Lains Shooting School Ltd
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For the year ended 30 April 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 06869186
Lains Shooting School Ltd
For the year ended 30 April 2015
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
Abbreviated Balance Sheet
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Lains Shooting School Ltd
2015
2014
2
28,860
46,519
28,860
46,519
9,500
7,000
3
53,307
9,930
64,865
32,031
81,795
94,838
Creditors
:
amounts falling due within one year
|
(23,485)
(16,626)
71,353
65,169
Net current assets
Total assets less current liabilities
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94,029
117,872
(945)
(7,109)
Provisions for liabilities
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93,084
Net assets
110,763
10
4
10
93,074
110,753
93,084
110,763
Shareholders funds
For the year ended 30 April 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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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 and(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.
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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Date approved by the board: 23 January 2016
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Signed on behalf of the board of directors
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1 of 3
Notes to the Abbreviated Financial Statements
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For the year ended 30 April 2015
Lains Shooting School Ltd
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008)).
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
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Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
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by the shareholders prior to the balance sheet date
.
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Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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Plant and Machinery
Motor Vehicles
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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2 of 3
Notes to the Abbreviated Financial Statements
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For the year ended 30 April 2015
Lains Shooting School Ltd
124,042
20,655
(25,278)
119,419
77,523
(2,107)
15,143
Charge for year
90,559
28,860
46,519
The overdrawn director's loan account has been repaid since the year-end.
Allotted called up and fully paid
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2015
2014
10
Class A shares of £
1
.
00
each
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10
10
10
10
3 of 3