LEISURE_AND_STYLE_LTD - Accounts

LEISURE & STYLE LTD - Company Information

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Company Registration No. 03530422 (England and Wales)

LEISURE AND STYLE LTD

DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

LEISURE AND STYLE LTD

COMPANY INFORMATION

Director

Mr I H Gokmen

Company number

03530422

Registered office

No 12,

Bourchier Street

Apartment No 8

London

W1D 4HZ

LEISURE AND STYLE LTD

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2014

- 1 -

The director presents his report and financial statements for the year ended 31 December 2014.

Cessation Of Trading

Given that the company activities have ceased, plans have been put in place to strike off the company

from the register. The company has been dormant in the last three months and is no longer considered

to be a going concern. All revenue and expenses have been recognized and financial statements are

prepared on breakup basis

Director

The following director has held office since 1 January 2014:

Mr I H Gokmen

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

Mr I H Gokmen

Director

1 January 2015

LEISURE AND STYLE LTD

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

2014

2013

Notes

Turnover

369,021

Cost of sales

(323,309)

Gross (loss)/profit

45,712

Administrative expenses

(7,970)

(43,171)

(Loss)/profit on ordinary activities before taxation

(7,970)

2,541

Tax on (loss)/profit on ordinary activities

(810)

(Loss)/profit for the year

(7,970)

1,731

The profit and loss account has been prepared on the basis that all operations have ceased.

There are no recognised gains and losses other than those passing through the profit and loss account.

LEISURE AND STYLE LTD

BALANCE SHEET

AS AT

31 DECEMBER 2014

- 3 -

2014

2013

Notes

Fixed assets

Tangible assets

1,506

Current assets

Debtors

13,251

63,637

Cash at bank and in hand

6,078

13,251

69,715

Creditors: amounts falling due within one year

(810)

(50,810)

Net current assets

12,441

18,905

Total assets less current liabilities

12,441

20,411

Capital and reserves

Called up share capital

Profit and loss account

12,440

20,410

Shareholders' funds

12,441

20,411

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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

Approved by the Board and authorised for issue on 1 January 2015

Mr I H Gokmen

Director

Company Registration No. 03530422

LEISURE AND STYLE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 4 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

Basis Of Preparation

The company is no longer considered to be going concern, therefore financial statements have been

prepared on breakup basis.

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 other than freehold land 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 ..

1.5

Foreign currency translation

Transactions in foreign currencies are translated into sterling at the average monthly rate of exchange of the month the transaction occurred. Assets and liabilities in foreign currencies if any are translated into sterling at the rate prevailing at the balance sheet date. Exchange differences are taken into account at arriving at the operating profit.

Taxation

2014

2013

Domestic current year tax

U.K. corporation tax

810

Total current tax

810

Factors affecting the tax charge for the year

(Loss)/profit on ordinary activities before taxation

(7,970)

2,541

(Loss)/profit on ordinary activities before taxation multiplied by standard rate of UK corporation tax of 20.00% (2013 - 20.00%)

(1,594)

508

Current tax charge for the year

LEISURE AND STYLE LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 5 -

Tangible fixed assets

Land and buildings

Cost

At 1 January 2014 & at 31 December 2014

15,096

Depreciation

At 1 January 2014

Charge for the year

15,096

At 31 December 2014

15,096

Net book value

At 31 December 2014

At 31 December 2013

1,506

Debtors

2014

2013

Trade debtors

50,087

Other debtors

13,251

13,550

13,251

63,637

Creditors: amounts falling due within one year

2014

2013

Taxation and social security

810

Other creditors

810

50,000

810

50,810

Share capital

2014

2013

Allotted, called up and fully paid

LEISURE AND STYLE LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 6 -

Statement of movements on profit and loss account

Profit
and loss
account

Balance at 1 January 2014

20,410

Loss for the year

(7,970)

Balance at 31 December 2014

12,440

Reconciliation of movements in Shareholders' funds

2014

2013

(Loss)/Profit for the financial year

(7,970)

1,731

Opening Shareholders' funds

20,411

18,680

Closing Shareholders' funds

12,441

20,411

Ultimate Controlling Party

Matson international Ltd. (incorporated in British Virgin Islands) is regarded by the director as being the ultimate controlling company.