Abbreviated Company Accounts - LOLA CLIPS LIMITED

LOLA CLIPS LIMITED - Company Information

09127260 LOLA CLIPS LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true 09127260 2015-04-01 2016-03-31 09127260 2016-03-31 09127260 2015-03-31 09127260 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 09127260 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-03-31 iso4217:GBP shares

Registered Number 09127260

LOLA CLIPS LIMITED

Abbreviated Accounts

31 March 2016

LOLA CLIPS LIMITED Registered Number 09127260

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	111,323	4,399
Tangible assets	3	644	-
		111,967	4,399
Current assets
Debtors		7,981	4,621
Cash at bank and in hand		12,991	13,467
		20,972	18,088
Creditors: amounts falling due within one year		(38,709)	(54,008)
Net current assets (liabilities)		(17,737)	(35,920)
Total assets less current liabilities		94,230	(31,521)
Total net assets (liabilities)		94,230	(31,521)
Capital and reserves
Called up share capital	4	150,000	100
Profit and loss account		(55,770)	(31,621)
Shareholders' funds		94,230	(31,521)

For the year ending 31 March 2016 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 22 December 2016

And signed on their behalf by:
Dominic Dare, Director

LOLA CLIPS LIMITED Registered Number 09127260

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment - 25% per annum on a net reducing balance

Other accounting policies
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of transactions. All differences are taken to the Profit and Loss account.

2Intangible fixed assets

	£
Cost
At 1 April 2015	4,399
Additions	112,585
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	116,984
Amortisation
At 1 April 2015	-
Charge for the year	5,661
On disposals	-
At 31 March 2016	5,661
Net book values
At 31 March 2016	111,323
At 31 March 2015	4,399

3Tangible fixed assets

	£
Cost
At 1 April 2015	-
Additions	859
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	859
Depreciation
At 1 April 2015	-
Charge for the year	215
On disposals	-
At 31 March 2016	215
Net book values
At 31 March 2016	644
At 31 March 2015	-

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100
149,900 Loan stock shares of £1 each (0 shares for 2015)	149,900	0