Lamis Investments Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 07482165 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

LAMIS INVESTMENTS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

C Josefovitz

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

07482165 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

2

4,015

224

Investment property

3

304,761

308,776

304,985

CURRENT ASSETS

Stocks

-

60,210

Debtors

68,458

-

Cash at bank

34,122

4,912

102,580

65,122

CREDITORS

Amounts falling due within one year

4

50,191

283,904

NET CURRENT ASSETS/(LIABILITIES)

52,389

(218,782

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

361,165

86,203

CREDITORS

Amounts falling due after more than one
year

4

342,664

88,992

NET ASSETS/(LIABILITIES)

18,501

(2,789

)

CAPITAL AND RESERVES

Called up share capital

5

2

Profit and loss account

18,499

(2,791

)

SHAREHOLDERS' FUNDS

18,501

(2,789

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 21 March 2017 and were signed by:

C Josefovitz - 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 rent receivable, 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Investment property

In accordance with Financial Reporting standard for Smaller Entities (effective January 2015), no depreciation or

amortisation is provided in respect of freehold investment properties nor on leasehold investment properties

having an unexpired term of more than twenty years. This departure from the requirements of the Companies Act

2006, for all properties to be depreciated, is necessary, as the director considers that this accounting policy

results in the financial statements giving true and fair view.

Stocks

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

moving items.

Investment properties

Investment Properties are included in the Balance Sheet at historical cost, which is not in accordance with

Financial Reporting Standard for Smaller Entities (effective January 2015), which requires such properties to be

stated at current market value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

1,110

Additions

4,800

At 31 March 2016

5,910

DEPRECIATION

At 1 April 2015

886

Charge for year

1,009

At 31 March 2016

1,895

NET BOOK VALUE

At 31 March 2016

4,015

At 31 March 2015

224

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2015

and 31 March 2016

304,761

NET BOOK VALUE

At 31 March 2016

304,761

At 31 March 2015

304,761

4.

CREDITORS

Creditors include an amount of £ 342,806 for which security has been given.

They also include the following debts falling due in more than five years:

31.3.16

31.3.15

£

Repayable by instalments

342,664

88,992

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

2

Ordinary

£1

2