VILLAGE_LIFE_LIMITED - Accounts

VILLAGE LIFE LIMITED - Company Information

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Company Registration No. 01284103 (England and Wales)

VILLAGE LIFE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2016

VILLAGE LIFE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

VILLAGE LIFE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

13,102

15,414

Current assets

Stocks

1,390,000

2,760,000

Debtors

96,367

66,057

Cash at bank and in hand

643,331

44,579

2,129,698

2,870,636

Creditors: amounts falling due within one year

(626,082)

(699,722)

Net current assets

1,503,616

2,170,914

Total assets less current liabilities

1,516,718

2,186,328

Creditors: amounts falling due after more than one year

(698,750)

1,516,718

1,487,578

Capital and reserves

Called up share capital

1,700,100

Profit and loss account

(183,382)

(212,522)

Shareholders' funds

1,516,718

1,487,578

For the financial year ended 31 March 2016 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 28 October 2016

LA Jordan

Director

Company Registration No. 01284103

VILLAGE LIFE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared in accordance with applicable accounting standards.

Despite losses being made the financial statements have been prepared on the going concern basis due to the continued support of the directors.

1.2

Turnover

Turnover represents the invoiced amount of any freehold land sold net of value added tax.

1.3

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:

Fixtures, fittings & equipment

15% reducing balance

1.4

Stock

Stocks of freehold land and property are stated at the lower of cost and net realisable value.

Fixed assets

Tangible assets

Cost

At 1 April 2015 & at 31 March 2016

25,100

Depreciation

At 1 April 2015

9,686

Charge for the year

2,312

At 31 March 2016

11,998

Net book value

At 31 March 2016

13,102

At 31 March 2015

15,414

Creditors: amounts falling due within one year

The loan is secured by a fixed and floating charge over the assets of the company.

VILLAGE LIFE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

1,700,100 Ordinary shares of £1 each

1,700,100