Liquid_Accounts_Limited - Accounts

LIQUID ACCOUNTS LIMITED - Company Information

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Company Registration No. 05405880 (England and Wales)

Liquid Accounts Limited

Abbreviated Accounts

For The Year Ended 31 March 2016

LIQUID ACCOUNTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

LIQUID ACCOUNTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

2,166

Current assets

Debtors

11,490

48,919

Cash at bank and in hand

32,461

17,776

43,951

66,695

Creditors: amounts falling due within one year

(12,999)

(17,700)

Net current assets

30,952

48,995

Total assets less current liabilities

33,118

48,995

Capital and reserves

Called up share capital

264,638

Share premium account

1,913,774

Profit and loss account

(2,145,294)

(2,129,417)

Shareholders' funds

33,118

48,995

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 J D Wright

Director

Company Registration No. 05405880

LIQUID ACCOUNTS 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 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 the going concern basis as the directors confirm that following the change of strategy the company's financial results have significantly improved and the company is be able to settle its liabilities as they fall due.

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

20% straight line

1.4

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 April 2015

Additions

2,196

At 31 March 2016

2,196

Depreciation

At 1 April 2015

Charge for the year

At 31 March 2016

Net book value

At 31 March 2016

2,166

LIQUID ACCOUNTS 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

13,178 Ordinary 'A' shares of £1 each

13,178

100 Ordinary 'B' shares of £1000 each

100,000

79,218 Ordinary 'C' shares of £1 each

79,218

72,242 Ordinary 'D' shares of £1 each

72,242

264,638