Lighthouse Independent Financial Advisers (Devon) Ltd - Period Ending 2013-12-31

Registration number: 04014990

Lighthouse Independent Financial Advisers (Devon) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

Vincent & Co Accountants Limited
37 Shiphay Lane
Torquay
Torquay
Devon
TQ2 7DU

Lighthouse Independent Financial Advisers (Devon) Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Lighthouse Independent Financial Advisers (Devon) Ltd
for the Year Ended 31 December 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lighthouse Independent Financial Advisers (Devon) Ltd for the year ended 31 December 2013 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Lighthouse Independent Financial Advisers (Devon) Ltd, as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of Lighthouse Independent Financial Advisers (Devon) Ltd and state those matters that we have agreed to state to them, 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 Lighthouse Independent Financial Advisers (Devon) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lighthouse Independent Financial Advisers (Devon) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lighthouse Independent Financial Advisers (Devon) Ltd. You consider that Lighthouse Independent Financial Advisers (Devon) Ltd 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 accounts of Lighthouse Independent Financial Advisers (Devon) Ltd. 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 accounts.

......................................

Vincent & Co Accountants Limited
37 Shiphay Lane
Torquay
Torquay
Devon
TQ2 7DU

15 July 2014

Page 1

Lighthouse Independent Financial Advisers (Devon) Ltd
(Registration number: 04014990)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets					6,960			6,960
Current assets
Debtors					299,071			299,554
Cash at bank and in hand					39,428			39,426
					338,499			338,980
Creditors: Amounts falling due within one year					(390,687)			(435,353)
Net current liabilities					(52,188)			(96,373)
Total assets less current liabilities					(45,228)			(89,413)
Creditors: Amounts falling due after more than one year					-			29,492
Net liabilities					(45,228)			(59,921)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(45,328)			(60,021)
Shareholders' deficit					(45,228)			(59,921)

For the year ending 31 December 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 15 July 2014

.........................................
Mr Adel Yousiff Salman
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Lighthouse Independent Financial Advisers (Devon) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	No charge
Office equipment	No charge

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Lighthouse Independent Financial Advisers (Devon) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2013		17,268			17,268
At 31 December 2013		17,268			17,268
Depreciation
At 1 January 2013		10,308			10,308
At 31 December 2013		10,308			10,308
Net book value
At 31 December 2013		6,960			6,960
At 31 December 2012		6,960			6,960

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4