Company Registration No. 05037418 (England and Wales)
LAMBDA PROJECTS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
LAMBDA PROJECTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
LAMBDA PROJECTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
893
1,190
Current assets
Debtors
70,268
63,364
70,268
63,364
Creditors: amounts falling due within one year
(45,311)
(32,428)
Net current assets
24,957
30,936
Total assets less current liabilities
25,850
32,126
Creditors: amounts falling due after more than one year
(10,034)
(12,621)
15,816
19,505
Capital and reserves
Called up share capital
3
10
10
Profit and loss account
15,806
19,495
Shareholders' funds
15,816
19,505
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 30 December 2016
Mr S S Dedhar
Director
Company Registration No. 05037418
LAMBDA PROJECTS 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 goods and services net of VAT and trade discounts.
1.4
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
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
19,550
Depreciation
At 1 April 2015
18,360
Charge for the year
297
At 31 March 2016
18,657
Net book value
At 31 March 2016
893
At 31 March 2015
1,190
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
10 Ordinary Shares of £1 each
10
10
LAMBDA PROJECTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
4
Transactions with directors
The following director had a loan from the company at an interest rate of 4% per annum, with no fixed terms of repayment. The movement on the loan during the year was as follows:
Amount outstanding
Maximum
2016
2015
in year
£
£
£
Director's current account
36,385
36,391
36,391