LARANCA_ENGINEERING_LIMIT - Accounts

LARANCA ENGINEERING LIMITED - Company Information

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Company Registration No. 00902059 (England and Wales)

LARANCA ENGINEERING LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

LARANCA ENGINEERING LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

LARANCA ENGINEERING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

730,656

547,114

Current assets

Stocks

101,247

90,140

Debtors

805,021

400,664

Cash at bank and in hand

94,209

313,337

1,000,477

804,141

Creditors: amounts falling due within one year

(713,084)

(686,214)

Net current assets

287,393

117,927

Total assets less current liabilities

1,018,049

665,041

Creditors: amounts falling due after more than one year

(242,800)

(155,473)

Provisions for liabilities

(107,650)

(65,893)

667,599

443,675

Capital and reserves

Called up share capital

100

Profit and loss account

667,499

443,575

Shareholders' funds

667,599

443,675

LARANCA ENGINEERING LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2014

- 2 -

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 January 2015

Mr R A Shaw

Director

Company Registration No. 00902059

LARANCA ENGINEERING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

10% straight line

Fixtures, fittings and equipment

20% straight line

Motor vehicles

20% straight line

1.4

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

LARANCA ENGINEERING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 4 -

Fixed assets

Tangible assets

Cost

At 1 April 2013

1,036,409

Additions

323,919

Disposals

(224,222)

At 31 March 2014

1,136,106

Depreciation

At 1 April 2013

489,295

On disposals

(194,345)

Charge for the year

110,500

At 31 March 2014

405,450

Net book value

At 31 March 2014

730,656

At 31 March 2013

547,114

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £411,464 (2013 - £273,333).

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Transactions with directors

Included within other creditors is an amount of £124,381 (2013: £177,533) owed to Mr R A Shaw.