Homestyle 4U Limited - Limited company accounts 16.1

REGISTERED NUMBER: 06506120 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2016

FOR

HOMESTYLE 4U LIMITED

Page

Company Information

1

Report of the Directors

2

Chartered Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTORS:

M Carvell

M Lowe

REGISTERED OFFICE:

75 Park Lane

Croydon

Surrey

CR9 1XS

REGISTERED NUMBER:

06506120 (England and Wales)

ACCOUNTANTS:

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

The directors present their report with the financial statements of the company for the year ended 29 February 2016.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of trading in Database and Software

Consultancy.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 March 2015 to the date of this report.

M Carvell

M Lowe

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

THIS REPORT WAS APPROVED BY THE BOARD:

M Lowe - Director

8 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Homestyle 4U Limited for the year ended 29 February 2016 which comprise the Profit and Loss

Account, 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 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 Homestyle 4U Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Homestyle 4U Limited and state those matters that we have agreed to state to the Board of Directors of Homestyle 4U Limited, 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 the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Homestyle 4U Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Homestyle 4U Limited. You consider that Homestyle 4U 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 financial statements of Homestyle 4U 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 financial statements.

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

29 September 2016

TURNOVER

-

22,565

Cost of sales

-

3,574

GROSS PROFIT

-

18,991

Administrative expenses

822

17,592

OPERATING (LOSS)/PROFIT

2

(822

)

1,399

Exceptional item

-

34,757

(822

)

(33,358

)

Interest payable and similar charges

(63

)

(523

)

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION

(885

)

(33,881

)

Tax on loss on ordinary activities

3

-

-

LOSS FOR THE FINANCIAL YEAR

(885

)

(33,881

)

CURRENT ASSETS

Debtors

4

-

31

Cash at bank

351

1,205

TOTAL ASSETS LESS CURRENT LIABILITIES

351

1,236

CAPITAL AND RESERVES

Called up share capital

5

114

114

Share premium

6

49,986

49,986

Profit and loss account

6

(49,749

)

(48,864

)

SHAREHOLDERS' FUNDS

351

1,236

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 8 September 2016 and were signed on its behalf by:

M Lowe - 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.

Deferred tax

Deferred tax is provided using the liability method in respect of all material timing differences that have

originated but not reversed by the balance sheet date. Deferred tax assets are recognised where it is considered

more likely than not that future profits will be available for offset. The company has not adopted a policy of

discounting deferred tax assets and liabilities.

Intangible assets

Intangible assets held for use are valued at historical cost. The carrying value of intangible assets is reviewed for

impairment annually. Intangible assets are amortised through the Profit and loss account over a period of 3 years,

estimated by the Directors' to be the useful economic life.

Cash flow statement

The director has taken advantage of the exemption for small companies under FRSSE. Consequently, no cash

flow statement has been prepared.

2.	OPERATING (LOSS)/PROFIT

The operating loss (2015 - operating profit) is stated after charging:

2016

2015

£

£

Software development amortisation

-

5,223

Directors' remuneration and other benefits etc

-

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 29 February 2016 nor for the

year ended 28 February 2015.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

VAT

-

31

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

114

114

6.

RESERVES

Profit

and loss

Share

account

premium

Totals

£

£

£

At 1 March 2015

(48,864

)

49,986

1,122

Deficit for the year

(885

)

(885

)

At 29 February 2016

(49,749

)

49,986

237