REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 June 2016 |
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for |
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L&F Commercial Parts Specialists Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 June 2016 |
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for |
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L&F Commercial Parts Specialists Limited |
L&F Commercial Parts Specialists Limited (Registered number: 03029286) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2016 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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L&F Commercial Parts Specialists Limited |
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Company Information |
for the Year Ended 30 June 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 |
Suite 1 |
Liberty House |
South Liberty Lane |
Bristol |
BS3 2ST |
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BANKERS: |
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Westbury on Trym Branch |
15 High Street |
Westbury on Trym |
Bristol |
BS9 3DA |
L&F Commercial Parts Specialists Limited (Registered number: 03029286) |
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Statement of Financial Position |
30 June 2016 |
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30.6.16 | 30.6.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
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CURRENT ASSETS |
Inventories |
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Debtors: amounts falling due within one
year |
5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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L&F Commercial Parts Specialists Limited (Registered number: 03029286) |
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Statement of Financial Position - continued |
30 June 2016 |
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30.6.16 | 30.6.15 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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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 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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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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L&F Commercial Parts Specialists Limited (Registered number: 03029286) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2016 |
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1. | STATUTORY INFORMATION |
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L&F Commercial Parts Specialists Limited is a
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England and Wales. The company's registered number and registered office address can be found on |
the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for |
goods and services provided during the year. All transactions arose in the United Kingdom. |
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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 |
Inventories 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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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the statement of financial position date. |
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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 profit or loss 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 profit or loss on a straight line basis over the period |
of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
L&F Commercial Parts Specialists Limited (Registered number: 03029286) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2016 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 July 2015 |
and 30 June 2016 |
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DEPRECIATION |
At 1 July 2015 |
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Charge for year |
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At 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are |
as follows: |
Motor |
vehicles |
£ |
COST |
At 1 July 2015 |
and 30 June 2016 |
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DEPRECIATION |
At 1 July 2015 |
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Charge for year |
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At 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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L&F Commercial Parts Specialists Limited (Registered number: 03029286) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.16 | 30.6.15 |
£ | £ |
Trade debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.16 | 30.6.15 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | RELATED PARTY DISCLOSURES |
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During the year the company entered into the following transactions with the directors: |
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D Ford |
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2016 | 2015 |
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Dividends paid | 39,000 | 43,000 |
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Capital introduced | 283 | 232 |
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At the year end the amount due to the director was £582 (2015 - £299). |
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M Leach |
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2016 | 2015 |
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Dividends paid | 39,000 | 43,000 |
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Capital introduced | 5,654 | 4,570 |
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At the year end the amount due to the director was £11,713 (2015 - £6,059). |
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8. | ULTIMATE CONTROLLING PARTY |
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The company is jointly controlled by Mr D Ford and Mr M Leach. |