Lifestyle Interiors by Elaine Gore Ltd - Accounts to registrar - small 17.1

REGISTERED NUMBER: 06794432 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Lifestyle Interiors by Elaine Gore Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

Mrs E MacGeekie

A MacGeekie

REGISTERED OFFICE:

28 Ravenscroft Close

Middlewich

Cheshire

CW10 9PX

REGISTERED NUMBER:

06794432 (England and Wales)

ACCOUNTANTS:

Silvergate Consulting (Crewe) Limited

Lynton House

16 Nigel Gresley Close

Crewe

Cheshire

CW1 5GN

FIXED ASSETS

Tangible assets

4

14,128

9,849

CURRENT ASSETS

Stocks

34,122

65,223

Debtors

5

287,830

198,188

Cash at bank and in hand

80,079

122,446

402,031

385,857

CREDITORS

Amounts falling due within one year

6

158,870

127,387

NET CURRENT ASSETS

243,161

258,470

TOTAL ASSETS LESS CURRENT LIABILITIES

257,289

268,319

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

257,189

268,219

SHAREHOLDERS' FUNDS

257,289

268,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

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 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 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 Board of Directors on 5 September 2017 and were signed on its behalf by:

Mrs E MacGeekie - Director

1.	STATUTORY INFORMATION

Lifestyle Interiors by Elaine Gore Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will

be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2016

475

22,997

23,472

Additions

999

9,800

10,799

Disposals

-

(10,495

)

(10,495

)

At 31 March 2017

1,474

22,302

23,776

DEPRECIATION

At 1 April 2016

475

13,148

13,623

Charge for year

282

2,865

3,147

Eliminated on disposal

-

(7,122

)

(7,122

)

At 31 March 2017

757

8,891

9,648

NET BOOK VALUE

At 31 March 2017

717

13,411

14,128

At 31 March 2016

-

9,849

9,849

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

230,728

142,416

Amounts recoverable on contract

22,581

42,395

Other debtors

34,521

13,377

287,830

198,188

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

65,279

47,246

Taxation and social security

62,722

52,356

Other creditors

30,869

27,785

158,870

127,387

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

50

Ordinary A

£1

50

50

50

Ordinary B

£1

50

50

100

100

8.	OTHER FINANCIAL COMMITMENTS

The company has future commitments under non-cancellable operating leases totalling £ 40,000.

9.	FIRST YEAR ADOPTION

The company has, for this financial period, adopted FRS 102 Section 1A for smaller entities for the first time, but no

changes were necessary to the comparative figures for the previous period, in order to also present them under this

new Standard.

The following reproduces the text of the report prepared for the directors and members in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2017 set out on pages to and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Silvergate Consulting (Crewe) Limited

Lynton House

16 Nigel Gresley Close

Crewe

Cheshire

CW1 5GN

5 September 2017