A & D Lovett Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 09728514 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 12 AUGUST 2015 TO 31 AUGUST 2016

FOR

A & D LOVETT LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J Williams

Miss K A Summers

REGISTERED OFFICE:

Unit 1 Walkers Way

High Street

Wombourne

Staffordshire

WV5 9DP

REGISTERED NUMBER:

09728514 (England and Wales)

ACCOUNTANTS:

Brookes Stephens

New Media House

Davidson Road

Lichfield

Staffordshire

WS14 9DZ

Fixed assets

Investment property

4

71,509

Current assets

Debtors

180

Cash at bank

1,152

1,332

Creditors

Amounts falling due within one year

29,545

Net current liabilities

(28,213

)

Total assets less current liabilities

43,296

Creditors

Amounts falling due after more than one year

5

43,413

Net liabilities

(117

)

Capital and reserves

Called up share capital

100

Retained earnings

(217

)

Shareholders' funds

(117

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the period ended 31 August 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26 April 2017 and were signed on its behalf by:

Mrs J Williams - Director

Miss K A Summers - Director

1.	STATUTORY INFORMATION

A & D Lovett Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The directors have reviewed the credit facilities available to the company over the forthcoming 12 months and assessed

that they are sufficient to allow the company to continue to trade and meet its financial obligations as they fall due. In

addition, the directors will not require the company to repay the directors' loan balance until such time as funds allow.

Having taken these factors into account the directors have prepared the accounts on a going concern basis.

Investment property

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

value is recognised in profit or loss.

Deferred tax

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

financial position date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

71,509

At 31 August 2016

71,509

NET BOOK VALUE

At 31 August 2016

71,509

The property owned by the company, Unit 1 Walkers Way, High Street, Wombourne, WV5 9DP is held

as an investment property and is rented to a business owned by one of the directors.

The property was purchased for £70,630 in August 2015 and legal fees of £878 were incurred by the company. No

formal valuation of the property has been undertaken at the year end, however, the directors are of the opinion that the

property is held at a value in the accounts that represents its fair value.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

43,413

6.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

46,974

The bank loan is secured by way of a fixed and floating charge over all assets of the company.

7.	RELATED PARTY DISCLOSURES

At the year end the directors were owed £25,136. This loan is interest free and repayable on demand.