Abbreviated Company Accounts - LIPAX CONSTRUCTION LIMITED

LIPAX CONSTRUCTION LIMITED - Company Information

Registered Number 05872230

LIPAX CONSTRUCTION LIMITED

Abbreviated Accounts

31 July 2016

LIPAX CONSTRUCTION LIMITED Registered Number 05872230

Abbreviated Balance Sheet as at 31 July 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	9,400	12,533
		9,400	12,533
Current assets
Debtors		71,779	626
Cash at bank and in hand		52,560	101,048
		124,339	101,674
Creditors: amounts falling due within one year		(82,071)	(48,235)
Net current assets (liabilities)		42,268	53,439
Total assets less current liabilities		51,668	65,972
Total net assets (liabilities)		51,668	65,972
Capital and reserves
Called up share capital		3	3
Profit and loss account		51,665	65,969
Shareholders' funds		51,668	65,972

For the year ending 31 July 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 26 April 2017

And signed on their behalf by:
Mr M JENDRYCH, Director

LIPAX CONSTRUCTION LIMITED Registered Number 05872230

Notes to the Abbreviated Accounts for the period ended 31 July 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with
the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to
customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their
estimated useful lives.
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

Valuation information and policy
Stocks
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the
recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred
taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in
the periods when the timing differences will reverse.

2Tangible fixed assets

	£
Cost
At 1 August 2015	29,442
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2016	29,442
Depreciation
At 1 August 2015	16,909
Charge for the year	3,133
On disposals	-
At 31 July 2016	20,042
Net book values
At 31 July 2016	9,400
At 31 July 2015	12,533