Company Registration No. 06390973 (England and Wales)
LG CONSULTING UK LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
LG CONSULTING UK LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
LG CONSULTING UK LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,125
1,123
Current assets
Debtors
15,840
7,920
Cash at bank and in hand
212,341
171,666
228,181
179,586
Creditors: amounts falling due within one year
(44,044)
(22,961)
Net current assets
184,137
156,625
Total assets less current liabilities
185,262
157,748
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
185,162
157,648
Shareholders' funds
185,262
157,748
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 August 2016
Mrs L Goforth
Director
Company Registration No. 06390973
LG CONSULTING UK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for services net of VAT .
.
1.4
Goodwill
Goodwill, being paid in connection with the acquisition of a business in 2007, has been fully amortised over its estimated useful life of five years.
has been fully
amortised over its
estimated useful life of five years.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
33% on cost
Fixtures, fittings & equipment
33% on cost
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
LG CONSULTING UK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
18,400
5,969
24,369
Additions
-
1,085
1,085
At 31 March 2016
18,400
7,054
25,454
Depreciation
At 1 April 2015
18,400
4,846
23,246
Charge for the year
-
1,083
1,083
At 31 March 2016
18,400
5,929
24,329
Net book value
At 31 March 2016
-
1,125
1,125
At 31 March 2015
-
1,123
1,123
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
Ultimate parent company
Mrs L Goforth, a director, controls the company by virtue of her controlling interest of 100% of the issued ordinary share captial.