Little America Limited
Little America Limited
Registered number: 09434966
Unaudited Financial Statements
For The Year Ended 28 February 2017
THE SME CLINIC
7 Stratford Place
London
W1C 1AY
Little America Limited
Unaudited Financial Statements
For The Year Ended 28 February 2017
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Statement of Changes in Equity | 3 |
| Notes to the Financial Statements | 4—6 |
Little America Limited
Balance Sheet
As at
28 February 2017
Balance Sheet
Registered number:
09434966
For the year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 28 February 2017 | Period to 28 February 2016 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and loss account |
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| SHAREHOLDERS' FUNDS | 5,714 | (4,661) | |||
Page 1
Little America Limited
Balance Sheet (continued)
As at
28 February 2017
Director's responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The Company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account
On behalf of the board
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The notes on pages 4 to 6 form part of these financial statements.
Page 2
Little America Limited
Statement of Changes in Equity
For The Year Ended 28 February 2017
Statement of Changes in Equity
| Share Capital | Profit & Loss Account | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 11 February 2015 |
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100 |
| Loss for the period and total comprehensive income | - |
( |
(4,761) |
| As at 28 February 2016 and 29 February 2016 |
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( |
(4,661) |
| Profit for the year and total comprehensive income | - |
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10,375 |
| As at |
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5,714 |
Page 3
Little America Limited
Notes to the Unaudited Accounts
For The Year Ended 28 February 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
1.4.
Investment properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
1.5.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
4.
Tangible Assets
| Investment Properties | |
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| £ | |
| Cost | |
| As at |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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5.
Debtors
| 28 February 2017 | Period to 28 February 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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Page 4
Little America Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 28 February 2017
6.
Creditors: Amounts Falling Due Within One Year
| 28 February 2017 | Period to 28 February 2016 | ||
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| VAT |
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| Other creditors |
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| Accruals and deferred income |
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| Director's loan account |
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Other creditors includes £22,425 due to Asmita Hynes, of which £15,000 (2016: £15,000) is non-interest bearing and £7,425 (2016: £Nil) bears interest at an annual rate of 5% on the balance outstanding. Other creditors also includes amounts due to Little America Properties LLP of £12,601 (2016: £17,951). Both Asmita Hynes and Little America Properties LLP are related parties - see note 9).
7.
Creditors: Amounts Falling Due After More Than One Year
| 28 February 2017 | Period to 28 February 2016 | ||
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| £ | £ | ||
| Other creditors |
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Other creditors includes £194,350 (2016: £209,350) due to Asmita Hynes (a related party - see note 9).
9.
Related Party Transactions
Little America Properties LLP
Martin Hynes is a partner in Little America Properties LLP.
During the period ended 29 February 2016, the Company received proceeds of £235,000.00 from an insurance claim on behalf of Little America Properties LLP. After payments made on behalf of Little America Propeties LLP, some of this liability was replaced by a loan from Asmita Hynes (a related party), leaving a balance due to Little America Propeties LLP of £12,601 (2016: £17,951).
Asmita Hynes
Asmita Hynes is a shareholder, related to Martin Hynes and is also a partner in Little America Properties Limited.
Asmita Hynes provided the Company with a non-interest bearing loan of £237,195 during the period ended 29 February 2016. After repayments, a balance of £209,350 (2016: £224,350) remains due to A Hynes. During the year, A Hynes also provided the Company with an interest bearing short-term loan of £9,000 (2016: £Nil) and, after repayments of £1,640 and interest of £65, an mount of £7,425 remains due to her.
10.
Ultimate Controlling Party
The company's ultimate controlling party is Asmita Hynes by virtue of her ownership of 95% of the issued share capital in the company.
Page 5
Little America Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 28 February 2017
11.
General Information
Little America Limited Registered number 09434966 is a limited by shares company incorporated in England & Wales. The Registered Office is 17 Crofters Road, Northwood, Middlesex, HA6 3EB.
Page 6