LIRIO TRADING LTD
REGISTERED NUMBER:
09390266
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
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Creditors:
amounts falling due within one year
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Total assets less current liabilities
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The director considers that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act")
and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 January 2016 and of its loss for the period in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on
31 December 2016
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The notes on pages 2 to 3 form part of these financial statements.
Page 1
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LIRIO TRADING LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 JANUARY 2016
1.
Accounting policies
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Basis of preparation of financial statements
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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 January 2015)
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The company ceased to trade after the year end. In the opinion of the director, the company is not a going concern and these financial statements have been prepared on a cessation basis.
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.
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Rentals under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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2.
Share capital
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Allotted, called up and fully paid
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100
Ordinary shares
shares of £
1
each
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During the year 100 ordinary shares of £1 each, with an aggregate nominal value of £100 were issued at par.
Page 2
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LIRIO TRADING LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 JANUARY 2016
3.
Related party transactions
During the year, the director and shareholders provided finance to the company. At the year end the director, Dr V M Lelkes, was owed £12,241 by the company, and the shareholders R M Pantilimon and K Czirjek were owed £2,830 and £1,988 respectively.
Page 3
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