LANIAKEA_ESTATES_LTD - Accounts

LANIAKEA ESTATES LTD - Company Information

Print Friendly Version

Company Registration No. 09301638 (England and Wales)

LANIAKEA ESTATES LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

LANIAKEA ESTATES LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

LANIAKEA ESTATES LTD

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

377,116

Current assets

Debtors

41,381

Cash at bank and in hand

4,369

28,418

45,750

28,418

Creditors: amounts falling due within one year

(206,335)

(208,474)

Net current liabilities

(160,585)

(180,056)

Total assets less current liabilities

216,531

197,060

Creditors: amounts falling due after more than one year

(179,000)

37,531

18,060

Capital and reserves

Called up share capital

Profit and loss account

37,530

18,059

Shareholders' funds

37,531

18,060

For the financial year ended 30 November 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 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 29 August 2017

Mr K Ahmed

Director

Company Registration No. 09301638

LANIAKEA ESTATES LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 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 January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified

1.5

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 created 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.

Fixed assets

Tangible assets

Cost

At 1 December 2015 & at 30 November 2016

377,116

At 30 November 2015

377,116

LANIAKEA ESTATES LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

1 Ordinary of £1 each