SEANEETTE_PORTER_LIMITED - Accounts

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Company Registration No. 04975940 (England and Wales)

SEANEETTE PORTER LIMITED

TRADING AS 'LOOKFANTASTIC'

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

SEANEETTE PORTER LIMITED

TRADING AS 'LOOKFANTASTIC'

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

SEANEETTE PORTER LIMITED

TRADING AS 'LOOKFANTASTIC'

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SEANEETTE PORTER LIMITED FOR THE YEAR ENDED 31 DECEMBER 2015

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Seaneette Porter Limited for the year ended 31 December 2015 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Seaneette Porter 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 financial statements of Seaneette Porter Limited and state those matters that we have agreed to state to the Board of Directors of Seaneette Porter Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Seaneette Porter Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Seaneette Porter 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 profit of Seaneette Porter Limited. You consider that Seaneette Porter 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 Seaneette Porter 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.

Carpenter Box

29 September 2016

Chartered Accountants

Amelia House

Crescent Road

Worthing

West Sussex

BN11 1QR

SEANEETTE PORTER LIMITED

TRADING AS 'LOOKFANTASTIC'

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 2 -

2015

2014

Notes

Fixed assets

Tangible assets

11,031

4,177

Current assets

Stocks

22,685

22,799

Debtors

4,266

11,272

Cash at bank and in hand

29,550

34,134

56,501

68,205

Creditors: amounts falling due within one year

(27,237)

(28,948)

Net current assets

29,264

39,257

Total assets less current liabilities

40,295

43,434

Provisions for liabilities

(1,512)

38,783

43,434

Capital and reserves

Called up share capital

100

Profit and loss account

38,683

43,334

Shareholders' funds

38,783

43,434

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 September 2016

Mrs S Porter

Mr M A Porter

Director

Company Registration No. 04975940

SEANEETTE PORTER LIMITED

TRADING AS 'LOOKFANTASTIC'

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts, recognised at the point of sale or when services provided.

1.3

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Improvements to property

Evenly over the term of the lease.

Fixtures, fittings & equipment

15% p.a. reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock is valued at the lower of cost and net realisable value, on a first in first out basis.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

SEANEETTE PORTER LIMITED

TRADING AS 'LOOKFANTASTIC'

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2015

88,000

70,408

158,408

Additions

7,849

At 31 December 2015

88,000

78,257

166,257

Depreciation

At 1 January 2015

88,000

66,231

154,231

Charge for the period

995

At 31 December 2015

88,000

67,226

155,226

Net book value

At 31 December 2015

11,031

At 31 December 2014

4,177

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mrs S Porter -

7,278