Loucas_Limited - Accounts

Loucas Limited

Contents

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

Loucas Limited

Abbreviated Balance Sheet

As At 31 March 2015

Page 1

2015

2014

Notes

£

Fixed assets

Intangible assets

2

119,455

115,855

Tangible assets

2

903,804

903,346

1,023,259

1,019,201

Current assets

Stocks

28,000

Debtors

244,847

235,143

Cash at bank and in hand

687,996

457,791

960,843

720,934

Creditors: amounts falling due within one year

3

(874,479)

(460,993)

Net current assets

86,364

259,941

Total assets less current liabilities

1,109,623

1,279,142

Creditors: amounts falling due after more than one year

4

(371,866)

(398,953)

737,757

880,189

Capital and reserves

Called up share capital

5

1,000

Profit and loss account

736,757

879,189

Shareholders' funds

737,757

880,189

Loucas Limited

Abbreviated Balance Sheet (Continued)

As At 31 March 2015

Page 2

For the financial year ended 31 March 2015 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 14 December 2015

Mr A Louca FCCA, ICPAC

Director

Company Registration No. 02904941

Loucas Limited

Notes To The Abbreviated Accounts

For The Year Ended 31 March 2015

Page 3

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 April 2008).

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.

Turnover is recognised when goods are physically delivered to the customer and the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided to the date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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, as follows:

Land and buildings Freehold

NIL

Fixtures, fittings & equipment

25% straight line

Loucas Limited

Notes To The Abbreviated Accounts (Continued)

For The Year Ended 31 March 2015

Page 4

2

Fixed assets

Intangible assets

Tangible assets

Total

£

Cost

At 1 April 2014

115,855

1,037,989

1,153,844

Additions

3,600

4,607

8,207

At 31 March 2015

119,455

1,042,596

1,162,051

Depreciation

At 1 April 2014 & at 31 March 2015

-

138,792

Net book value

At 31 March 2015

119,455

903,804

1,023,259

At 31 March 2014

115,855

903,346

1,019,201

3

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £42,921 (2014 - £64,825).

4

Creditors: amounts falling due after more than one year

2015

2014

£

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

-

74,628

The aggregate amount of creditors for which security has been given amounted to £371,866 (2014 - £398,953).

5

Share capital

2015

2014

£

Allotted, called up and fully paid

1,000 Ordinary shares of £1 each

1,000