Locheil Development Company Limited - Period Ending 2017-12-31

Registration number: 00922584

Locheil Development Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2017

Newsham Hanson Ltd
Chartered Certified Accountants
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP

Locheil Development Company Limited

Profit and Loss Account for the Year Ended 31 December 2017

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

The notes on pages 3 to 5 form an integral part of these financial statements.

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Locheil Development Company Limited

(Registration number: 00922584)
Balance Sheet as at 31 December 2017

	Note	2017 £	2016 £
Fixed assets
Investments	3	200	200
Creditors: Amounts falling due within one year	5	(304,038)	(304,038)
Net liabilities		(303,838)	(303,838)
Capital and reserves
Called up share capital	6	1,000	1,000
Profit and loss account		(304,838)	(304,838)
Total equity		(303,838)	(303,838)

For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 4 April 2018 and signed on its behalf by:
 

.........................................

R J Douglas

Director

The notes on pages 3 to 5 form an integral part of these financial statements.

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Locheil Development Company Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Chadwick House
6 Hallam Road
Clevedon
North Somerset
BS21 7SF

These financial statements were authorised for issue by the Board on 4 April 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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Locheil Development Company Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

Financial instruments

Classification
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11.
 Recognition and measurement
Basic financial instruments are recognised at amortised cost using the effective interest method.
 
 

3	Investments in subsidiaries, joint ventures and associates

	2017 £	2016 £
Investments in subsidiaries	200	200

Subsidiaries	£
Cost or valuation
At 1 January 2017	200
Provision
Carrying amount
At 31 December 2017	200
At 31 December 2016	200

4

Debtors

	2017 £	2016 £
Total current trade and other debtors	-	-

5

Creditors

	Note	2017 £	2016 £
Due within one year
Amounts due to related parties		284,163	284,163
Other payables		19,875	19,875
		304,038	304,038

6	Share capital

Allotted, called up and fully paid shares

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Locheil Development Company Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

	2017		2016
	No.	£	No.	£
Ordinary shares of £1 each	1,000	1,000	1,000	1,000

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