Launch48 Ltd - Accounts to registrar

REGISTERED NUMBER: 07124540 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Launch48 Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Hales

REGISTERED OFFICE:

Lockside

5 Scotland Street

Birmingham

West Midlands

B1 2RR

REGISTERED NUMBER:

07124540 (England and Wales)

ACCOUNTANTS:

Locke Williams Associates LLP

Chartered Accountants

Blackthorn House

St Pauls Square

Birmingham

West Midlands

B3 1RL

CURRENT ASSETS

Debtors

4

1,400

8,792

Cash at bank

77

2,785

1,477

11,577

CREDITORS

Amounts falling due within one year

5

-

7,513

NET CURRENT ASSETS

1,477

4,064

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,477

4,064

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

1,377

3,964

SHAREHOLDERS' FUNDS

1,477

4,064

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

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

The director acknowledges his 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 18 May 2017 and were signed by:

M Hales - Director

1.	STATUTORY INFORMATION

Launch48 Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

These financial statements for the year ended 31 March 2017 are the first financial statements that

comply with FRS 102 Section 1A small entities. The date of transition is 1 April 2015.

The transition to FRS 102 Section 1A small entities has not resulted in any changes in accounting

policies to those used previously or restatements of balance sheet items as at 1 April 2015 or 31

March 2016.

Going concern

As explained in the Directors report Launch48 Ltd ceased trading on 31 March 2017. As such the

Directors do not consider launch48 Ltd to be a going concern, and have therefore prepared the

financial statements on a break up basis with all foreseeable liabilities of the company being included

and shown as falling due within one year.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss

account in other administrative expenses.

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 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.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2016

and 31 March 2017

2,623

1,755

4,378

DEPRECIATION

At 1 April 2016

and 31 March 2017

2,623

1,755

4,378

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Amounts owed by group undertakings

1,400

-

Tax

-

934

VAT

-

7,858

1,400

8,792

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Trade creditors

-

2,500

Amounts owed to group undertakings

-

2,613

Accruals and deferred income

-

2,400

-

7,513

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Hales.

Launch48 Ltd - Accounts to registrar - small 17.1

Launch48 Ltd - Accounts to registrar - small 17.1