Abbreviated Company Accounts - LONDON & GLOBE CORPORATION LIMITED

Abbreviated Company Accounts - LONDON & GLOBE CORPORATION LIMITED

LONDON & GLOBE CORPORATION LIMITED - Company Information

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Registered Number 02003984

LONDON & GLOBE CORPORATION LIMITED

Abbreviated Accounts

31 March 2014

LONDON & GLOBE CORPORATION LIMITED Registered Number 02003984

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 12,000 12,000
Investments 3 4,800 3,950
16,800 15,950
Current assets
Cash at bank and in hand 1,452 77
1,452 77
Creditors: amounts falling due within one year (13,800) (14,800)
Net current assets (liabilities) (12,348) (14,723)
Total assets less current liabilities 4,452 1,227
Total net assets (liabilities) 4,452 1,227
Capital and reserves
Called up share capital 600 600
Share premium account 2,520 2,520
Profit and loss account 1,332 (1,893)
Shareholders' funds 4,452 1,227
  • For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • 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 by the Board on 31 December 2014

And signed on their behalf by:
J.A. Hoskinson, Director

LONDON & GLOBE CORPORATION LIMITED Registered Number 02003984

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents revenue recognised by the Company in respect of goods and services supplied during the period.

Tangible assets depreciation policy
Depreciation is provided after taking account of any grants receivable at the following annual rates in order to write off each asset over its estimated useful life. Freehold buildings – 0% on cost or revalued amounts, Plant and Machinery – 25% on nbv, Fixtures and Fittings – 25% on nbv, Motor Vehicles – 25% on nbv.

Intangible assets amortisation policy
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their useful economic lives not exceeding 20 years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Valuation information and policy
Stocks and work-in-progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

2Tangible fixed assets
£
Cost
At 1 April 2013 12,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2014 12,000
Depreciation
At 1 April 2013 -
Charge for the year -
On disposals -
At 31 March 2014 -
Net book values
At 31 March 2014 12,000
At 31 March 2013 12,000

3Fixed assets Investments
Listed investments