Lulu Kitololo Studio Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06725821 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2017

for

Lulu Kitololo Studio Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

5

DIRECTOR:

Miss Lulu Vanessa Kitololo

REGISTERED OFFICE:

40 Bloomsbury Way

Lower Ground Floor

London

WC1A 2SE

REGISTERED NUMBER:

06725821 (England and Wales)

ACCOUNTANTS:

G Defor and Co

Chartered Certified Accountants

55 Carters Mead

Harlow

Essex

CM17 9ER

FIXED ASSETS

Tangible assets

4

302

403

CURRENT ASSETS

Stocks

5

-

(6,985

)

Debtors

6

16,338

18,989

Cash at bank and in hand

564

4,704

16,902

16,708

CREDITORS

Amounts falling due within one year

7

23,897

19,116

NET CURRENT LIABILITIES

(6,995

)

(2,408

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,693

)

(2,005

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(6,703

)

(2,015

)

SHAREHOLDERS' FUNDS

(6,693

)

(2,005

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 24 April 2018 and were signed by:

Miss Lulu Vanessa Kitololo - Director

1.	STATUTORY INFORMATION

Lulu Kitololo Studio 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.

Turnover

Turnover represents the total invoice value excluding value added tax, of services made during the year.

Tangible fixed assets

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

Computer equipment

-

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 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 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.

Going concern

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 August 2016

and 31 July 2017

1,532

DEPRECIATION

At 1 August 2016

1,129

Charge for year

101

At 31 July 2017

1,230

NET BOOK VALUE

At 31 July 2017

302

At 31 July 2016

403

5.

STOCKS

31.7.17

31.7.16

£

£

Payments on account

-

(6,985

)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

12,607

17,602

Other debtors

3,731

1,387

16,338

18,989

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Bank loans and overdrafts

2,272

1

VAT Cash control

58

95

Trade creditors

3,657

4,049

Taxation and social security

1,191

2,573

Other creditors

16,719

12,398

23,897

19,116

8.	RELATED PARTY DISCLOSURES

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Lulu Kitololo Studio Limited for the year ended 31 July 2017 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Lulu Kitololo Studio Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lulu Kitololo Studio Limited and state those matters that we have agreed to state to the director of Lulu Kitololo Studio Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Lulu Kitololo Studio Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lulu Kitololo Studio Limited. You consider that Lulu Kitololo Studio Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lulu Kitololo Studio Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

G Defor and Co

Chartered Certified Accountants

55 Carters Mead

Harlow

Essex

CM17 9ER

25 April 2018