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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2016 |
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LOOSE FINGERS LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2016 |
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FOR |
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LOOSE FINGERS LIMITED |
LOOSE FINGERS LIMITED (REGISTERED NUMBER: 08089110) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MAY 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
LOOSE FINGERS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
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LOOSE FINGERS LIMITED (REGISTERED NUMBER: 08089110) |
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ABBREVIATED BALANCE SHEET |
31 MAY 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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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
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(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. |
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The financial statements were approved by the Board of Directors on
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LOOSE FINGERS LIMITED (REGISTERED NUMBER: 08089110) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MAY 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The company has net current liabilities of £129,352 and net liabilities of £77,831. Included within other creditors due within |
one year is an amount of £44,901 due to the directors Mr A J Bird and Mr R Germanus-Kunda. The directors will not seek |
repayment of these amounts to the detriment of other creditors and will continue to provide the company with financial |
support as and when required. The directors therefore consider it appropriate to prepare the accounts on a going concern |
basis. |
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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 January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Deferred tax |
The charge for taxation is based on the results for the year and takes into account taxation deferred because of timing |
differences between the treatment of certain items for taxation and accounting purposes. In accordance with Financial |
Reporting Standard 19, provision is made for deferred tax in respect of all timing differences that have been originated but |
not reversed by the balance sheet date. Deferred tax assets are recognised when it is more likely than not that the asset |
will be recovered. Deferred tax is measured using rates that have been enacted or substantially enacted by the balance |
sheet date. Deferred tax balances are not discounted. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of |
the lease. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 June 2015 |
and 31 May 2016 |
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DEPRECIATION |
At 1 June 2015 |
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Charge for year |
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At 31 May 2016 |
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NET BOOK VALUE |
At 31 May 2016 |
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At 31 May 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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LOOSE FINGERS LIMITED (REGISTERED NUMBER: 08089110) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
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4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 May 2016 and 31 May 2015: |
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2016 | 2015 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year |
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The loans from the directors are interest free, unsecured and repayable on demand. |