Light Initiative Limited - Accounts to registrar (filleted) - small 17.3
Light Initiative Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 July 2017 |
| for |
| Light Initiative Limited |
| Light Initiative Limited (Registered number: 07719496) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Light Initiative Limited |
| Company Information |
| for the Year Ended 31 July 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 28 Church Road |
| Stanmore |
| Middlesex |
| HA7 4XR |
| Light Initiative Limited (Registered number: 07719496) |
| Balance Sheet |
| 31 July 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| Light Initiative Limited (Registered number: 07719496) |
| Balance Sheet - continued |
| 31 July 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| Light Initiative Limited (Registered number: 07719496) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2017 |
| 1. | STATUTORY INFORMATION |
| Light Initiative Limited is a |
| 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 for the year ended 31 July 2017 are the first financial statements of the |
| company that comply with FRS 102. The date of transition is 1 August 2016. No differences to the |
| reported financial position and income statement for the previous period were noted as a result of the |
| transition to FRS 102. |
| The principal accounting policies adopted in the preparation of the financial statements are set out |
| below and have remained unchanged from the previous year/period, and also have been consistently |
| applied within the same accounts. |
| Turnover |
| Turnover represents the net invoiced hire of equipment, net of value added tax. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Items of plant and machinery are stated at cost less accumulated depreciation. Costs include |
| expenditure that is directly attributable to the acquisition and manufacture of the asset and related |
| parts, to include an apportionment of labour costs where applicable.Hire equipment assets are |
| depreciated to write them down to their residual value over their normal working lives which ranges |
| from between three to five years depending on the category of the asset. |
| Investments in associates |
| Investments in associate undertakings are recognised at cost. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| 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. |
| Light Initiative Limited (Registered number: 07719496) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Short | Plant and | Computer |
| leasehold | machinery | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 August 2016 |
| Additions |
| At 31 July 2017 |
| DEPRECIATION |
| At 1 August 2016 |
| Charge for year |
| At 31 July 2017 |
| NET BOOK VALUE |
| At 31 July 2017 |
| At 31 July 2016 |
| 5. | FIXED ASSET INVESTMENTS |
| Interest |
| in |
| associate |
| £ |
| COST |
| Additions |
| At 31 July 2017 |
| NET BOOK VALUE |
| At 31 July 2017 |
| Light Initiative Limited (Registered number: 07719496) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | - | 10,000 |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | 73,067 | 75,600 |
| Other creditors |
| Accruals and deferred income |
| 8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 July 2017 and |
| 31 July 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 9. | ULTIMATE CONTROLLING PARTY |
| The controlling party is B Williams. |