Company Registration number 03300715
LAKOTA LIMITED
Abbreviated Accounts
For the year ended 31 January 2014
LAKOTA LIMITED
Financial statements for the year ended 31 January 2014
Contents
Pages
Balance sheet
1
Notes to the financial statements
2
LAKOTA LIMITED
Abbreviated balance sheet as at 31 January 2014
2014
2013
Notes
£
£
£
£
£
£
Fixed assets
Tangible assets
131,641
137,910
2
Current assets
Debtors
641,754
630,901
Cash at bank and in hand
19,607
5,500
661,361
636,401
Creditors:
amounts falling due within one year
(67,412)
(35,165)
Net current assets
593,949
601,236
Total assets less current liabilities
725,590
739,146
Creditors: amounts falling due after more than one year
(80,443)
(83,044)
3
645,147
656,102
Capital and reserves
Called up share capital
533
533
4
Profit and loss account
644,614
655,569
Shareholders' funds
645,147
656,102
For the financial year ended 31 January 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with Section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These accounts have been prepared in accordance with the special provisions relating to small companies within part VII of the Companies Act 1985 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Approved by the board of directors on 28 October 2014 and signed on its behalf.
__________________________ C L Burgess - Director
Company Registration No: 03300715
The notes on pages 2 to 2 form part of these financial statements.
1
LAKOTA LIMITED
Notes to the abbreviated accounts for the year ended 31 January 2014
1
Accounting policies
a)
Basis of accounting
The financial statements are prepared on the historical cost basis of accounting and have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company has taken advantage of the exemption, conferred by Financial Reporting Standard 1, from presenting a cash flow statement as it qualifies as a small company.
b)
Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.
c)
Depreciation of tangible fixed assets
Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:
Freehold buildings
4% on cost
2
Fixed assets
Tangible
fixed
assets
£
£
£
Cost:
At 1 February 2013
158,068
Depreciation:
At 1 February 2013
20,158
Provision for the year
6,269
At 31 January 2014
26,427
Net book value:
At 31 January 2014
131,641
At 31 January 2013
137,910
3
Creditors: amounts falling due after more than one year
2014
2013
£
£
£
£
£
£
Bank loans
80,443
83,044
4
Called-up share capital
2014
2013
2014
2013
£
£
£
£
£
£
£
£
£
£
£
£
Allotted, called up and fully paid
Equity shares:
Ordinary shares of £1 each
533
533
2
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