Lime Electrical Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC516740 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Lime Electrical Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Fyfe

A Halleran

REGISTERED OFFICE:

1 Dryden Road

Unit 4

Loanhead

EH20 9LZ

REGISTERED NUMBER:

SC516740 (Scotland)

ACCOUNTANTS:

J S Accounting Services Limited

13-15 Morningside Drive

EDINBURGH

EH10 5LZ

FIXED ASSETS

Tangible assets

4

110,491

39,959

CURRENT ASSETS

Debtors

5

72,525

48,226

Cash at bank

29,605

12,635

102,130

60,861

CREDITORS

Amounts falling due within one year

6

137,438

100,456

NET CURRENT LIABILITIES

(35,308

)

(39,595

)

TOTAL ASSETS LESS CURRENT LIABILITIES

75,183

364

CREDITORS

Amounts falling due after more than one year

7

55,583

-

NET ASSETS

19,600

364

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

19,400

164

SHAREHOLDERS' FUNDS

19,600

364

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 25 September 2019 and were signed on its behalf by:

A Halleran - Director

1.	STATUTORY INFORMATION

Lime Electrical Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance and 15% on reducing balance

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

51,308

Additions

78,120

At 31 December 2018

129,428

DEPRECIATION

At 1 January 2018

11,349

Charge for year

7,588

At 31 December 2018

18,937

NET BOOK VALUE

At 31 December 2018

110,491

At 31 December 2017

39,959

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

69,967

48,226

Other debtors

2,558

-

72,525

48,226

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

12,324

-

Trade creditors

46,317

54,960

Taxation and social security

39,098

21,817

Other creditors

39,699

23,679

137,438

100,456

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

55,583

-

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr Halleran and Mr Fyfe paid expenses on behalf of the company of £900 (2017: £2,304) and £900 (2017:£370)

respectively. At 31 December 2018 the company was due them £21,203 (2017:£17,009 ) and £3,170 (2017:

£3,170 ) respectively.

Dividends of £21,100(2017:£22,179) and £21,100 (2017: £23,315) were paid to Mr Halleran and Mr Fyfe

respectively.