			100			100			100

End of note

3

Control

The company is controlled by Laxfield Asset Management Limited which is the parent company and holds 100% of the called up share capital. The ultimate controlling party is Mr A Slater.

End of note

Page 2