Registered Number 05645153
LANGBOURNE SERVICES LIMITED
Abbreviated Accounts
31 December 2014
Notes | 2014 | 2013 | |
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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 | 3 |
( |
( |
Net current assets (liabilities) |
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( |
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Total assets less current liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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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
Fixtures & fittings - 25% reducing balance basis per annum
Office equipment - 25% reducing balance basis per annum
Other accounting policies
All fixed assets are initially recorded at cost.
Operating Lease Agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Going Concern
The company is dependent on the continued support of its directors, in its ability to continue as a going concern. The directors have provided the company with loans without formal repayment terms. On this basis the directors consider that it is appropriate for the financial statements to be prepared on a going concern basis.
£ | |
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Cost | |
At 1 January 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 December 2014 |
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Depreciation | |
At 1 January 2014 |
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Charge for the year |
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On disposals |
( |
At 31 December 2014 |
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Net book values | |
At 31 December 2014 | 9,307 |
At 31 December 2013 | 3,167 |
2014
£ |
2013
£ |
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Secured Debts |
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5 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 January 2014: | £ |
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Advances or credits made: |
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Advances or credits repaid: | £ |
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Balance at 31 December 2014: | £ |
During the year the company received services from Langbourne Management Limited, a company in which D L McGregor is a shareholder and director, to the value of £66,325 (2013 - £166,338). This transaction was carried out on an arms' length basis. At the balance sheet date Langbourne Management Limited owed the company £5,974 (2013 - At the balance sheet date the company owed Langbourne Management Limited £23,602 in respect of a purchase ledger balance) in respect of a purchase ledger balance