Livingstone Financial Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07047877 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30th September 2016

for

Livingstone Financial Services Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

K J Ferriby

Miss L F Gresham

Miss R D J Colley

REGISTERED OFFICE:

Andrew Marr Building

Livingstone Road

Hessle

Hull

East Yorkshire

HU13 0EE

REGISTERED NUMBER:

07047877 (England and Wales)

ACCOUNTANTS:

cbaSadofskys

Chartered Accountants

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

FIXED ASSETS

Tangible assets

2

84,405

-

Investments

3

58,064

Investment property

4

489,970

583,753

632,439

641,817

CURRENT ASSETS

Debtors

5

1,417,123

1,414,788

Cash at bank

2,127

7,858

1,419,250

1,422,646

CREDITORS

Amounts falling due within one year

6

1,370,095

1,380,070

NET CURRENT ASSETS

49,155

42,576

TOTAL ASSETS LESS CURRENT
LIABILITIES

681,594

684,393

CREDITORS

Amounts falling due after more than one year

6

(363,565

)

(373,645

)

PROVISIONS FOR LIABILITIES

(16,881

)

-

NET ASSETS

301,148

310,748

CAPITAL AND RESERVES

Called up share capital

7

103

Share premium

72,041

Profit and loss account

229,004

238,604

SHAREHOLDERS' FUNDS

301,148

310,748

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 4th April 2017 and were signed on its behalf by:

K J Ferriby - 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).

Preparation of consolidated financial statements

The financial statements contain information about Livingstone Financial Services Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents management fees receivable from the company's subsidiary.

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

-

10% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

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

Reclassification/transfer

93,783

At 30th September 2016

93,783

DEPRECIATION

Charge for year

9,378

At 30th September 2016

9,378

NET BOOK VALUE

At 30th September 2016

84,405

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1st October 2015

and 30th September 2016

58,064

NET BOOK VALUE

At 30th September 2016

58,064

At 30th September 2015

58,064

The company's investments at the Balance Sheet date in the share capital of companies include the following:

The Informed Partnership Limited

Nature of business: Financial Services

%

Class of shares:

holding

Ordinary £1

100.00

2016

2015

£

Aggregate capital and reserves

526,985

524,648

Profit for the year

630,846

596,227

4.	INVESTMENT PROPERTY

Total

£

COST

At 1st October 2015

583,753

Reclassification/transfer

(93,783

)

At 30th September 2016

489,970

NET BOOK VALUE

At 30th September 2016

489,970

At 30th September 2015

583,753

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 1,400,000 (2015 - £ 1,400,000 )

6.

CREDITORS

Creditors include an amount of £ 373,890 (2015 - £ 487,030 ) for which security has been given.

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

2016

2015

£

Repayable by instalments

319,769

330,693

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

10,256

Ordinary

1p

103

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 two to six) 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 Livingstone Financial Services Limited for the year ended 30th September 2016 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Livingstone Financial Services 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 Livingstone Financial Services Limited and state those matters that we have agreed to state to the Board of Directors of Livingstone Financial Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Livingstone Financial Services Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Livingstone Financial Services 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 loss of Livingstone Financial Services Limited. You consider that Livingstone Financial Services 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 Livingstone Financial Services 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.

cbaSadofskys

Chartered Accountants

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

13th April 2017