Laganside Business Services Limited Company Accounts
Laganside Business Services Limited Company Accounts
COMPANY REGISTRATION NUMBER:
NI040753
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Company Limited by Guarantee |
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Company Limited by Guarantee |
Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Statement of financial position |
1 |
Notes to the financial statements |
3 |
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Company Limited by Guarantee |
Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
6 |
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Current assets
Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves
Other reserves |
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Profit and loss account |
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Company Limited by Guarantee |
Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
19 December 2017
, and are signed on behalf of the board by:
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Director |
Company registration number:
NI040753
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Company Limited by Guarantee |
Notes to the Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is Suite 3, 1st Floor, Laganview Enterprise Centre, Drumbeg Drive, Lisburn, BT28 1NY.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment |
- |
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Impairment of fixed assets
Financial instruments
4.
Company limited by guarantee
The company is limited by guarantee and has no authorised or issued share capital.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2016:
4
).
6.
Tangible assets
Equipment |
Total |
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£ |
£ |
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Cost |
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At 1 April 2016 and 31 March 2017 |
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Depreciation |
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At 1 April 2016 |
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Charge for the year |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
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At 31 March 2016 |
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7.
Debtors
2017 |
2016 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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8.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Corporation tax |
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Other creditors |
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9.
Related party transactions
The Resurgam Community Development Trust is the beneficial owner of the company although the ultimate rights to any distribution through the company are limited by guarantee. The company paid a total of £20,000 in respect of the financial year to the Resurgam Community Development Trust. At market value, goods and services were sold during the year to Resurgam Community Development Trust to the extent of £14,160. The outstanding balances relating to these transactions at the year end have been outlined in note 9.
10.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2015.
No transitional adjustments were required in equity or profit or loss for the period.