Living Leaves Limited - Abbreviated accounts

LIVING LEAVES LIMITED - Company Information

Registered number

06043035

Living Leaves Limited

Abbreviated Accounts

31 March 2016

Living Leaves Limited

Report to the director on the preparation of the unaudited abbreviated accounts of Living Leaves 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 abbreviated accounts of Living Leaves Limited for the year ended 31 March 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.

Dove Accountants, Tax & Business Advisors
Chartered Certified Accountants
Suite 2, The Wellington
78 High Street
Uttoxeter
Staffordshire
ST14 7JD

30 August 2016

Living Leaves Limited
Registered number:		06043035
Abbreviated Balance Sheet
as at 31 March 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		30,646			25,246

Current assets
Debtors		245,440			93,669
Cash at bank and in hand		331,785			70,259
		577,225			163,928

Creditors: amounts falling due within one year		(479,304)			(81,944)

Net current assets			97,921			81,984

Total assets less current liabilities			128,567			107,230

Creditors: amounts falling due after more than one year			(6,996)			(14,588)

Provisions for liabilities			(6,124)			(5,049)


Net assets			115,447			87,593

Capital and reserves
Called up share capital	4		2			2
Profit and loss account			115,445			87,591

Shareholder's funds			115,447			87,593

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



A J Anderson
Director
Approved by the board on 30 August 2016

Living Leaves Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2016

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Long-term contracts
	Long-term contracts are assessed on a contract-by-contract basis and reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Turnover is ascertained in a manner appropriate to the stage of completion of the contract. Where it is considered that the outcome of a long-term contract can be assessed with reasonable certainty before its conclusion, the prudently calculated attributable profit is recognised in the profit and loss account as the difference between the reported turnover and related costs for that contract. Long-term contracts are disclosed in the balance sheet as follows: (a) The amount by which recorded turnover is in excess of payments on account is classified as ‘amounts recoverable on contracts’ and separately disclosed within debtors. (b) The balance of payments on account (in excess of the amounts (i) matched with turnover and (ii) offset against long-term contract balances) are classified as payments on account and separately disclosed within creditors. (c) The amount of long-term contracts, at costs incurred, net of amounts transferred to cost of sales, after deducting foreseeable losses and payments on account not matched with turnover, are classified as ‘long-term contract balances’ and separately disclosed within the balance sheet heading ‘stocks’. The balance sheet note shall disclose separately the balances of: (i) net cost less foreseeable losses; and (ii) applicable payments on account. (d) The amount by which the provision or accrual for foreseeable losses exceeds the costs incurred (after transfers to cost of sales) is included within either ‘provisions for liabilities’ or ‘creditors’ as appropriate.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			20% straight line
	Fixtures, fittings and equipment			20% straight line
	Motor vehicles			25% reducing balance

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 April 2015					44,673
	Additions					15,477
	At 31 March 2016					60,150

	Depreciation
	At 1 April 2015					19,427
	Charge for the year					10,077
	At 31 March 2016					29,504

	Net book value
	At 31 March 2016					30,646
	At 31 March 2015					25,246


3	Loans					2016		2015
£							£
	Creditors include:
	Aggregate secured creditors					14,589		22,181


4	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		2		2		2