Registered Number 06452874
LEVY GEMS LIMITED
Abbreviated Accounts
31 March 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Stocks |
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Debtors | 4 |
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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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Net current assets (liabilities) |
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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 | 5 |
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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 and fittings - 25% straight line method
Computer equipment - 33.33% straight line method
Intangible assets amortisation policy
£ | |
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Cost | |
At 1 April 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2015 |
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Amortisation | |
At 1 April 2014 |
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Charge for the year |
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On disposals |
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At 31 March 2015 |
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Net book values | |
At 31 March 2015 | 30,000 |
At 31 March 2014 | 40,000 |
£ | |
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Cost | |
At 1 April 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2015 |
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Depreciation | |
At 1 April 2014 |
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Charge for the year |
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On disposals |
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At 31 March 2015 |
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Net book values | |
At 31 March 2015 | 814 |
At 31 March 2014 | 26 |
2015
£ |
2014
£ |
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Debtors include the following amounts due after more than one year |
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6 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 April 2014: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 31 March 2015: | £ |
D Levy
2015: 39,000
2014: 111,438
The year the company had an outstanding loan account with the director, D Levy. During the year drawings totalling £138,736 (2014: £129,095) were made and repayments totalling £54,377 (2014: 134,688) were made. Interest of £2,406 (2014: £1,217) was charged to the loan account at a rate of 3.25%. At the year end, the director owed the company £115,605 (2014: 28,840). This loan was fully repaid within 9 months of the year end.
During the year, the company declared a dividend of £NIL (2014: £30,562) to a shareholder, F Levy who is the wife of the director D Levy. At the year end, the company owed F Levy £NIL (2014: £NIL).
-Other Transactions-
The company entered into loan agreement with High Town Property Limited, a company which D Levy is a director and shareholder. During the year, Levy Gems Limited lent £NIL (2014: £120,000) to High Town Property Limited. Repayments totalled £NIL (2014: £NIL). At the year end, High Town Property Limited owed the company £120,000 (2014: £120,000).