HOLO LILO LIMITED

HOLO LILO LIMITED

HOLO LILO LIMITED - Company Information

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HOLO LILO LIMITED

Company Registration Number:
07245896 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2019

Period of accounts

Start date: 01 June 2018

End date: 31 May 2019

HOLO LILO LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2019

Balance sheet
Notes

HOLO LILO LIMITED

Balance sheet

As at 31 May 2019


Notes
2019
2018


£
£
Fixed assets
Intangible assets: 3 4,365 2,602
Total fixed assets: 4,365 2,602
Current assets
Stocks: 2,000 1,500
Debtors: 4 0 15,253
Cash at bank and in hand: 29,184 19,153
Total current assets: 31,184 35,906
Creditors: amounts falling due within one year: 5 (3,362) (4,381)
Net current assets (liabilities): 27,822 31,525
Total assets less current liabilities: 32,187 34,127
Creditors: amounts falling due after more than one year: 6 (4,451) (6,401)
Total net assets (liabilities): 27,736 27,726
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 27,735 27,725
Shareholders funds: 27,736 27,726

The notes form part of these financial statements

HOLO LILO LIMITED

Balance sheet statements

For the year ending 31 May 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 December 2019
and signed on behalf of the board by:

Name: MISS E L BENSON
Status: Director

The notes form part of these financial statements

HOLO LILO LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Computer equipment - 33% on cost

Intangible fixed assets and amortisation policy

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Patents and licences - The cost of patents and licences is being amortised equally over 10 years from the date of acquisition.

Valuation and information policy

Stocks - Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HOLO LILO LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2019

2. Employees

2019 2018
Average number of employees during the period 1 1

HOLO LILO LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2019

3. Intangible Assets

Total
Cost £
At 01 June 2018 4,508
Additions 2,460
At 31 May 2019 6,968
Amortisation
At 01 June 2018 1,906
Charge for year 697
At 31 May 2019 2,603
Net book value
At 31 May 2019 4,365
At 31 May 2018 2,602

HOLO LILO LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2019

4. Debtors

2019 2018
££
Debtors due after more than one year: 0 15,253

HOLO LILO LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2019

5. Creditors: amounts falling due within one year note

Tax - £2,367 (2018 - £3,421)Accrued Expenses - £995 (2018 - £960)

HOLO LILO LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2019

6. Creditors: amounts falling due after more than one year note

Director's loan account £4,451 (2018 - £6,401)

HOLO LILO LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2019

7. Related party transactions

Name of the related party: Miss E L Benson
Relationship:
Director
Description of the Transaction: The Director, Miss E L Benson holds 100% of the share capital and received 100% of the dividends. The transaction is the loan of capital.
£
Balance at 01 June 2018 6,401
Balance at 31 May 2019 4,451