LA_LUPA_HOLDINGS_LIMITED - Accounts

LA_LUPA_HOLDINGS_LIMITED - Accounts

LA LUPA HOLDINGS LIMITED - Company Information

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Company Registration No. 07482812 (England and Wales)
LA LUPA HOLDINGS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
LA LUPA HOLDINGS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
LA LUPA HOLDINGS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
22,750
24,250
Tangible assets
2
13,703
16,121
36,453
40,371
Current assets
Cash at bank and in hand
3
18
Creditors: amounts falling due within one year
(63,507)
(61,733)
Net current liabilities
(63,504)
(61,715)
Total assets less current liabilities
(27,051)
(21,344)
Provisions for liabilities
(4,462)
(4,462)
(31,513)
(25,806)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(31,613)
(25,906)
Shareholders'  funds
(31,513)
(25,806)
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 18 April 2016
Mr P Sandhu
Director
Company Registration No. 07482812
LA LUPA HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 2 -
1
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).

Although the accounts show net liabilities, the Director believes that it is appropriate to prepare the accounts on a going concern basis, as he believes that, the support of investment the company will be able to meet its liabilities as they fall due and return to profitability.

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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:
Land and buildings Leasehold
1% on cost
Fixtures, fittings & equipment
15% on reducing balance
1.6
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.
1.7

Going concern

Although the accounts show net liabilities, the Director believes that it is appropriate to prepare the accounts on a going concern basis, as he believes that, with the support of investment the company will be able to meet its liabilities as they fall due and return to profitability.

LA LUPA HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 February 2015 & at 31 January 2016
30,000
30,001
60,001
Depreciation
At 1 February 2015
5,750
13,880
19,630
Charge for the year
1,500
2,418
3,918
At 31 January 2016
7,250
16,298
23,548
Net book value
At 31 January 2016
22,750
13,703
36,453
At 31 January 2015
24,250
16,121
40,371
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
4
Transactions with directors

Included within creditors falling due within one year is the director's current account which show a balance of £23,505 (2015 £21,733)

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