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Abbreviated Accounts for the Year Ended 31 March 2016 |
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Leamar Homes Limited |
REGISTERED NUMBER:
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Abbreviated Accounts for the Year Ended 31 March 2016 |
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for |
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Leamar Homes Limited |
Leamar Homes Limited (Registered number: SC259414) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Leamar Homes Limited |
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Company Information |
for the Year Ended 31 March 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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BANKERS: |
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Leamar Homes Limited (Registered number: SC259414) |
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Abbreviated Balance Sheet |
31 March 2016 |
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2016 | 2015 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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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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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CREDITORS |
Amounts falling due after more than one year |
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PROVISIONS FOR LIABILITIES | ( |
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NET 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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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Leamar Homes Limited (Registered number: SC259414) |
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Abbreviated Balance Sheet - continued |
31 March 2016 |
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The financial statements were approved by the Board of Directors on
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Leamar Homes Limited (Registered number: SC259414) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
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1. | ACCOUNTING POLICIES |
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ACCOUNTING CONVENTION |
The financial statements have been prepared under the historical cost convention and in accordance with the Financial |
Reporting Standard for Smaller Entities (effective January 2015). |
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TURNOVER |
Turnover represents net invoiced sales of goods, excluding value added tax together with income from contracting and |
building works. Turnover from contracting and building works is recognised in accordance with the company's accounting |
policy on long-term contracts. |
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TANGIBLE FIXED ASSETS |
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Plant and machinery | - |
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Motor vehicles | - |
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STOCKS |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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DEFERRED TAX |
Deferred tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets |
and liabilities and their carrying amount in the balance sheet. It is provided using the tax rates that are expected to apply in |
the period when the asset or liability is settled, based on the tax rates that have been enacted or substantively enacted at the |
balance sheet date. |
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Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against which |
temporary differences can be utilised. |
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HIRE PURCHASE AND LEASING COMMITMENTS |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital |
element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the |
lease. |
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CONTRACT ACCOUNTING |
When the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the degree of |
completion of each contract. When the outcome cannot be estimated reliably, revenue is recognised to the extent of costs |
incurred where it is probable those costs will be recoverable. |
Leamar Homes Limited (Registered number: SC259414) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 April 2015 |
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Additions |
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Disposals | ( |
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At 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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4. | GOING CONCERN |
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The directors are aware that the company is technically insolvent, but believe the company will continue to trade as a going |
concern with their continued personal support. |