Lincoln Teleservice Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03469849 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2016

FOR

LINCOLN TELESERVICE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

D A Wilkinson

D R Wilson

REGISTERED OFFICE:

123-125 Burton Road

Lincoln

Lincolnshire

LN1 3LN

REGISTERED NUMBER:

03469849 (England and Wales)

ACCOUNTANTS:

Russell Payne & Co Limited

Landmark House

1 Riseholme Road

Lincoln

Lincolnshire

LN1 3SN

FIXED ASSETS

Tangible assets

2

197

270

CURRENT ASSETS

Stocks

17,731

18,002

Debtors

21,160

22,528

Cash in hand

2,480

2,919

41,371

43,449

CREDITORS

Amounts falling due within one year

41,405

43,669

NET CURRENT LIABILITIES

(34

)

(220

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

163

50

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

159

46

SHAREHOLDERS' FUNDS

163

50

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 7 March 2017 and were signed on its behalf by:

D A Wilkinson - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Rent Equipment

-

33% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

125,572

DEPRECIATION

At 1 July 2015

125,302

Charge for year

73

At 30 June 2016

125,375

NET BOOK VALUE

At 30 June 2016

197

At 30 June 2015

270

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

1

2

1

B Ordiinary

£1

1

C Ordinary

£1

1

4