Loyalty Logistix Limited - Abbreviated accounts 16.1
Loyalty Logistix Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016 |
| FOR |
| LOYALTY LOGISTIX LIMITED |
| LOYALTY LOGISTIX LIMITED (REGISTERED NUMBER: 04991455) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| Page |
| Company information | 1 |
| Abbreviated balance sheet | 2 |
| Notes to the abbreviated accounts | 4 |
| LOYALTY LOGISTIX LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| LOYALTY LOGISTIX LIMITED (REGISTERED NUMBER: 04991455) |
| ABBREVIATED BALANCE SHEET |
| 31 MARCH 2016 |
| 31.3.16 | 31.3.15 |
| as |
| restated |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| LOYALTY LOGISTIX LIMITED (REGISTERED NUMBER: 04991455) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 MARCH 2016 |
| 31.3.16 | 31.3.15 |
| as |
| restated |
| Notes | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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 financial statements were approved by the director on |
| LOYALTY LOGISTIX LIMITED (REGISTERED NUMBER: 04991455) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 1. | ACCOUNTING POLICIES |
| 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 January 2015). |
| Preparation of consolidated financial statements |
| The financial statements contain information about Loyalty Logistix Limited as an individual company |
| and do not contain consolidated financial information as the parent of a group. The company has taken |
| the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial |
| statements. |
| Turnover |
| Turnover represents amounts receivable for computer software design and consultancy net of V. A. T. |
| Intellectual property |
| Acquired intellectual property is written off in equal annual instalments over its estimated useful |
| economic life. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete |
| and slow moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
| the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
| exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
| the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
| Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held |
| under finance leases are depreciated over their estimated useful lives or the lease term, whichever is |
| the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant |
| period. The capital element of the future payments is treated as a liability. |
| LOYALTY LOGISTIX LIMITED (REGISTERED NUMBER: 04991455) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 1. | ACCOUNTING POLICIES - continued |
| Revenue recognition |
| Income represents revenue earned under a wide variety of contracts to provide professional services. |
| Revenue is recognised as earned when, and to the extent that, the firm obtains the right to |
| consideration in exchange for its performance under these contracts. It is measured at the fair value of |
| the right to consideration, which represents amounts chargeable to clients, including expenses and |
| disbursements but excluding value added tax. |
| Revenue is generally recognised as contract activity progresses so that for incomplete contracts it |
| reflects the partial performance of the contractual obligations. For such contracts the amount of |
| revenue reflects the accrual of the right to consideration by reference to the value of work performed. |
| Revenue not billed to clients is included in debtors and payments on account in excess of the relevant |
| amount of revenue are included in creditors. |
| Income that is contingent on events outside the control of the firm is recognised when the contingent |
| event occurs. |
| Investments |
| Fixed asset investments are stated at cost less provision for diminution in value. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| and 31 March 2016 |
| AMORTISATION |
| At 1 April 2015 |
| Amortisation for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| LOYALTY LOGISTIX LIMITED (REGISTERED NUMBER: 04991455) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| Additions |
| At 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 4. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 April 2015 |
| and 31 March 2016 | 15,207 |
| PROVISIONS |
| At 1 April 2015 |
| and 31 March 2016 | 15,125 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| LOYALTY LOGISTIX LIMITED (REGISTERED NUMBER: 04991455) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 4. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance sheet date in the share capital of companies include the |
| following: |
| Country of incorporation: Australia |
| Nature of business: |
| % |
| Class of shares: | holding |
| A | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 2,496 | (51,597 | ) |
| Profit for the year | 51,673 | 1,984 |
| 5. | CREDITORS |
| Creditors include an amount of £ |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.16 | 31.3.15 |
| value: | as restated |
| £ | £ |
| Ordinary | 1 |
| 7. | CONTROL |