Lugis Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08086583 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2014

FOR

LUGIS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

4

DIRECTORS:

A Thrasyvoulou

B J Singh

M A Tzirki

REGISTERED OFFICE:

573 Chester Road

Sutton Coldfield

West Midlands

B73 5HU

REGISTERED NUMBER:

08086583 (England and Wales)

ACCOUNTANTS:

A K Papadamou & Co

Chartered Accountants

573 Chester Road

Sutton Coldfield

West Midlands

B73 5HU

BANKERS:

Lloyds

2 George Row

Northampton

Northamptonshire

NN1 1DJ

FIXED ASSETS

Tangible assets

2

82,098

-

CURRENT ASSETS

Stocks

983

-

Debtors

25,346

100

Cash in hand

60

-

26,389

100

CREDITORS

Amounts falling due within one year

125,316

-

NET CURRENT (LIABILITIES)/ASSETS

(98,927

)

100

TOTAL ASSETS LESS CURRENT LIABILITIES

(16,829

)

100

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(16,929

)

-

SHAREHOLDERS' FUNDS

(16,829

)

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 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 27 February 2015 and were signed on its behalf by:

A Thrasyvoulou - 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 April 2008).

Turnover

Turnover represents sales of goods and services provided, excluding Value Added Tax. These are recognised at

the point of delivery 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.

Stocks

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

moving items.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

97,508

At 31 May 2014

97,508

DEPRECIATION

Charge for year

15,410

At 31 May 2014

15,410

NET BOOK VALUE

At 31 May 2014

82,098

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to three)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Lugis Limited for the year ended 31 May 2014 which comprise the Profit and Loss Account, the

Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Lugis Limited, as a body, in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lugis Limited

and state those matters that we have agreed to state to the Board of Directors of Lugis Limited, as a body, in this report

in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not

accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or

for this report.

It is your duty to ensure that Lugis Limited has kept adequate accounting records and to prepare statutory financial

statements that give a true and fair view of the assets, liabilities, financial position and loss of Lugis Limited. You

consider that Lugis Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lugis Limited. For this

reason, we have not verified the accuracy or completeness of the accounting records or information and explanations

you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

A K Papadamou & Co

Chartered Accountants

573 Chester Road

Sutton Coldfield

West Midlands

B73 5HU

27 February 2015