REGISTERED NUMBER:
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LILLIARD ASSOCIATES LTD |
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ABBREVIATED ACCOUNTS |
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FOR THE YEAR ENDED 31 MAY 2016 |
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REGISTERED NUMBER:
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LILLIARD ASSOCIATES LTD |
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ABBREVIATED ACCOUNTS |
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FOR THE YEAR ENDED 31 MAY 2016 |
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LILLIARD ASSOCIATES LTD (REGISTERED NUMBER: SC303657) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MAY 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 |
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Chartered Accountants' Report | 6 |
LILLIARD ASSOCIATES LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2016 |
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DIRECTOR: |
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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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LILLIARD ASSOCIATES LTD (REGISTERED NUMBER: SC303657) |
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ABBREVIATED BALANCE SHEET |
31 MAY 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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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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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her 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. |
LILLIARD ASSOCIATES LTD (REGISTERED NUMBER: SC303657) |
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ABBREVIATED BALANCE SHEET - continued |
31 MAY 2016 |
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The financial statements were approved by the director on
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LILLIARD ASSOCIATES LTD (REGISTERED NUMBER: SC303657) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MAY 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 services, excluding value added tax, attributable to the one principal |
activity of the company being that of I.T. and business consultancy. Income is recognised as the service is |
provided to clients. |
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Tangible fixed assets |
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Computer equipment | - |
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Deferred tax |
Deferred taxation is provided in full on timing differences which result in an obligation at the balance sheet date |
to pay more tax, or a right to pay less tax, at rates expected to apply when they reverse based on current tax rates |
and law. Timing differences arise from the inclusion of items of income and expenditure in taxation |
computations in periods different from those in which they are included in financial statements. Deferred tax |
assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred |
tax assets and liabilities are not discounted. |
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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 the profit and loss account in the period to which they relate. |
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Going concern |
The company has cash resources and has no requirement for external funding. The director has a reasonable |
expectation that the company has adequate resources to continue in operational existence for the foreseeable |
future. She continues to believe the going concern basis of accounting appropriate in preparing the annual |
financial statements. |
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2. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 June 2015 |
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Additions |
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At 31 May 2016 |
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DEPRECIATION |
At 1 June 2015 |
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Charge for year |
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At 31 May 2016 |
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NET BOOK VALUE |
At 31 May 2016 |
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At 31 May 2015 |
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LILLIARD ASSOCIATES LTD (REGISTERED NUMBER: SC303657) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
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3. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
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COST |
At 1 June 2015 |
and 31 May 2016 | 1 |
NET BOOK VALUE |
At 31 May 2016 |
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At 31 May 2015 |
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4. | 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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5. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 May 2016 and |
31 May 2015: |
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2016 | 2015 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid |
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( |
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Balance outstanding at end of year | ( |
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CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
LILLIARD ASSOCIATES LTD |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Lilliard Associates Ltd for the year ended 31 May 2016 which comprise the Profit and Loss |
Account, the Balance Sheet, and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
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This report is made solely to the director of Lilliard Associates Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lilliard Associates Ltd and state those matters that we have agreed to state to the director of Lilliard Associates Ltd in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
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It is your duty to ensure that Lilliard Associates Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lilliard Associates Ltd. You consider that Lilliard Associates Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Lilliard Associates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
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21 December 2016 |