Low Pressure Developments Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09515198 (England and Wales)

Low Pressure Developments Limited

Unaudited Financial Statements for the Year Ended 31 March 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D D Seaton

REGISTERED OFFICE:

1A Parliament Square

Parliament Street

Crediton

Devon

EX17 2AW

REGISTERED NUMBER:

09515198 (England and Wales)

ACCOUNTANTS:

Haines Watts Exeter LLP

1A Parliament Square

Parliament Street

Crediton

Devon

EX17 2AW

FIXED ASSETS

Tangible assets

5

9,750

-

Investments

6

-

-

9,750

-

CURRENT ASSETS

Debtors

7

30,100

120,100

Cash at bank

115,905

-

146,005

120,100

CREDITORS

Amounts falling due within one year

8

(17,209

)

(38,564

)

NET CURRENT ASSETS

128,796

81,536

TOTAL ASSETS LESS CURRENT LIABILITIES

138,546

81,536

PROVISIONS FOR LIABILITIES

9

(1,950

)

-

NET ASSETS

136,596

81,536

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

136,496

81,436

SHAREHOLDERS' FUNDS

136,596

81,536

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director on 17 October 2017 and were signed by:

D D Seaton - Director

1.	STATUTORY INFORMATION

Low Pressure Developments 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 (£).

The significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in associates

Investments in associate undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and

loss account in other administrative expenses.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

5.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

Additions

13,000

At 31 March 2017

13,000

DEPRECIATION

Charge for year

3,250

At 31 March 2017

3,250

NET BOOK VALUE

At 31 March 2017

9,750

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

Additions

2

Disposals

(2

)

At 31 March 2017

-

NET BOOK VALUE

At 31 March 2017

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

and accrued income

30,000

120,000

Called up share capital not paid

100

100

30,100

120,100

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

1,937

Tax

11,815

20,359

Social security and other taxes

584

-

VAT

3,900

15,600

Directors' current accounts

2

-

Accrued expenses

908

668

17,209

38,564

9.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

1,950

-

Deferred

tax

£

Provided during year

1,950

Balance at 31 March 2017

1,950

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 April 2016

81,436

Profit for the year

55,060

At 31 March 2017

136,496

12.	FIRST YEAR ADOPTION

The company has transitioned To FRS 102 from previously being prepared under the historical cost

convention and in accordance with the Financial Reporting Standards for Smaller Entities (effective

from 1st January 2015) as at 01 January 2015.

There were no changes to accounting policies, or adjustments to comparative figures as a result of

transition to FRS102.