LUV Financial Solutions Ltd,Ltd - AccountsLtd - Accounts

LUV Financial Solutions Ltd,Ltd - AccountsLtd - Accounts

LUV FINANCIAL SOLUTIONS LTD - Company Information

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2016-04-01 08350789 2017-03-31 08350789 2016-04-01 2017-03-31 08350789 2016-03-31 08350789 2015-04-01 2016-03-31 08350789 uk-core:WithinOneYear 2016-03-31 08350789 uk-core:WithinOneYear 2017-03-31 08350789 uk-core:ShareCapital 2017-03-31 08350789 uk-core:ShareCapital 2016-03-31 08350789 uk-core:RetainedEarningsAccumulatedLosses 2017-03-31 08350789 uk-core:RetainedEarningsAccumulatedLosses 2016-03-31 08350789 uk-bus:Director1 2016-04-01 2017-03-31 08350789 uk-core:ToolsEquipment 2016-04-01 2017-03-31 08350789 uk-core:FurnitureFittings 2016-04-01 2017-03-31 08350789 uk-core:ToolsEquipment 2016-03-31 08350789 uk-core:FurnitureFittings 2016-03-31 08350789 uk-core:FurnitureFittings 2017-03-31 08350789 uk-core:ToolsEquipment 2017-03-31 08350789 uk-core:WithinOneYear uk-core:Secured 2017-03-31 08350789 uk-core:WithinOneYear uk-core:Secured 2016-03-31 iso4217:GBP 08350789 uk-bus:AuditExemptWithAccountantsReport 2016-04-01 2017-03-31 08350789 uk-bus:FRS102 2016-04-01 2017-03-31 08350789 uk-bus:FullAccounts 2016-04-01 2017-03-31 08350789 uk-bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31
LUV Financial Solutions Ltd
Registered Number:08350789
For the year ended 31 March 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2017
LUV Financial Solutions Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 March 2017
LUV Financial Solutions Ltd
Statement of Financial Position
Registered Number :
08350789
£
£
2016
2017
Notes
Fixed assets
Property, plant and equipment
76,703
37,315
2
76,703
37,315
Current assets
Trade and other receivables
92,373
162,819
3
34,487
Cash and cash equivalents
136,990
299,809
126,860
Trade and other payables: amounts falling due within one
year
(102,249)
(262,689)
4
24,611
37,120
Net current assets
Total assets less current liabilities
113,823
61,926
113,823
Net assets
61,926
Capital and reserves
Called up share capital
100
100
Retained earnings
113,723
61,826
113,823
61,926
Shareholders' funds
For the year ended 31 March 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
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.
Steven James Hibbert Director
These financial statements were approved and authorised for issue by the Board on 04 May 2017 and were signed by:
The notes form part of these financial statements
1 of 3
4
For the year ended 31 March 2017
LUV Financial Solutions Ltd
Notes to the Financial Statements
Statutory Information
LUV Financial Solutions Ltd is a private limited company, limited by shares, domiciled in England and Wales,
registration number 08350789.
Registered address:
1 Quay Business Centre Harvard Court
Winwick Quay
Warrington
Cheshire
WA2 8LT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
15% Reducing balance
Computer equipment
15% Reducing balance
Fixtures and fittings
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
£
£
£
Cost or
valuation
At 01 April 2016
44,975
21,469
23,506
50,727
15,542
35,185
Additions
At 31 March 2017
58,691
37,011
95,702
Provision for depreciation and impairment
At 01 April 2016
7,660
4,081
3,579
Charge for year
11,339
4,264
7,075
At 31 March 2017
18,999
8,345
10,654
At 31 March 2017
Net book value
48,037
28,666
76,703
At 31 March 2016
19,927
17,388
37,315
2 of 3
5
For the year ended 31 March 2017
LUV Financial Solutions Ltd
Notes to the Financial Statements Continued
3. Trade and other receivables
2016
2017
£
£
Trade debtors
153,914
80,751
Other debtors
8,905
11,622
92,373
162,819
4. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Bank loans and overdraft (secured)
50,000
-
Trade creditors
9,261
8,070
Taxation and social security
45,277
26,338
Other creditors
158,151
67,841
262,689
102,249
3 of 3