Luv Dogz Ltd - Period Ending 2016-03-31

Registration number: 08675474

Luv Dogz Ltd

Unaudited abbreviated accounts

for the year ended 31 March 2016
 

Luv Dogz Ltd
Contents

Abbreviated balance sheet 1 to 2

Notes to the abbreviated accounts 3 to 4

Luv Dogz Ltd
(Registration number: 08675474)
Abbreviated balance sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			5,964			3,844
Current assets
Stock					3,521			1,703
Debtors					3,538			1,693
Cash at bank and in hand					3,019			1,552
					10,078			4,948
Creditors: amounts falling due within one year					(22,530)			(13,910)
Net current liabilities					(12,452)			(8,962)
Net liabilities					(6,488)			(5,118)
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(6,490)			(5,120)
Shareholders' deficit					(6,488)			(5,118)

The notes on pages 3 to 4 form an integral part of these abbreviated accounts.
Page 1

Luv Dogz Ltd
(Registration number: 08675474)
Abbreviated balance sheet at 31 March 2016
......... continued

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the board on 16 December 2016 and signed on its behalf by:

 Mrs H Seddon
 Director

The notes on pages 3 to 4 form an integral part of these abbreviated accounts.
Page 2

Luv Dogz Ltd
Notes to the abbreviated accounts for the year ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis. The company is reliant on the continued financial support of another company controlled by the same shareholders and directors.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of pet food and ancilliary products to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation rate and method
Website	25% Straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date. A deferred tax asset is recognised to the extent that the directors consider there will be future profits against which to utilise the losses.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Luv Dogz Ltd
Notes to the abbreviated accounts for the year ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		5,440			5,440
Additions		4,640			4,640
At 31 March 2016		10,080			10,080
Depreciation
At 1 April 2015		1,596			1,596
Charge for the year		2,520			2,520
At 31 March 2016		4,116			4,116
Net book value
At 31 March 2016		5,964			5,964
At 31 March 2015		3,844			3,844

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £ 1 each		2			2			2			2

Page 4