Logo Leisurewear Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 05470384 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2013

for

Logo Leisurewear Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr S McSherry

Mrs A J McSherry

SECRETARY:

REGISTERED OFFICE:

16-18 Station Road

Chapeltown

Sheffield

South Yorkshire

S35 2XH

REGISTERED NUMBER:

05470384 (England and Wales)

ACCOUNTANTS:

Eura Audit UK

16-18 Station Road

Chapeltown

Sheffield

South Yorkshire

S35 2XH

FIXED ASSETS

Intangible assets

2

2,800

5,600

Tangible assets

3

9,244

10,479

12,044

16,079

CURRENT ASSETS

Stocks

32,652

37,767

Debtors

18,199

15,412

Cash at bank and in hand

13,706

5,204

64,557

58,383

CREDITORS

Amounts falling due within one year

104,099

106,913

NET CURRENT LIABILITIES

(39,542

)

(48,530

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(27,498

)

(32,451

)

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

(27,500

)

(32,453

)

SHAREHOLDERS' FUNDS

(27,498

)

(32,451

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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.

28/04/2010 the Board of Directors on 23 June 2014 and were signed on its behalf by:

Mr S McSherry - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, 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.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

28,000

AMORTISATION

At 1 January 2013

22,400

Amortisation for year

2,800

At 31 December 2013

25,200

NET BOOK VALUE

At 31 December 2013

2,800

At 31 December 2012

5,600

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

20,882

Additions

1,074

At 31 December 2013

21,956

DEPRECIATION

At 1 January 2013

10,403

Charge for year

2,309

At 31 December 2013

12,712

NET BOOK VALUE

At 31 December 2013

9,244

At 31 December 2012

10,479

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

2

Ordinary

£1

2

2