Lamkin Builders Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05884267 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2016

for

Lamkin Builders Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

C J Lamkin

SECRETARY:

V Bellingham

REGISTERED OFFICE:

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

REGISTERED NUMBER:

05884267 (England and Wales)

ACCOUNTANTS:

Philip T. Chave & Co

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Intangible assets

2

11,375

14,875

Tangible assets

3

9,897

12,241

21,272

27,116

CURRENT ASSETS

Stocks

4,500

9,000

Debtors

5,203

7,765

Cash at bank

468

153

10,171

16,918

CREDITORS

Amounts falling due within one year

4

26,617

38,683

NET CURRENT LIABILITIES

(16,446

)

(21,765

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,826

5,351

CREDITORS

Amounts falling due after more than one
year

2,920

4,999

NET ASSETS

1,906

352

CAPITAL AND RESERVES

Called up share capital

5

1

Profit and loss account

1,905

351

SHAREHOLDERS' FUNDS

1,906

352

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 26 April 2017 and were signed by:

C J Lamkin - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

35,000

AMORTISATION

At 1 August 2015

20,125

Amortisation for year

3,500

At 31 July 2016

23,625

NET BOOK VALUE

At 31 July 2016

11,375

At 31 July 2015

14,875

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

38,206

Additions

640

At 31 July 2016

38,846

DEPRECIATION

At 1 August 2015

25,965

Charge for year

2,984

At 31 July 2016

28,949

NET BOOK VALUE

At 31 July 2016

9,897

At 31 July 2015

12,241

4.

CREDITORS

Creditors include an amount of £ 8,509 (31.7.15 - £ 6,312 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

1

Ordinary

£1

1

6.	RELATED PARTY DISCLOSURES

C J Lamkin

31.7.16

31.7.15

£

Amount due to related party at the balance sheet date

-

5,157

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C J Lamkin.