LITTLE_IMPRESSIONS_LTD - Accounts

LITTLE IMPRESSIONS LTD. - Company Information

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Company Registration No. 04167424 (England and Wales)

LITTLE IMPRESSIONS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

LITTLE IMPRESSIONS LTD

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

LITTLE IMPRESSIONS LTD

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LITTLE IMPRESSIONS LTD FOR THE YEAR ENDED 31 MARCH 2016

- 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 Little Impressions Ltd for the year ended 31 March 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, 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 Little Impressions Ltd, 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 Little Impressions Ltd and state those matters that we have agreed to state to the Board of Directors of Little Impressions Ltd, 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 Little Impressions Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Little Impressions Ltd 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 Little Impressions Ltd. You consider that Little Impressions Ltd 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 Little Impressions Ltd. 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

21 December 2016

Chartered Accountants

Amelia House

Crescent Road

Worthing

West Sussex

BN11 1QR

LITTLE IMPRESSIONS LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

186

262

Current assets

Stocks

4,700

5,000

Debtors

30,924

21,063

Cash at bank and in hand

1,302

625

36,926

26,688

Creditors: amounts falling due within one year

(43,439)

(48,631)

Net current liabilities

(6,513)

(21,943)

Total assets less current liabilities

(6,327)

(21,681)

Capital and reserves

Called up share capital

100

Profit and loss account

(6,427)

(21,781)

Shareholders' funds

(6,327)

(21,681)

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 21 December 2016

Mr A Franks

Director

Company Registration No. 04167424

LITTLE IMPRESSIONS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 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).

The financial statements have been prepared on a going concern basis, which assumes that the company will continue trading for the foreseeable future. The company is dependent on the continued support of the bank and its creditors. The company is currently trading within its overdraft facility and within creditor terms. The financial statements do not include any adjustments that would result from a withdrawal of the overdraft facility by the company's bankers.

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts ..

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:

Plant and machinery

25% straight line per annum

1.4

Stock

Stock is valued at the lower of cost and net realisable value.

Fixed assets

Tangible assets

Cost

At 1 April 2015 & at 31 March 2016

17,253

Depreciation

At 1 April 2015

16,991

Charge for the period

At 31 March 2016

17,067

Net book value

At 31 March 2016

186

At 31 March 2015

262

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £11,645 (2015 - £16,321).

LITTLE IMPRESSIONS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Share capital

2016

2015

Allotted, called up and fully paid

100 ordinary shares of £1 each

100

Related party relationships and transactions

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

Mr A Franks -

14,697

41,946

33,844

22,799

14,697

41,946

33,844

22,799