Loanchoice Limited - Abbreviated accounts

Registered number

08064645

Loanchoice Limited

Abbreviated Accounts

31 May 2016

Loanchoice Limited
Registered number:		08064645
Abbreviated Balance Sheet
as at 31 May 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		617,519			258,144

Current assets
Debtors		293,337			302,469
Cash at bank and in hand		16,622			12,453
		309,959			314,922

Creditors: amounts falling due within one year		(285,113)			(205,700)

Net current assets			24,846			109,222

Total assets less current liabilities			642,365			367,366

Creditors: amounts falling due after more than one year			(342,411)			(145,821)



Net assets			299,954			221,545

Capital and reserves
Called up share capital	4		4			4
Profit and loss account			299,950			221,541

Shareholders' funds			299,954			221,545

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr Neil Rennard
Director
Approved by the board on 7 December 2016

Loanchoice Limited
Notes to the Abbreviated Accounts
for the year ended 31 May 2016

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Land and buildings			Nil (investment property)


2	Tangible fixed assets					£

	Cost
	At 1 June 2015					258,144
	Additions					359,375
	At 31 May 2016					617,519

	Depreciation
	At 31 May 2016					-

	Net book value
	At 31 May 2016					617,519
	At 31 May 2015					258,144


3	Loans					2016		2015
£							£
	Creditors include:
	Amounts falling due for payment after more than five years					281,061		120,202
	Secured bank loans					356,811		151,346


4	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		4		4		4