Company Registration No. 05829469 (England and Wales)
LULLABY INC LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
LULLABY INC LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
LULLABY INC LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
63,416
54,910
Current assets
Stocks
15,697
11,430
Debtors
27,258
22,055
Cash at bank and in hand
143,092
135,531
186,047
169,016
Creditors: amounts falling due within one year
(67,832)
(67,211)
Net current assets
118,215
101,805
Total assets less current liabilities
181,631
156,715
Creditors: amounts falling due after more than one year
(35,792)
(38,059)
Provisions for liabilities
(4,202)
(4,856)
141,637
113,800
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss account
140,637
112,800
Shareholders' funds
141,637
113,800
LULLABY INC LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2014
31 December 2014
- 2 -
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 21 September 2015
K Gregory
Director
Company Registration No. 05829469
LULLABY INC LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
1
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).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT 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 less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
15 years straight line
Office equipment
20% reducing balance
Fixtures, fittings & equipment
20% reducing balance
1.4
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.7
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
LULLABY INC LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2014
98,629
Additions
15,815
At 31 December 2014
114,444
Depreciation
At 1 January 2014
43,719
Charge for the year
7,309
At 31 December 2014
51,028
Net book value
At 31 December 2014
63,416
At 31 December 2013
54,910
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1,000 Ordinary of £1 each
1,000
1,000
4
Transactions with directors
Included within other debtors is an amount of £
6,328
(201
3
: £
2,648
) due from LC Gregory, a director of the company.