Company Registration No. SC272733 (Scotland)
LIT SCREENS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
LIT SCREENS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
LIT SCREENS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
28,000
-
Tangible assets
2
2,808
4,057
30,808
4,057
Current assets
Debtors
29,328
24,250
Cash at bank and in hand
52,297
72,461
81,625
96,711
Creditors: amounts falling due within one year
(41,968)
(22,848)
Net current assets
39,657
73,863
Total assets less current liabilities
70,465
77,920
Capital and reserves
Called up share capital
3
3,250
3,250
Share premium account
140,734
140,734
Profit and loss account
(73,519)
(66,064)
Shareholders' funds
70,465
77,920
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 29 September 2016
Mr D M Macleod
Director
Company Registration No. SC272733
LIT SCREENS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.
1.4
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery
25% on cost
Computer equipment
33% on cost
Fixtures, fittings & equipment
33% on cost
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2015
97,723
69,511
167,234
Additions
28,000
969
28,969
At 31 December 2015
125,723
70,480
196,203
Depreciation
At 1 January 2015
97,723
65,454
163,177
Charge for the year
-
2,218
2,218
At 31 December 2015
97,723
67,672
165,395
Net book value
At 31 December 2015
28,000
2,808
30,808
At 31 December 2014
-
4,057
4,057
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
3,250 Ordinary of £1 each
3,250
3,250
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