Registered number
04971139
Loophouse Limited
Abbreviated Accounts for the period ended
14 March 2016
Loophouse Limited
Registered number: 04971139
Abbreviated Balance Sheet
as at 14 March 2016
Notes 2016 2014
£ £
Fixed assets
Tangible assets 2 - 5,882
Current assets
Stocks - 14,246
Debtors 23,050 203,951
Cash at bank and in hand 493,664 273,786
516,714 491,983
Creditors: amounts falling due within one year (44,295) (109,580)
Net current assets 472,419 382,403
Total assets less current liabilities 472,419 388,285
Creditors: amounts falling due after more than one year - (220)
Net assets 472,419 388,065
Capital and reserves
Called up share capital 3 1 1
Profit and loss account 472,418 388,064
Shareholder's funds 472,419 388,065
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit 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 the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
L Statham
Director
Approved by the board on 23 March 2016
Loophouse Limited
Notes to the Abbreviated Accounts
for the period ended 14 March 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 15% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
2 Tangible fixed assets £
Cost
At 1 December 2014 13,010
Disposals (13,010)
At 14 March 2016 -
Depreciation
At 1 December 2014 7,128
Charge for the period 1,176
On disposals (8,304)
At 14 March 2016 -
Net book value
At 14 March 2016 -
At 30 November 2014 5,882
3 Share capital Nominal 2016 2016 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 1 1 1
Loophouse Limited 04971139 false true 2014-12-01 2016-03-14 2016-03-14 L Statham 04971139 uk-bus:OrdinaryShareClass1 2014-11-30 04971139 2014-12-01 2016-03-14 04971139 uk-bus:Director40 2014-12-01 2016-03-14 04971139 uk-gaap:PlantMachinery 2014-12-01 2016-03-14 04971139 uk-bus:OrdinaryShareClass1 2014-12-01 2016-03-14 04971139 2016-03-14 04971139 uk-bus:OrdinaryShareClass1 2016-03-14 04971139 2014-11-30 iso4217:GBP xbrli:shares

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