Lello & Monkey Limited - Period Ending 2016-03-31

Registration number: 08951184

Lello & Monkey Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

ES Accountancy Limited
6 Barnswick View
Cookridge
Leeds
West Yorkshire
LS16 7DP

Lello & Monkey Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

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 6) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Lello & Monkey Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lello & Monkey Limited for the year ended 31 March 2016 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 Lello & Monkey Limited, 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 Lello & Monkey 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 Lello & Monkey Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lello & Monkey 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 profit of Lello & Monkey Limited. You consider that Lello & Monkey Limited 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 Lello & Monkey 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.

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

ES Accountancy Limited
6 Barnswick View
Cookridge
Leeds
West Yorkshire
LS16 7DP

21 July 2016

Page 1

Lello & Monkey Limited
(Registration number: 08951184)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £			31 March 2015 £
Fixed assets
Intangible fixed assets					3,793			5,057
Tangible fixed assets					18,285			1,357
					22,078			6,414
Current assets
Stocks					17,363			9,474
Debtors					-			1,064
Cash at bank and in hand					19,624			24,897
					36,987			35,435
Creditors: Amounts falling due within one year					(9,524)			(10,222)
Net current assets					27,463			25,213
Total assets less current liabilities					49,541			31,627
Creditors: Amounts falling due after more than one year					(19,499)			(11,907)
Net assets					30,042			19,720
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					29,942			19,620
Shareholders' funds					30,042			19,720

For the year ending 31 March 2016 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 21 July 2016

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Lello & Monkey Limited
(Registration number: 08951184)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mrs Jill Heaton
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Lello & Monkey Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... 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).

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	Straight line over 5 years

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	Straight line over 4 years
Motor Vehicles	Straight line over 4 years

Stock

Stock 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.

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.

Page 4

Lello & Monkey Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		6,321			1,809			8,130
Additions		-			17,750			17,750
At 31 March 2016		6,321			19,559			25,880
Depreciation
At 1 April 2015		1,264			452			1,716
Charge for the year		1,264			822			2,086
At 31 March 2016		2,528			1,274			3,802
Net book value
At 31 March 2016		3,793			18,285			22,078
At 31 March 2015		5,057			1,357			6,414

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016						31 March 2015
		No.			£			No.			£
Ordinary A Shares of £1 each		60			60			60			60
Ordinary B Shares of £1 each		20			20			20			20
Ordinary C Shares of £1 each		20			20			20			20
		100			100			100			100

4	Related party transactions

Director's advances and credits

	Year ended 31 March 2016 Advance/ Credit £	Year ended 31 March 2016 Repaid £	20 March 2014 to 31 March 2015 Advance/ Credit £	20 March 2014 to 31 March 2015 Repaid £
Mrs Jill Heaton

Page 5

Lello & Monkey Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

The director has provided an interest free loan to the company.	19,499	-	11,907	-

Page 6