Lloyd IP Limited - Accounts to registrar - small 17.2
Lloyd IP Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| Financial Statements For The Year Ended 31 December 2016 |
| for |
| Lloyd IP Limited |
| Lloyd IP Limited (Registered number: 03821040) |
| Contents of the Financial Statements |
| For The Year Ended 31 December 2016 |
| Page |
| Company Information | 1 |
| Abridged Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Lloyd IP Limited |
| Company Information |
| For The Year Ended 31 December 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Regent Court |
| 70 West Regent Street |
| Glasgow |
| G2 2QZ |
| Lloyd IP Limited (Registered number: 03821040) |
| Abridged Statement of Financial Position |
| 31 December 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 3 |
| CURRENT ASSETS |
| Debtors |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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. |
| 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 |
| Lloyd IP Limited (Registered number: 03821040) |
| Notes to the Financial Statements |
| For The Year Ended 31 December 2016 |
| 1. | STATUTORY INFORMATION |
| Lloyd IP Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Trademarks |
| Trademark purchases are capitalised during the year of purchases. The only trademark capitalised is currently |
| being amortised over 20 years. The directors consider this to be the useful economic life of the trademark. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 have been enacted or |
| substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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. |
| Lloyd IP Limited (Registered number: 03821040) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 December 2016 |
| 3. | INTANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST OR VALUATION |
| At 1 January 2016 |
| and 31 December 2016 |
| AMORTISATION |
| At 1 January 2016 |
| Amortisation for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| Cost or valuation at 31 December 2016 is represented by: |
| Totals |
| £ |
| The value of the trademark held in Intangible fixed assets was considered at the year end by the Directors of the |
| company. It was concluded that the valuation in the accounts is accurate. |
| 4. | RELATED PARTY DISCLOSURES |
| VSJ Limited |
| A company with common directors |
| The company received no royalty income in the year (2015 - £nil) from VSJ Limited. The Company charged |
| VSJ Limited nil in the year for use of the brands (2015 - £25,000). |
| Monaco Research & Design SAM |
| A company in which the directors have a shareholding. |
| Monaco Research & Design SAM owed the company £254,635 (2015 - £254,635) at the end of the year. |
| Lloyd Brothers (Scotland) Limited |
| A company with common directors |
| There are no transactions to disclose in this year or the prior year. |
| 5. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |
| 6. | FIRST YEAR ADOPTION |
| The company has adopted FRS 102 section 1A for the year ended 31 December 2016. There were no |
| restatements required to comparative figures. |