Registered Number 01033409
LINCOMBE ESTATES LIMITED
Abbreviated Accounts
31 March 2014
Notes | 2014 | 2013 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
|
|
|
|||
Current assets | |||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
|
|
|
Total assets less current liabilities |
|
|
|
Total net assets (liabilities) |
|
|
|
Capital and reserves | |||
Called up share capital | 3 |
|
|
Revaluation reserve |
|
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets depreciation policy
All fixed assets are initially recorded at cost.
Depreciation
No depreciation is provided for in respect of freehold property.
Other accounting policies
The company's freehold property is included in the Balance Sheet at historical cost. This is not in accordance with the requirements of Statement of Standard Accounting Practice No 19 which requires such properties to be stated at their open market value.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
£ | |
---|---|
Cost | |
At 1 April 2013 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 March 2014 |
|
Depreciation | |
At 1 April 2013 |
|
Charge for the year |
|
On disposals |
|
At 31 March 2014 |
|
Net book values | |
At 31 March 2014 | 235,000 |
At 31 March 2013 | 235,000 |
All fixed assets are initially recorded at cost.