Looking4Parking Limited - Period Ending 2014-12-31

Registration number: 07107772

Looking4Parking Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Winburn Glass Norfolk
Chartered Accountants
Convention House
St. Mary's Street
Leeds
LS9 7DP

Looking4Parking Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Looking4Parking Limited
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Looking4Parking Limited for the year ended 31 December 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Looking4Parking Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Looking4Parking Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Looking4Parking Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Looking4Parking Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Looking4Parking Limited. You consider that Looking4Parking 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 accounts of Looking4Parking 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 accounts.

......................................

Winburn Glass Norfolk
Chartered Accountants
Convention House
St. Mary's Street
Leeds
LS9 7DP

30 November 2015

Page 1

Looking4Parking Limited
(Registration number: 07107772)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					18,000			20,000
Tangible fixed assets					20,452			43,761
					38,452			63,761
Current assets
Debtors					761,025			447,323
Cash at bank and in hand					173,217			231,764
					934,242			679,087
Creditors: Amounts falling due within one year					(1,064,516)			(549,109)
Net current (liabilities)/assets					(130,274)			129,978
Total assets less current liabilities					(91,822)			193,739
Creditors: Amounts falling due after more than one year					-			(17,076)
Net (liabilities)/assets					(91,822)			176,663
Capital and reserves
Called up share capital		4			900			900
Profit and loss account					(92,722)			175,763
Shareholders' (deficit)/funds					(91,822)			176,663

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 30 November 2015 and signed on its behalf by:

.........................................
Mr David Greenbrown
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Looking4Parking Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements with the continued support of its directors.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of services to customers.

Amortisation

Intangible assets are valued at cost less accumulated amortisation.

Asset class	Amortisation method and rate
Intangible fixed asset	10% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their estimated useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	20% straight line
Motor vehicles	33% straight line

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Looking4Parking Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2014		20,000			77,246			97,246
Additions		-			10,683			10,683
Disposals		-			(53,363)			(53,363)
At 31 December 2014		20,000			34,566			54,566
Depreciation
At 1 January 2014		-			33,485			33,485
Charge for the year		2,000			14,145			16,145
Eliminated on disposals		-			(33,516)			(33,516)
At 31 December 2014		2,000			14,114			16,114
Net book value
At 31 December 2014		18,000			20,452			38,452
At 31 December 2013		20,000			43,761			63,761

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		6			11,278
Amounts falling due after more than one year		-			17,076
Total secured creditors		6			28,354

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		900			900			900			900

Page 4

Looking4Parking Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

5

Control

The company is controlled by Travel Parking Group Limited by virtue of its shareholding. The ultimate controlling parties are M Mansell and D G Greenbrown..

Page 5