Lighting Centre Limited Filleted accounts for Companies House (small and micro)

LIGHTING CENTRE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08342595

Lighting Centre Limited

Filleted Unaudited Abridged Financial Statements

31 December 2018

Lighting Centre Limited

Abridged Financial Statements

Year Ended 31 December 2018

Contents	Pages

Abridged statement of financial position	1 to 2

Notes to the abridged financial statements	3 to 5

Lighting Centre Limited

Abridged Statement of Financial Position

31 December 2018

	2018	2017
Note	£	£

Fixed Assets

Tangible assets	5	2,283	2,744

Current Assets

Stocks	–	1,000
Debtors	4,521	2,646
Cash at bank and in hand	2	285
	-------	-------
	4,523	3,931

Creditors: amounts falling due within one year	107,960	108,450
	---------	---------
Net Current Liabilities	103,437	104,519
	---------	---------
Total Assets Less Current Liabilities	( 101,154)	( 101,775)
	---------	---------
Net Liabilities	( 101,154)	( 101,775)
	---------	---------

Lighting Centre Limited

Abridged Statement of Financial Position (continued)

31 December 2018

	2018	2017
Note	£	£

Capital and Reserves

Called up share capital	6	100	100
Profit and loss account		( 101,254)	( 101,875)
		---------	---------
Shareholders Deficit		( 101,154)	( 101,775)
		---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 11 September 2019 , and are signed on behalf of the board by:

Mr R E Lee

Director

Company registration number: 08342595

Lighting Centre Limited

Notes to the Abridged Financial Statements

Year Ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office and place of business is The Old Substation, Ramcroft, Palterton, Chesterfield, S44 6UZ.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. All of the members have consented to the preparation of abridged accounts in accordance with Section 444(2A) of the Companies Act 2006. Going Concern The directors undertake to supply funds to ensure that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Revenue recognition

Turnover in the accounts represents amounts received for goods and services net of VAT and trade discounts.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax cognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods . Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Straight line over 5 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant & Machinery	-	20% reducing balance

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Intangible assets

	£
Cost
At 1 January 2018 and 31 December 2018	27,500
	--------
Amortisation
At 1 January 2018 and 31 December 2018	27,500
	--------
Carrying amount
At 31 December 2018	–
	--------
At 31 December 2017	–
	--------

5. Tangible assets

	£
Cost
At 1 January 2018	8,191
Additions	110
	-------
At 31 December 2018	8,301
	-------
Depreciation
At 1 January 2018	5,447
Charge for the year	571
	-------
At 31 December 2018	6,018
	-------
Carrying amount
At 31 December 2018	2,283
	-------
At 31 December 2017	2,744
	-------

6. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100.00	100	100.00
	----	--------	----	--------