Line Wall Corporation Ltd - Period Ending 2014-03-31

Registration number: 06698812

Line Wall Corporation Ltd

Annual Report and Unaudited Abbreviated Accounts


for the Year Ended 31 March 2014
 

Line Wall Corporation Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Line Wall Corporation Ltd
(Registration number: 06698812)
Abbreviated Balance Sheet at 31 March 2014

		Note			31 March 2014 £			31 March 2013 £
Fixed assets
Investments					2,320,131			8,101,237
Current assets
Debtors					5,781,106			-
Net assets					8,101,237			8,101,237
Capital and reserves
Called up share capital		3			100			100
Share premium account					8,101,137			8,101,137
Shareholders' funds					8,101,237			8,101,237

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.

For the year ending 31 March 2014 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

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 29 January 2015 and signed on its behalf by:

.........................................
Mr M F Keegan
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Line Wall Corporation Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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 creates 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.

2	Fixed assets

		Investments £			Total £
Cost
At 1 April 2013		8,101,237			8,101,237
Disposals		(5,781,106)			(5,781,106)
At 31 March 2014		2,320,131			2,320,131
Depreciation
At 31 March 2014		-			-
Net book value
At 31 March 2014		2,320,131			2,320,131
At 31 March 2013		8,101,237			8,101,237

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Page 2

Line Wall Corporation Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Ashton Investments & Real Estate Ltd	England and Wales	Ordinary	100%	Management of investments

The profit for the financial period of Ashton Investments & Real Estate Ltd was £85,079 and the aggregate amount of capital and reserves at the end of the period was £1,370,863.

During the year the Company disposed of it's entire investment in Ashton Agricultural & General Limited at net book value.

3	Share capital

Allotted, called up and fully paid shares

	31 March 2014						31 March 2013
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

4

Control

The company is controlled by Line Corporation Limited. The ultimate controlling party is Mr T P Keegan, Mrs V J Davies, Mrs K M Gray, Mr R E F Keegan and Mrs A J Keegan.

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