Learning For Good Ltd - Period Ending 2015-03-31

Registration number: 07795315

Learning For Good Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Green Accountancy Limited
Chartered Certified Accountants
Signal Court
Old Station Way
Eynsham
Oxford
OX29 4TL

Learning For Good Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Learning For Good Ltd
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Learning For Good Ltd for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Learning For Good Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Learning For Good Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Learning For Good Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Learning For Good Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Learning For Good Ltd. You consider that Learning For Good Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Learning For Good 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 accounts.

......................................

Green Accountancy Limited
Chartered Certified Accountants
Signal Court
Old Station Way
Eynsham
Oxford
OX29 4TL

4 November 2015

Page 1

Learning For Good Ltd
(Registration number: 07795315)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					7,000			8,000
Tangible fixed assets					2,405			2,189
Investments					1,500			1,500
					10,905			11,689
Current assets
Stocks					3,336			-
Debtors					8,446			16,619
Cash at bank and in hand					18,990			18,096
					30,772			34,715
Creditors: Amounts falling due within one year					(39,643)			(40,902)
Net current liabilities					(8,871)			(6,187)
Net assets					2,034			5,502
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					1,934			5,402
Shareholders' funds					2,034			5,502

For the year ending 31 March 2015 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

Approved by the director on 29 October 2015

.........................................
Ms R Nestor
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Learning For Good Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% straight line basis

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 3

Learning For Good Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 April 2014		10,000			3,588			1,500			15,088
Additions		-			1,649			-			1,649
Disposals		-			(482)			-			(482)
At 31 March 2015		10,000			4,755			1,500			16,255
Depreciation
At 1 April 2014		2,000			1,399			-			3,399
Charge for the year		1,000			1,189			-			2,189
Eliminated on disposals		-			(238)			-			(238)
At 31 March 2015		3,000			2,350			-			5,350
Net book value
At 31 March 2015		7,000			2,405			1,500			10,905
At 31 March 2014		8,000			2,189			1,500			11,689

Page 4

Learning For Good Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary A shares of £1 each		97			97			97			97
Ordinary B shares of £1 each		1			1			1			1
Ordinary C shares of £1 each		1			1			1			1
Ordinary D shares of £1 each		1			1			1			1
		100			100			100			100

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Ms R Nestor
Opening balance	21,207	-	21,227	-
Purchases paid privately	1,247	-	-	-
Money paid into company	216	-	-	-
Money withdrawn	(883)	-	(20)	-
	21,787	-	21,207	-

Page 5