Leanvation Worldwide Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 08520866 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 8th May 2013 to 31st March 2014

for

Leanvation Worldwide Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Dr J Day

T A Downes

S R King

SECRETARY:

REGISTERED OFFICE:

St Helen's Chamber

Salisbury Street

Off Chalon Way

St Helens

Merseyside

WA10 1FY

REGISTERED NUMBER:

08520866 (England and Wales)

ACCOUNTANTS:

Bennett Brooks & Co Ltd

Chartered Accountants

2 Maple Court

Davenport Street

Macclesfield

Cheshire

SK101JE

CURRENT ASSETS

Stocks

41,615

Debtors

4,315

Cash at bank

288,203

334,133

CREDITORS

Amounts falling due within one year

102,707

NET CURRENT ASSETS

231,426

TOTAL ASSETS LESS CURRENT LIABILITIES

231,426

CREDITORS

Amounts falling due after more than one year

293,333

NET LIABILITIES

(61,907

)

CAPITAL AND RESERVES

Called up share capital

2

71,428

Share premium

78,572

Profit and loss account

(211,907

)

SHAREHOLDERS' FUNDS

(61,907

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21st July 2014 and were signed on its behalf by:

T A Downes - Director

J Day - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis which assumes that the company will

continue to trade for the foreseeable future, with the ongoing support of the company's bankers and directors.

The directors believe that the current and future sources of funding and support will be more than adequate for

the company's needs, and therefore it is appropriate for the financial statements to be prepared on a going

concern basis.

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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2,142,757

"A" Ordinary Shares

£0.01

21,428

5,000,000

Ordinary Shares

£0.01

50,000

71,428

5,000,000 Ordinary Shares shares of £0.01 each were allotted and fully paid for cash at par during the period.

2,142,757 "A" Ordinary Shares shares of £0.01 each were allotted as fully paid at a premium of £0.0366688 per

share during the period.

3.	PREFERENCE SHARES

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

275,000

8% Preference Shares

£1

275,000

275,000 8% Preference Shares of £1 each were allotted and fully paid for cash at par during the period

Subject to the Companies Acts, the Preference Shares shall be redeemed in the following amounts on the

following dates:

- on 30 June 2018, 25% of the Preference Shares in issue on that date,

- on 30 June 2019, 50% of the Preference Shares in issue on that date,

- on 30 June 2020, all Preference Shares in issue on that date.

The preference shares carry a redemption premium of 25%, payable on the above dates in respect of the shares

redeemed.

The preference shares carry cumulative dividend rights which accrue on a daily basis from date of issue. The first

payment will be made on the last to occur of 30 June 2016 or when the company has profits available for

distribution within the meaning of part 23 of the Companies Act 2006.