Larvic Limited

true directors Mr R Deb and Mrs S Deb true 1 September 2015 31 August 2016 31 August 2016 true false 03821544 true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03821544 2015-08-31 03821544 2016-08-31 03821544 2015-09-01 2016-08-31 03821544 uk-gaap:RestatedAmount 2015-08-31 03821544 uk-gaap:RestatedAmount 2016-08-31 03821544 uk-gaap:NetGoodwill 2015-08-31 03821544 uk-gaap:NetGoodwill 2016-08-31 03821544 uk-gaap:NetGoodwill 2015-09-01 2016-08-31 03821544 uk-gaap:OtherIntangibleFixedAssets 2015-09-01 2016-08-31 03821544 uk-gaap:IntangibleAssetsOtherThanGoodwill 2015-08-31 03821544 uk-gaap:IntangibleAssetsOtherThanGoodwill 2016-08-31 03821544 uk-gaap:IntangibleAssetsOtherThanGoodwill 2015-09-01 2016-08-31 03821544 uk-gaap:DevelopmentCosts 2015-08-31 03821544 uk-gaap:DevelopmentCosts 2016-08-31 03821544 uk-gaap:DevelopmentCosts 2015-09-01 2016-08-31 03821544 uk-gaap:LandBuildings uk-gaap:OwnedOrFreeholdTangibleFixedAssets 2015-08-31 03821544 uk-gaap:LandBuildings 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Registered number: 03821544

Larvic Limited

Abbreviated accounts

For The Year Ended 31 August 2016

Dhillon Accountants Limited

Chartered Certified Accountants

T/A A Dhillon & Co

61-63 Alexandra Road

Walsall

WS1 4DX

Larvic Limited

Company No. 03821544

Abbreviated Balance Sheet 31 August 2016

Abbreviated Balance Sheet

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	2		85,786		128,679
Tangible Assets	3		27,641		32,249

			113,427		160,928
CURRENT ASSETS
Stocks		78,532		75,550
Debtors		156,137		145,884
Cash at bank and in hand		266,737		133,893

		501,406		355,327
Creditors: Amounts Falling Due Within One Year		(306,289 )		(301,372 )

NET CURRENT ASSETS (LIABILITIES)			195,117		53,955

TOTAL ASSETS LESS CURRENT LIABILITIES			308,544		214,883

Creditors: Amounts Falling Due After More Than One Year	4		(149,744 )		(178,050 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,710 )		(4,039 )

NET ASSETS			155,090		32,794

CAPITAL AND RESERVES
Called up share capital	5		100		100
Other reserves			4,618		8,686
Profit and Loss Account			150,372		24,008

SHAREHOLDERS' FUNDS			155,090		32,794

Larvic Limited

Company No. 03821544

Abbreviated Balance Sheet (continued) 31 August 2016

For the year ending 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr Raminder Sidhu

24/03/2017

Page 1

Larvic Limited

Notes to the Abbreviated Accounts

For The Year Ended 31 August 2016

Notes to the Abbreviated Accounts

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over five years in accordance with new FRSSE 2015.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold
Leasehold
Fittings & Equipment	15% reducing balance
Motor Vehicles	25% reducing balance

1.5. Stocks and Work in Progress

Stock is valued at the lower of cost and net realisable value.

1.6. Deferred Taxation

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.

Deferred tax assets and liabilites are not discounted.

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Larvic Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 August 2016

2. Intangible Assets


	Total
Cost	£
As at 1 September 2015	506,097

As at 31 August 2016	506,097

Amortisation
As at 1 September 2015	377,418
Provided during the period	42,893

As at 31 August 2016	420,311

Net Book Value
As at 31 August 2016	85,786

As at 1 September 2015	128,679

3. Tangible Assets


	Total
Cost	£
As at 1 September 2015	100,237
Additions	1,650

As at 31 August 2016	101,887

Depreciation
As at 1 September 2015	67,988
Provided during the period	6,258

As at 31 August 2016	74,246

Net Book Value
As at 31 August 2016	27,641

As at 1 September 2015	32,249

Page 3

Larvic Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 August 2016

4. Creditors: Amounts Falling Due After More Than One Year

	2016	2015
	£	£
Bank loans	149,744	178,050

Bank loan is secured.

5. Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	100.000	1	100	100

6. Ultimate Controlling Party

The company's ultimate controlling party are the directors Mr R Deb and Mrs S Deb by virtue of their ownership of 100% of the issued share capital in the company.

Page 4