REGISTERED NUMBER: SC496061 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 FEBRUARY 2015 TO 31 MARCH 2016

FOR

LIME GLASGOW LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

B Hegarty

P Hislop

R Cook

REGISTERED OFFICE:

c/o Consilium Chartered Accountants

169 West George Street

Glasgow

G2 2LB

REGISTERED NUMBER:

SC496061 (Scotland)

ACCOUNTANTS:

Consilium Chartered Accountants

169 West George Street

Glasgow

G2 2LB

FIXED ASSETS

Tangible assets

2

94,461

CURRENT ASSETS

Stocks

24,500

Debtors

86,690

Cash at bank and in hand

33,296

144,486

CREDITORS

Amounts falling due within one year

232,046

NET CURRENT LIABILITIES

(87,560

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,901

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

6,801

SHAREHOLDERS' FUNDS

6,901

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2016.

The members have not required the Company to obtain an audit of its financial statements for the period ended 31 March 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 January 2017 and were signed on its behalf by:

B Hegarty - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2015).

Exemption from preparing a cash flow statement

The Company has adopted the Financial Reporting Standard for Smaller Entities (effective January 2015) and is

consequently exempt from the requirement to include a cash flow statement in the financial statements.

Turnover

The turnover shown in the profit and loss account represents the value of all goods sold during the period at selling price

exclusive of Value Added Tax. Sales are recognised at the point of sale to the customer.

Tangible fixed assets

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

Improvements to property

-

10% straight line

Fixtures and fittings

-

25% reducing balance

Computer equipment

-

25% reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs

of acquisition.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Cost is calculated using the first-in first-out method and includes the normal cost of transporting stock to its present

location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date where transactions or events have occurred at that date that will result in an obligation to pay more tax, or a right to

pay less tax, or a right to receive repayments of tax.

Deferred tax assets are recognised only to the extent that the directors consider it more likely than not that there will be

suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax

assets and liabilities recognised have not been discounted.

Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments,

according to the substance of the contractual arrangement.

Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at

principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the

outstanding balance and are amortised over the period to the due date for repayment of the financial liability.

An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of

its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated

financial instrument.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

101,896

At 31 March 2016

101,896

DEPRECIATION

Charge for period

7,435

At 31 March 2016

7,435

NET BOOK VALUE

At 31 March 2016

94,461

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

70

A Ordinary

£1

70

30

B Ordinary

£1

30

100

The following shares were allotted and fully paid for cash at par during the period:

70 A Ordinary shares of £1 each

30 B Ordinary shares of £1 each

Both classes of shares rank parri passu in all respects. However when paying dividends the directors may differentiate

between the classes of share to which payment is being made in respect of the amount or percentage of dividend payable.

4.	ULTIMATE PARENT COMPANY

Saint Judes Entertainment Limited is regarded by the directors as being the Company's ultimate parent company.