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COMPANY REGISTRATION NUMBER: 02194608
LIFFORD HALL LIMITED
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2018
LIFFORD HALL LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION
31 March 2018
2018
2017
Note
£
£
£
£
Fixed assets
Tangible assets
5
259
305
Investments
6
130,577
130,577
------------
------------
130,836
130,882
Current assets
Debtors
35,000
35,000
Cash at bank and in hand
191,833
186,609
------------
------------
226,833
221,609
Creditors: amounts falling due within one year
1,387
455
------------
------------
Net current assets
225,446
221,154
------------
------------
Total assets less current liabilities
356,282
352,036
------------
------------
Capital and reserves
Called up share capital
50,000
50,000
Profit and loss account
306,282
302,036
------------
------------
Shareholder funds
356,282
352,036
------------
------------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2018 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 abridged 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.
LIFFORD HALL LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)
31 March 2018
These abridged financial statements were approved by the board of directors and authorised for issue on 10 October 2018 , and are signed on behalf of the board by:
P A Langard
Director
Company registration number: 02194608
LIFFORD HALL LIMITED
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2018
1. General Information
The company is a private company limited by shares, registered in England. The address of the registered office is Lifford Hall, Lifford Lane, Kings Norton, Birmingham, B30 3JN.
2. Statement of Compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
15% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities .
4. Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
2018
2017
£
£
Equity dividends on ordinary shares
1,550
2,100
------------
------------
5. Tangible Assets
£
Cost
At 1 April 2017 and 31 March 2018
2,825
------------
Depreciation
At 1 April 2017
2,520
Charge for the year
46
------------
At 31 March 2018
2,566
------------
Carrying amount
At 31 March 2018
259
------------
At 31 March 2017
305
------------
6. Investments
£
Cost
At 1 April 2017 and 31 March 2018
130,577
------------
Impairment
At 1 April 2017 and 31 March 2018
------------
Carrying amount
At 31 March 2018
130,577
------------
At 31 March 2017
130,577
------------
7. Related Party Transactions
The company was under the control of Mr PA Langard throughout the current and previous year. Mr PA Langard is the managing director and majority shareholder.