Lotus Business Intelligence Solutions Li - Limited company accounts 16.3

REGISTERED NUMBER: 08558073 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 June 2016

for

LOTUS BUSINESS INTELLIGENCE SOLUTIONS

LIMITED

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

to

7

DIRECTOR:

Mr P Balendra

REGISTERED OFFICE:

15 Milton Lawns

Amersham

HP6 6BL

REGISTERED NUMBER:

08558073 (England and Wales)

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

The director presents his report with the financial statements of the company for the year ended 30 June 2016.

DIRECTOR

Mr P Balendra held office during the whole of the period from 1 July 2015 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr P Balendra - Director

3 February 2017

TURNOVER

79,105

144,050

Cost of sales

(1,009

)

-

GROSS PROFIT

78,096

144,050

Administrative expenses

(36,999

)

(35,185

)

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

2

41,097

108,865

Tax on profit on ordinary activities

3

(8,219

)

(21,773

)

PROFIT FOR THE FINANCIAL YEAR

32,878

87,092

CURRENT ASSETS

Debtors

6

-

15,120

Cash at bank

52,140

75,126

52,140

90,246

CREDITORS

Amounts falling due within one year

7

13,821

36,805

NET CURRENT ASSETS

38,319

53,441

TOTAL ASSETS LESS CURRENT LIABILITIES

38,319

53,441

CAPITAL AND RESERVES

Called up share capital

8

2

2

Profit and loss account

9

38,317

53,439

SHAREHOLDERS' FUNDS

38,319

53,441

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

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

The director acknowledges his 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the director on 3 February 2017 and were signed by:

Mr P Balendra - 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 invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

2.	OPERATING PROFIT

The operating profit is stated after charging:

30.6.16

30.6.15

£

£

Director's remuneration and other benefits etc

12,000

12,000

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

30.6.16

30.6.15

£

£

Current tax:

UK corporation tax

8,219

21,773

Tax on profit on ordinary activities

8,219

21,773

4.

DIVIDENDS

30.6.16

30.6.15

£

£

Interim

48,000

62,600

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2015

and 30 June 2016

1,170

DEPRECIATION

At 1 July 2015

and 30 June 2016

1,170

NET BOOK VALUE

At 30 June 2016

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.16

30.6.15

£

£

Trade debtors

-

15,120

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.16

30.6.15

£

£

Trade creditors

1,213

-

Taxation and social security

8,291

31,421

Other creditors

4,317

5,384

13,821

36,805

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

£

2

Ordinary Shares

£1

2

2

9.

RESERVES

Profit

and loss

account

£

At 1 July 2015

53,439

Profit for the year

32,878

Dividends

(48,000

)

At 30 June 2016

38,317