Clearvision Lighting Limited - Period Ending 2014-06-30

Registration number: 03042492

Clearvision Lighting Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Clearvision Lighting Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Registration number: 03042492

Clearvision Lighting Limited
Balance Sheet as at 30 June 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			16,666			25,339
Current assets
Stocks					343,597			425,825
Debtors					1,347,030			1,310,093
Cash at bank and in hand					16,519			6,091
					1,707,146			1,742,009
Creditors: Amounts falling due within one year		3			(1,003,791)			(993,883)
Net current assets					703,355			748,126
Total assets less current liabilities					720,021			773,465
Creditors: Amounts falling due after more than one year		3			(4,387)			(14,713)
Net assets					715,634			758,752
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					715,632			758,750
Shareholders' funds					715,634			758,752

For the year ended 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 31 March 2015 and signed on its behalf by:

P F Stephenson
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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Clearvision Lighting Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

1	Accounting policies

Basis of preparation

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 April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents the manufacture and sales of LED and conventional lighting products to customers, excluding value added tax.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Leasehold improvements	25% on cost on a straight line basis
Equipment, fixtures and fittings	at individual rates up to 33.3% on a straight line basis
Plant and machinery	20% on cost on a straight line basis

Stock

Stock and work in progress is valued at the lower of cost and estimated net realisable value. Cost of raw materials is determined on the first in first out basis. In the case of work in progress and finished goods, cost includes all direct expenditure and production overheads based on the normal level of activity. Net realisable value is the price at which the stock can be realised in the normal course of business, less further costs to completion of sale.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account in the period to which they relate.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2013		190,004			190,004
Additions		2,834			2,834
At 30 June 2014		192,838			192,838
Depreciation
At 1 July 2013		164,665			164,665
Charge for the year		11,507			11,507
At 30 June 2014		176,172			176,172
Net book value
At 30 June 2014		16,666			16,666
At 30 June 2013		25,339			25,339

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Clearvision Lighting Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		332,491			347,757
Amounts falling due after more than one year		-			10,326
Total secured creditors		332,491			358,083

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

5

Control

The parent company of Clearvision Lighting Limited is Clearvision International Limited, a company registered in England and Wales. No Individual has ultimate controlling interest in the parent company
.

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