LOYALTY_CARD_LIMITED - Accounts

LOYALTY CARD LIMITED - Company Information

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Company Registration No. 07008259 (England and Wales)

LOYALTY CARD LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

LOYALTY CARD LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

LOYALTY CARD LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

10,000

12,500

Tangible assets

636

554

10,636

13,054

Current assets

Debtors

4,440

9,480

Cash at bank and in hand

18,169

4,024

22,609

13,504

Creditors: amounts falling due within one year

(63,224)

(62,680)

Net current liabilities

(40,615)

(49,176)

Total assets less current liabilities

(29,979)

(36,122)

Capital and reserves

Called up share capital

100

Profit and loss account

(30,079)

(36,222)

Shareholders' funds

(29,979)

(36,122)

For the financial year ended 30 September 2015 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 abbreviated 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 27 June 2016

Dr Matthew Wilson

Director

Company Registration No. 07008259

LOYALTY CARD LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

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

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 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:

Fixtures, fittings & equipment

25% Reducing balance

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 October 2014

25,000

1,350

26,350

Additions

454

At 30 September 2015

25,000

1,804

26,804

Depreciation

At 1 October 2014

12,500

796

13,296

Charge for the year

2,500

372

2,872

At 30 September 2015

15,000

1,168

16,168

Net book value

At 30 September 2015

10,000

636

10,636

At 30 September 2014

12,500

554

13,054

LOYALTY CARD LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

During the year the company bought services from a company controlled by the director Dr M Wilson, Propagation Limited. The value of the transactions amounted to £31,333.36 (2014- £50,127) and the balance owed at the end of the year was £0.

An outstanding amount of £58,226.39 (2014- £58,226.39) is owed to the company VAC Media Limited. This company is controlled by Dr C S Kumar, a share holder of Loyalty Card Limited.