Lightningfast Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05913504 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2014

for

Lightningfast Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

S A Savides

REGISTERED OFFICE:

30 Barncroft

Barncroft

Farnham

GU9 8RU

REGISTERED NUMBER:

05913504 (England and Wales)

FIXED ASSETS

Intangible assets

2

5,189

5,653

Tangible assets

3

2,970

-

8,159

5,653

CURRENT ASSETS

Stocks

11,620

11,620

Cash at bank

1,589

779

13,209

12,399

CREDITORS

Amounts falling due within one year

108,874

99,603

NET CURRENT LIABILITIES

(95,665

)

(87,204

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(87,506

)

(81,551

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(87,507

)

(81,552

)

SHAREHOLDERS' FUNDS

(87,506

)

(81,551

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2014 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 29 May 2015 and were signed by:

S A Savides - 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).

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

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.

Deferred tax

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

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

and 31 August 2014

9,271

AMORTISATION

At 1 September 2013

3,618

Amortisation for year

464

At 31 August 2014

4,082

NET BOOK VALUE

At 31 August 2014

5,189

At 31 August 2013

5,653

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

1,172

Additions

3,960

At 31 August 2014

5,132

DEPRECIATION

At 1 September 2013

1,172

Charge for year

990

At 31 August 2014

2,162

NET BOOK VALUE

At 31 August 2014

2,970

At 31 August 2013

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.14

31.8.13

value:

£

£

1

Ordinary shares

1

1

1