Nano-lit Technologies Limited - Accounts to registrar - small 17.2

Nano-lit Technologies Limited - Accounts to registrar - small 17.2

NANO-LIT TECHNOLOGIES LIMITED - Company Information

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REGISTERED NUMBER: SC455717 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

NANO-LIT TECHNOLOGIES LIMITED

NANO-LIT TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC455717)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NANO-LIT TECHNOLOGIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTORS: Ms S E C Morgan
P Verberne





REGISTERED OFFICE: 5th Floor
125 Princes Street
Edinburgh
EH2 4AD





REGISTERED NUMBER: SC455717 (Scotland)





ACCOUNTANTS: Henderson Loggie
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ
Page 1
NANO-LIT TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC455717)

BALANCE SHEET
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,346 -
Tangible assets 5 2,780 961
Investments 6 10 -
17,136 961

CURRENT ASSETS
Debtors 7 68,651 47,351
Cash at bank 40,467 120,380
109,118 167,731
CREDITORS
Amounts falling due within one year 8 20,599 36,231
NET CURRENT ASSETS 88,519 131,500
TOTAL ASSETS LESS CURRENT
LIABILITIES
105,655
132,461

CAPITAL AND RESERVES
Called up share capital 9 12 12
Share premium 99,998 99,998
Retained earnings 5,645 32,451
SHAREHOLDERS' FUNDS 105,655 132,461

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 notes form part of these financial statements

Page 2 continued...
NANO-LIT TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC455717)

BALANCE SHEET - continued
31 DECEMBER 2016


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 29 September 2017 and were signed on its behalf
by:





Ms S E C Morgan - Director


The notes form part of these financial statements

Page 3
NANO-LIT TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC455717)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 3 .

Page 4 continued...
NANO-LIT TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC455717)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 14,346
At 31 December 2016 14,346
NET BOOK VALUE
At 31 December 2016 14,346

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2016 1,434
Additions 2,582
At 31 December 2016 4,016
DEPRECIATION
At 1 January 2016 473
Charge for year 763
At 31 December 2016 1,236
NET BOOK VALUE
At 31 December 2016 2,780
At 31 December 2015 961

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 10
At 31 December 2016 10
NET BOOK VALUE
At 31 December 2016 10

Page 5 continued...
NANO-LIT TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC455717)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 56,958 34,841
Other debtors 8,444 12,510
Tax 7 -
VAT 3,242 -
68,651 47,351

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade creditors 11,933 8,167
Tax - 5,000
Social security and other taxes 4,059 1,991
VAT - 282
Other creditors 318 10
Directors' current accounts 1,787 2,145
Deferred income - 13,856
Accrued expenses 2,502 4,780
20,599 36,231

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
11,562,498 Ordinary £0.000001 12 12

10. FIRST YEAR ADOPTION

The financial statements of Nano-Lit Technologies Limited for the year ended 31 December 2016 are the first
financial statements prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the
UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2014. The reported financial
position and financial performance for the previous period have not required any adjustments by the transition to
FRS 102.


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