Landscape Management Services Limited - Period Ending 2016-07-31

Registration number: 03724679

Landscape Management Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

Bland & Wood
Chartered Accountants
6B Planet Business Centre
Planet Place, Killingworth
Newcastle upon Tyne
NE12 6DY

Landscape Management Services Limited
(Registration number: 03724679)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					124,874			73,289
Current assets
Stocks					249,928			265,014
Debtors					933,369			932,843
Cash at bank and in hand					16,881			45,405
					1,200,178			1,243,262
Creditors: Amounts falling due within one year					(899,413)			(894,717)
Net current assets					300,765			348,545
Total assets less current liabilities					425,639			421,834
Creditors: Amounts falling due after more than one year					(36,723)			-
Provisions for liabilities					(12,967)			(10,393)
Net assets					375,949			411,441
Capital and reserves
Called up share capital		4			100			100
Capital redemption reserve					3			3
Profit and loss account					375,846			411,338
Shareholders' funds					375,949			411,441

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 28 April 2017 and signed on its behalf by:

The notes on pages 3 to 5 form an integral part of these financial statements.
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Landscape Management Services Limited
(Registration number: 03724679)
Abbreviated Balance Sheet at 31 July 2016
......... continued

.........................................
Mr J C W Carmichael
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
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Landscape Management Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance basis
Motor vehicles	25% reducing balance basis
Office equipment	15% reducing balance basis

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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Landscape Management Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2015		280,186			280,186
Additions		95,779			95,779
Disposals		(41,284)			(41,284)
At 31 July 2016		334,681			334,681
Depreciation
At 1 August 2015		206,897			206,897
Charge for the year		30,273			30,273
Eliminated on disposals		(27,363)			(27,363)
At 31 July 2016		209,807			209,807
Net book value
At 31 July 2016		124,874			124,874
At 31 July 2015		73,289			73,289

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Landscape Management Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		23,588			2,368
Amounts falling due after more than one year		36,723			-
Total secured creditors		60,311			2,368

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

5	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr J C W Carmichael
Directors loan account	26,398	51,636	51,636	55,990

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