LOVE_ENERGY_SAVINGS.COM_L - Accounts

LOVE ENERGY SAVINGS.COM LIMITED - Company Information

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Company Registration No. 06322305 (England and Wales)

LOVE ENERGY SAVINGS.COM LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

LOVE ENERGY SAVINGS.COM LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

LOVE ENERGY SAVINGS.COM LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

2,730

15,538

Current assets

Debtors

116,857

90,973

Cash at bank and in hand

136,236

161,142

253,093

252,115

Creditors: amounts falling due within one year

(388,054)

(248,450)

Net current (liabilities)/assets

(134,961)

3,665

Total assets less current liabilities

(132,231)

19,203

Creditors: amounts falling due after more than one year

(552,632)

(472,222)

(684,863)

(453,019)

Capital and reserves

Called up share capital

Profit and loss account

(684,958)

(453,114)

Shareholders' funds

(684,863)

(453,019)

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 17 July 2015

Mr P Foster

Director

Company Registration No. 06322305

LOVE ENERGY SAVINGS.COM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company has prepared the accounts on the Going Concern basis in the expectation that the will provide the company with sufficient liquidity to allow it to continue to trade and meet all of its obligations.

1.2

Turnover

Commission is derived from the sale of fixed term commercial energy contracts. Revenue is recognised upon payment of commission from the energy supplier. Due to the uncertain nature of the whole life contract value, no revenue is recognised until payment has been received.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

33% on cost

Fixtures, fittings & equipment

33% on cost

Fixed assets

Tangible assets

Cost

At 1 January 2014

42,493

Additions

868

At 31 December 2014

43,361

Depreciation

At 1 January 2014

26,955

Charge for the year

13,676

At 31 December 2014

40,631

Net book value

At 31 December 2014

2,730

At 31 December 2013

15,538

Share capital

2014

2013

Allotted, called up and fully paid

9,500 Ordinary shares of 1p each