Registered Number 04361832
LAURUS ASSOCIATES LIMITED
Abbreviated Accounts
31 May 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Computer Equipment - 33.33% on cost
Fixtures, Fittings and Equipment - 20% reducing balance
Motor Vehicles - 25% reducing balance
Other accounting policies
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charges represent contributions payable by the company to the fund.
Contributions in respect of the scheme are charged to the profit and loss account for the year in which they are payable to the scheme.
Deferred Taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.
Leased Assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
£ | |
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Cost | |
At 1 June 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 May 2015 |
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Depreciation | |
At 1 June 2014 |
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Charge for the year |
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On disposals |
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At 31 May 2015 |
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Net book values | |
At 31 May 2015 | 35,223 |
At 31 May 2014 | 17,964 |
4 Transactions with directors
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 June 2014: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 31 May 2015: | £ |
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 June 2014: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 31 May 2015: | £ |