Lotce Holdings Limited - Limited company - abbreviated - 11.0.0

LOTCE HOLDINGS LIMITED

Abbreviated Unaudited Accounts

For The Year Ended 31st December 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

C P R Channing-Cotter

C R Shiret

REGISTERED OFFICE:

2 - 6 Cannon Street

London

EC4M 6YH

REGISTERED NUMBER:

07893502 (England and Wales)

ACCOUNTANTS:

Wilkins Kennedy LLP

Chartered Accountants

1 - 5 Nelson Street

Southend on Sea

Essex

SS1 1EG

FIXED ASSETS

Tangible assets

2

10,658

10,701

CURRENT ASSETS

Debtors

13,410

12,301

Cash at bank and in hand

4,832

97,130

18,242

109,431

CREDITORS

Amounts falling due within one year

(1,090,935

)

(549,248

)

NET CURRENT LIABILITIES

(1,072,693

)

(439,817

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,062,035

)

(429,116

)

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

(1,062,036

)

(429,117

)

SHAREHOLDERS' FUNDS

(1,062,035

)

(429,116

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2013 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 23rd September 2014 and were signed on its behalf by:

C R Shiret - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on the going concern basis as the directors have indicated that they are not

planning to call upon their loan positions to be repaid in the foreseeable future.

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).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st January 2013

14,025

Additions

2,175

At 31st December 2013

16,200

DEPRECIATION

At 1st January 2013

3,324

Charge for year

2,218

At 31st December 2013

5,542

NET BOOK VALUE

At 31st December 2013

10,658

At 31st December 2012

10,701

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

1

Ordinary

£1

1

1

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year amounts were advanced to the Company at various points by the directors. These advances

totalled £250,000 (2012: £250,000) for Mr C P R Channing-Cotter and £329,450 (2012: £250,000) for Mr C

Shiret.

The total amount outstanding to each director, as at the year end date, were: -

Mr C P R Channing Cotter - £500,000

Mr C Shiret - £579,450

5.

CREDITORS

Within creditors are amounts owing to the directors, introduced to the business by way of loans. As at the

balance sheet date these loans totalled £1,079,450 (2012: £500,000).