Lotce Holdings Limited - Accounts to registrar - small 17.1.1

Lotce Holdings Limited - Accounts to registrar - small 17.1.1

LOTCE HOLDINGS LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v17.1.1.60 07893502 director 1.1.16 31.12.16 31.12.16 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure078935022015-12-31078935022016-12-31078935022016-01-012016-12-31078935022014-12-31078935022015-01-012015-12-31078935022015-12-3107893502ns15:EnglandWales2016-01-012016-12-3107893502ns14:PoundSterling2016-01-012016-12-3107893502ns10:Director12016-01-012016-12-3107893502ns10:PrivateLimitedCompanyLtd2016-01-012016-12-3107893502ns10:SmallEntities2016-01-012016-12-3107893502ns10:AuditExempt-NoAccountantsReport2016-01-012016-12-3107893502ns10:SmallCompaniesRegimeForDirectorsReport2016-01-012016-12-3107893502ns10:SmallCompaniesRegimeForAccounts2016-01-012016-12-3107893502ns10:FullAccounts2016-01-012016-12-3107893502ns10:RegisteredOffice2016-01-012016-12-3107893502ns5:CurrentFinancialInstruments2016-12-3107893502ns5:CurrentFinancialInstruments2015-12-3107893502ns5:ShareCapital2016-12-3107893502ns5:ShareCapital2015-12-3107893502ns5:RetainedEarningsAccumulatedLosses2016-12-3107893502ns5:RetainedEarningsAccumulatedLosses2015-12-3107893502ns5:PlantMachinery2016-01-012016-12-3107893502ns5:ComputerEquipment2015-12-3107893502ns5:ComputerEquipment2016-01-012016-12-3107893502ns5:ComputerEquipment2016-12-3107893502ns5:ComputerEquipment2015-12-3107893502ns5:CostValuation2015-12-3107893502ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-12-3107893502ns5:CurrentFinancialInstrumentsns5:WithinOneYear2015-12-3107893502ns5:CurrentFinancialInstruments2016-01-012016-12-31
















LOTCE HOLDINGS LIMITED

Unaudited Financial Statements

For The Year Ended 31st December 2016






LOTCE HOLDINGS LIMITED (REGISTERED NUMBER: 07893502)

Contents of the Financial Statements
For The Year Ended 31st December 2016










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOTCE HOLDINGS LIMITED

Company Information
For The Year Ended 31st December 2016







DIRECTOR: C R Shiret





REGISTERED OFFICE: 1 Nelson Street
Southend on Sea
Essex
SS1 1EG





REGISTERED NUMBER: 07893502 (England and Wales)





ACCOUNTANTS: Wilkins Kennedy LLP
Chartered Accountants
1 - 5 Nelson Street
Southend on Sea
Essex
SS1 1EG
Page 1
LOTCE HOLDINGS LIMITED (REGISTERED NUMBER: 07893502)

Balance Sheet
31st December 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 4,497 5,996
Investments 4 12,000 12,000
16,497 17,996

CURRENT ASSETS
Debtors 5 1 1
Cash at bank 135 1,155
136 1,156
CREDITORS
Amounts falling due within one year 6 1,407,180 1,370,998
NET CURRENT LIABILITIES (1,407,044 ) (1,369,842 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(1,390,547
)
(1,351,846
)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (1,390,548 ) (1,351,847 )
SHAREHOLDERS' FUNDS (1,390,547 ) (1,351,846 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 notes form part of these financial statements

Page 2 continued...
LOTCE HOLDINGS LIMITED (REGISTERED NUMBER: 07893502)

Balance Sheet - continued
31st December 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 21st April 2017 and were signed by:





C R Shiret - Director


The notes form part of these financial statements

Page 3
LOTCE HOLDINGS LIMITED (REGISTERED NUMBER: 07893502)

Notes to the Financial Statements
For The Year Ended 31st December 2016


1. STATUTORY INFORMATION

Lotce Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis as the directors have indicated that they are not
planning to call upon their loan positions to be repaid in the foreseeable future.

Preparation of consolidated financial statements
The financial statements contain information about Lotce Holdings Limited as an individual company and do not
contain consolidated financial information as the parent of a group. The company has taken the option under
Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Significant judgements and estimates
The preparation of financial statements requires management to make judgements, estimates and assumptions
about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates
and underlying assumptions are based on historical experience and other factors that are considered to be
relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is revised if the revision affects only that period, or in the
period of the revision and future periods if the revision affects both current and future periods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Computer equipment is measured at cost less accumulated depreciation and accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiaries are accounted for at cost less impairment in the financial statements.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or
past reporting periods using tax rates that have been enacted or substantively enacted by the reporting date.


Page 4 continued...
LOTCE HOLDINGS LIMITED (REGISTERED NUMBER: 07893502)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2016


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and
other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against
future taxable profits or against the reversal of deferred tax liabilities.

Deferred tax relating to a non-depreciable asset that is measured using the revaluation model, or to investment
properties measured at fair value, is measured using the tax rates and allowances that apply to the sale of the
asset.

In a business combination, a deferred tax liability or asset is recognised for the additional tax that will be paid or
avoided in respect of that difference. The amount that is attributable to goodwill is adjusted by the amount of the
deferred tax recognised.

Hire purchase and leasing commitments
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the
lease term. Lease incentives are recognised over the lease term on a straight line basis.

3. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st January 2016
and 31st December 2016 16,200
DEPRECIATION
At 1st January 2016 10,204
Charge for year 1,499
At 31st December 2016 11,703
NET BOOK VALUE
At 31st December 2016 4,497
At 31st December 2015 5,996

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1st January 2016
and 31st December 2016 12,000
NET BOOK VALUE
At 31st December 2016 12,000
At 31st December 2015 12,000

Page 5 continued...
LOTCE HOLDINGS LIMITED (REGISTERED NUMBER: 07893502)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2016


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Other debtors 1 1

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Other creditors 1,407,180 1,370,998

Other creditors includes £904,750 (2015: £1,368,998) of loans from the directors.

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year amounts were advanced to the Company at various points by the directors. These advances
totalled nil (2015: nil) for Mr C P R Channing-Cotter and £35,752 (2015: £1,600) for Mr C Shiret. During the
year Mr C P R Channing-Cotter resigned as director of the company and his loan balance was transfered to other
creditors.

The total amounts outstanding to each director, as at the year end date, was: -

Mr C Shiret - £904,750

8. ULTIMATE CONTROLLING PARTY

The controlling party is C R Shiret.

9. FIRST YEAR ADOPTION

This is the first year that Lotce Holdings Limited has prepared its results under FRS 102. The last financial
statements prepared under previous UK GAAP were for the year ended 31 December 2015. The date of transition
to FRS 102 was 1 January 2016.

No transition differences have been identified on transition from previous UK GAAP to FRS 102. As such, no
transition tables are presented showing the differences between the financial statements as presented under
previous GAAP and as presented under FRS 102.

Page 6