Life of My Dreams Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06025346 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 April 2016

for

Life of My Dreams Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs C M Tiong

A K K Tiong

SECRETARY:

Mrs C M Tiong

REGISTERED OFFICE:

Overdene House

49 Church Street

Theale

Reading

Berkshire

RG7 5BX

REGISTERED NUMBER:

06025346 (England and Wales)

ACCOUNTANTS:

Kirkpatrick & Hopes Ltd

Overdene House

49 Church Street

Theale

Reading

Berkshire

RG7 5BX

FIXED ASSETS

Intangible assets

2

138,000

161,000

Tangible assets

3

5,177

5,368

143,177

166,368

CURRENT ASSETS

Debtors

-

9,000

Cash at bank

15,223

-

15,223

9,000

CREDITORS

Amounts falling due within one year

77,234

155,262

NET CURRENT LIABILITIES

(62,011

)

(146,262

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

81,166

20,106

PROVISIONS FOR LIABILITIES

1,035

966

NET ASSETS

80,131

19,140

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

80,031

19,040

SHAREHOLDERS' FUNDS

80,131

19,140

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 January 2017 and were signed on its behalf by:

A K K Tiong - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net sales of services, excluding value added tax. Income is recognised as services are

provided.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Going concern justification

The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is

appropriate because there are no material uncertainties related to events or conditions that may cast significant

doubt about the ability of the company to continue as a going concern.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

230,000

AMORTISATION

At 1 May 2015

69,000

Amortisation for year

23,000

At 30 April 2016

92,000

NET BOOK VALUE

At 30 April 2016

138,000

At 30 April 2015

161,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

18,954

Additions

6,063

At 30 April 2016

25,017

DEPRECIATION

At 1 May 2015

13,586

Charge for year

6,254

At 30 April 2016

19,840

NET BOOK VALUE

At 30 April 2016

5,177

At 30 April 2015

5,368

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

100

Ordinary shares

£1

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the following balance existed on a loan account with the directors:

A K & Mrs C Tiong £30,901 in credit (2015 - £123,138 in credit)

The above loan is interest free and with no fixed date for repayment.

The company paid dividends to its directors as follows:

A K Tiong £32,000 (2015 - £28,600)

Mrs C Tiong £32,000 (2015 - £28,600)