Nano-lit Technologies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC455717 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

NANO-LIT TECHNOLOGIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms S E C Morgan

P Verberne

SECRETARY:

REGISTERED OFFICE:

5th Floor

125 Princes Street

Edinburgh

EH2 4AD

REGISTERED NUMBER:

SC455717 (Scotland)

ACCOUNTANTS:

Cornerstone Accountants

6th Floor

Gordon Chambers

90 Mitchell Street

Glasgow

Lanarkshire

G1 3NQ

FIXED ASSETS

Intangible assets

4

28,257

21,079

Tangible assets

5

785

1,825

Investments

6

187

187

29,229

23,091

CURRENT ASSETS

Debtors

7

122,549

55,770

Cash at bank

1,242

2,873

123,791

58,643

CREDITORS

Amounts falling due within one year

8

19,888

16,171

NET CURRENT ASSETS

103,903

42,472

TOTAL ASSETS LESS CURRENT LIABILITIES

133,132

65,563

CREDITORS

Amounts falling due after more than one year

9

103,453

-

NET ASSETS

29,679

65,563

CAPITAL AND RESERVES

Called up share capital

10

12

12

Share premium

99,998

99,998

Retained earnings

(70,331

)

(34,447

)

SHAREHOLDERS' FUNDS

29,679

65,563

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 applicable to companies subject to the small companies regime.

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 30 September 2019 and were signed on its behalf by:

Ms S E C Morgan - Director

1.	STATUTORY INFORMATION

Nano-lit Technologies 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 represents the amounts derived from the provision of goods and services which fall within the

company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on despatch of goods.

Patents

Patents will be amortised over their expected useful life from the point that the product has been developed.

Tangible fixed assets

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

Computer equipment

-

33% on a straight line basis

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 3 ).

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2018

21,079

Additions

7,178

At 31 December 2018

28,257

NET BOOK VALUE

At 31 December 2018

28,257

At 31 December 2017

21,079

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2018

and 31 December 2018

4,546

DEPRECIATION

At 1 January 2018

2,721

Charge for year

1,040

At 31 December 2018

3,761

NET BOOK VALUE

At 31 December 2018

785

At 31 December 2017

1,825

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

and 31 December 2018

187

NET BOOK VALUE

At 31 December 2018

187

At 31 December 2017

187

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Nano-Lit Worldwide B.V

Registered office: Holland

Nature of business: Manufacture of electric lighting equipment

%

Class of shares:

holding

Ordinary

100.00

Nano-Lit Technologies (BC) Ltd

Registered office: Canada

Nature of business: Manufacture of electric lighting equipment

%

Class of shares:

holding

Ordinary

100.00

7.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Other debtors

14,564

39,605

Tax

4,427

14,972

VAT

105

1,193

19,096

55,770

Amounts falling due after more than one year:

Other debtors

103,453

-

Aggregate amounts

122,549

55,770

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

5

Trade creditors

3,143

8,766

Other creditors

197

197

Directors' current accounts

10,786

1,206

Accrued expenses

5,762

5,997

19,888

16,171

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

103,453

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

11,562,498

Ordinary

£0.000001

12

12