Landy Partners Limited - Period Ending 2015-11-30

Registration number: 08718203

Landy Partners Limited

Unaudited Abbreviated Accounts

for the Period from 1 April 2015 to 30 November 2015

 

Wisteria Limited
The Grange Barn
Pikes End
Pinner
London
HA5 2EX

Landy Partners Limited
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 Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Landy Partners Limited
for the Period Ended 30 November 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Landy Partners Limited for the period ended 30 November 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Landy Partners Limited, as a body, in accordance with the terms of our engagement letterdated 15 April 2014. Our work has been undertaken solely to prepare for your approval the accounts of Landy Partners Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Landy Partners Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Landy Partners Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Landy Partners Limited. You consider that Landy Partners Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Landy Partners Limited. 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.

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

Wisteria Limited
The Grange Barn
Pikes End
Pinner
London
HA5 2EX

14 June 2016

Page 1

Landy Partners Limited
(Registration number: 08718203)
Abbreviated Balance Sheet at 30 November 2015

		Note			30 November 2015 £			31 March 2015 £
Fixed assets
Tangible fixed assets					9,813			1,566
Current assets
Debtors					56,587			26,621
Cash at bank and in hand					87,968			23,517
					144,555			50,138
Creditors: Amounts falling due within one year					(98,822)			(75,550)
Net current assets/(liabilities)					45,733			(25,412)
Net assets/(liabilities)					55,546			(23,846)
Capital and reserves
Called up share capital		3			111			100
Share premium account					99,989			-
Profit and loss account					(44,554)			(23,946)
Shareholders' funds/(deficit)					55,546			(23,846)

For the year ending 30 November 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 his 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 14 June 2016

.........................................
Mr Benjamin Moute
Director

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

Landy Partners Limited
Notes to the Abbreviated Accounts for the Period from 1 April 2015 to 30 November 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 January 2015).

Going concern

The financial statements have been prepared on a going concern basis.Whilst the company traded at a loss for the period, the director having reviewed the position of the company believes that sufficient funds exist to support the normal trading operations for at least 12 months from the date of signing the financial statements.

In addition the director has confirmed that for a period of at least 12 months from signing the financial statements the existing support will not be withdrawn and he will not seek repayments of the amounts due to him if this will leave the company unable to meet its other financial committments.

The director has therefore concluded that it is appropriate to prepare the finanical statements on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Office equipment	25% straight line
Fixtures and fittings	25% straight line

Deferred tax

Where material, full provision is made for deferred tax asset and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation. A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences an be deducted. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Page 3

Landy Partners Limited
Notes to the Abbreviated Accounts for the Period from 1 April 2015 to 30 November 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		1,998			1,998
Additions		9,348			9,348
At 30 November 2015		11,346			11,346
Depreciation
At 1 April 2015		432			432
Charge for the period		1,101			1,101
At 30 November 2015		1,533			1,533
Net book value
At 30 November 2015		9,813			9,813
At 31 March 2015		1,566			1,566

3	Share capital

Allotted, called up and fully paid shares

	30 November 2015						31 March 2015
		No.			£			No.			£
Ordinary A shares of £0.01 (2015 - £1) each		10,000			100			100			100
Ordinary B shares of £0.01 (2015 - £0.00) each		1,111			11			-			-
		11,111			111			100			100

New shares allotted

During the period 11,112 B Ordinary shares with a nominal value of £0.001 per share were issued. The consideration received was £100,000 .     During the period 100 ordinary shares were subdivided into 100,000 ordinary shares with a nominal value of £0.001 per share. The ordinary shares were redesignated as A ordinary shares.

Page 4

Landy Partners Limited
Notes to the Abbreviated Accounts for the Period from 1 April 2015 to 30 November 2015
......... continued

4	Related party transactions

Included in creditors at the balance sheet date is an amount owed to the director of £62,822 (2014: £56,365) in respect of a loan and expenses incurred on behalf of the company. This balance is interest free and is repayable on demand.

Page 5