Lincs Drywall Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05343071 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 January 2014

for

Lincs Drywall Limited

Page

Company Information

1

Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

DIRECTORS:

K P Wilkes

J O Rainey

Mrs C A Wilkes

Mrs K Rainey

SECRETARY:

Mrs C A Wilkes

REGISTERED OFFICE:

15 Newland

Lincoln

Lincolnshire

LN1 1XG

REGISTERED NUMBER:

05343071 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Lincs Drywall Limited for the year ended 31 January 2014 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Lincs Drywall Limited, as a body, in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lincs

Drywall Limited and state those matters that we have agreed to state to the Board of Directors of Lincs Drywall Limited,

as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of

Directors, as a body, for our work or for this report.

It is your duty to ensure that Lincs Drywall Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lincs Drywall

Limited. You consider that Lincs Drywall Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lincs Drywall Limited. For

this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

20 October 2014

FIXED ASSETS

Tangible assets

2

2,324

3,253

CURRENT ASSETS

Stocks

1,046

633

Debtors

13,465

3,654

Cash at bank

15,508

26,000

30,019

30,287

CREDITORS

Amounts falling due within one year

30,955

31,566

NET CURRENT LIABILITIES

(936

)

(1,279

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,388

1,974

PROVISIONS FOR LIABILITIES

307

458

NET ASSETS

1,081

1,516

CAPITAL AND RESERVES

Called up share capital

3

1,000

1,000

Profit and loss account

81

516

SHAREHOLDERS' FUNDS

1,081

1,516

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 October 2014 and were signed on its behalf by:

K P Wilkes - Director

J O Rainey - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% Straight line

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2013

and 31 January 2014

12,936

DEPRECIATION

At 1 February 2013

9,683

Charge for year

929

At 31 January 2014

10,612

NET BOOK VALUE

At 31 January 2014

2,324

At 31 January 2013

3,253

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,000

Ordinary

£1

1,000

1,000