Economic Lifestyle Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05091986 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

ECONOMIC LIFESTYLE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R O W Neal

J Neal

M A Neal

S Neal

D Sinclair

SECRETARY:

D Sinclair

REGISTERED OFFICE:

Columbia House

Columbia Drive

Worthing

West Sussex

BN13 3HD

REGISTERED NUMBER:

05091986 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

CURRENT ASSETS

Debtors

40,000

Cash at bank

13,343

16,024

53,343

56,024

CREDITORS

Amounts falling due within one year

(87,263

)

(87,013

)

NET CURRENT LIABILITIES

(33,920

)

(30,989

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(33,920

)

(30,989

)

CREDITORS

Amounts falling due after more than one
year

(100,000

)

(140,000

)

NET LIABILITIES

(133,920

)

(170,989

)

CAPITAL AND RESERVES

Called up share capital

3

1,000

Profit and loss account

(134,920

)

(171,989

)

SHAREHOLDERS' FUNDS

(133,920

)

(170,989

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 September 2016 and were signed on its behalf
by:

J Neal - Director

M A Neal - Director

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).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Going concern

The balance sheet shows that as at 31 December 2015 liabilities exceeded assets by £133,920 (2014: £170,989).

The company has received assurance from its directors that they will continue to support the company and

accordingly the accounts have been prepared on a going concern basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

206,890

DEPRECIATION

At 1 January 2015

and 31 December 2015

206,890

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

1,000

Ordinary

1

1,000