LANDSEEN_LIMITED - Accounts

LANDSEEN LIMITED - Company Information

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Company Registration No. 01286309 (England and Wales)

LANDSEEN LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2014

LANDSEEN LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

LANDSEEN LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

75,799

66,560

Investments

1,500

77,299

66,560

Current assets

Debtors

227,632

214,855

Cash at bank and in hand

485

527

228,117

215,382

Creditors: amounts falling due within one year

(157,920)

(154,539)

Net current assets

70,197

60,843

Total assets less current liabilities

147,496

127,403

Creditors: amounts falling due after more than one year

(39,413)

(29,290)

108,083

98,113

Capital and reserves

Called up share capital

100

Profit and loss account

107,983

98,013

Shareholders' funds

108,083

98,113

For the financial year ended 30 June 2014 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 of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 3 November 2014

A H Fuller Esq

Director

Company Registration No. 01286309

LANDSEEN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents commissions on property sales, and fees for property management, net of VAT.

Commissions are recognised on completion of sale of property, and management fees on collection of rent.

1.3

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 less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

Straight line over the life of the lease

Fixtures, fittings & equipment

25% Reducing balance and 33 1/3% Straight line

Motor vehicles

25% Straight line

1.4

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Investments

Fixed asset investments are stated at cost less provision for permanent diminution in value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

LANDSEEN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2014

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 July 2013

264,566

Additions

44,932

1,500

46,432

Disposals

(7,254)

At 30 June 2014

302,244

1,500

303,744

Depreciation

At 1 July 2013

198,006

On disposals

(5,441)

Charge for the year

33,880

At 30 June 2014

226,445

Net book value

At 30 June 2014

75,799

1,500

77,299

At 30 June 2013

66,560

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £34,880 (2013 - £67,206).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £39,413 (2013 - £29,290).

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

LANDSEEN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2014

- 4 -

Related party relationships and transactions

Loans to directors

The following directors had interest free loans during the year. The movement on these loans are as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

A H Fuller Esq - Director

77,936

12,599

90,535

77,936

12,599

90,535