LIMITEAR LTD Accounts filed on 30-09-2014

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LIMITEAR LTD

Company Registration Number:
06849403 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01st October 2013

End date: 30th September 2014

SUBMITTED

Company Information
for the Period Ended 30th September 2014

Director:		S Ambridge
		S Blincoe
		F Cahill
		R Glover
		S Wheatley
		R Wirszycz



Company secretary:		S Wheatley



Registered office:		Boundary House Boston Road


		London

		W7 2QE




Company Registration Number:		06849403 (England and Wales)

Abbreviated Balance sheet
As at 30th September 2014

	Notes	2014 £	2013 £
Fixed assets
Tangible assets:	4	5,933	8,966
Total fixed assets:		5,933	8,966
Current assets
Stocks:		6,218	3,996
Debtors:	5	21,694	22,323
Cash at bank and in hand:		24,728	67,197
Total current assets:		52,640	93,516
Creditors
Creditors: amounts falling due within one year	6	83,256	62,433
Net current assets (liabilities):		( 30,616 )	31,083
Total assets less current liabilities:		( 24,683 )	40,049
Total net assets (liabilities):		( 24,683 )	40,049

The notes form part of these financial statements

Abbreviated Balance sheet
As at 30th September 2014
continued

	Notes	2014 £	2013 £
Capital and reserves
Called up share capital:	7	3,120	2,898
Revaluation reserve:		568,094	443,317
Profit and Loss account:		( 595,897 )	( 406,166 )
Total shareholders funds:		( 24,683 )	40,049

For the year ending 30 September 2014 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 directors acknowledge their 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 29 June 2015

SIGNED ON BEHALF OF THE BOARD BY:

Name: R Glover
Status: Director
Name: S Wheatley
Status: Director

The notes form part of these financial statements

Notes to the Abbreviated Accounts
for the Period Ended 30th September 2014

1. Accounting policies

Basis of measurement and preparation of accounts

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). Going concern The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on shareholders' funds at the end of the year. The directors consider this basis to be appropriate as the company has received a guarantee from the shareholders that the sufficient facilities will be available to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.

Turnover policy

Turnover represents the invoiced amount of goods sold during the year, net of Value Added Tax.

Tangible fixed assets depreciation policy

Depreciation is provided to write off the cost less estimated residual values of all fixed assets over their expected useful lives, at the following annual rates: Office Equipment 25% on written down value

Other accounting policies

Stocks and work in progress Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present condition and location. Deferred taxation Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Research and development Expenditure on Research and Development is charged against income in the year in which it is incurred. Financial instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contact that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Notes to the Abbreviated Accounts
for the Period Ended 30th September 2014

4. Tangible assets

	Total
Cost	£
At 01st October 2013:	13,286
At 30th September 2014:	13,286
Depreciation
At 01st October 2013:	4,320
Charge for year:	3,033
At 30th September 2014:	7,353
Net book value
At 30th September 2014:	5,933
At 30th September 2013:	8,966

Notes to the Abbreviated Accounts
for the Period Ended 30th September 2014

5. Debtors

	2014 £	2013 £
Trade debtors:	9,953	13,768
Other debtors:	2	2,544
Prepayments and accrued income:	11,739	6,011
Total:	21,694	22,323

Notes to the Abbreviated Accounts
for the Period Ended 30th September 2014

6. Creditors: amounts falling due within one year

	2014 £	2013 £
Trade creditors:	61,691	17,218
Taxation and social security:	446	0
Accruals and deferred income:	19,565	45,215
Other creditors:	1,554	0
Total:	83,256	62,433

Notes to the Abbreviated Accounts
for the Period Ended 30th September 2014

7. Called up share capital

Allotted, called up and paid

Previous period			2013
Class	Number of shares	Nominal value per share	Total
Ordinary shares:	289,757	0.01 0.01	2,898
Total share capital:			2,898

Current period			2014
Class	Number of shares	Nominal value per share	Total
Ordinary shares:	312,038	0.01 0.01	3,120
Total share capital:			3,120

On 11th November 2013, the company issued 22,281 fully paid up Ordinary E shares at a premium of 5.60 per share over and above the par value of £0.01 each.

Notes to the Abbreviated Accounts
for the Period Ended 30th September 2014

10. Related party disclosures

Name of related party:	SB Sound Services
Relationship:	S Blincoe - Partner
Description of the transaction:	Sales
Balance at 01st October 2013	2,529
Balance at 30th September 2014	0
Name of related party:	Bilko Enterprises
Relationship:	S Blincoe - Proprietor
Description of the transaction:	Fees and rechargeable expenses
Balance at 01st October 2013	2,036
Balance at 30th September 2014	1,800
Name of related party:	PBDC Limited
Relationship:	S Wheatley - Director
Description of the transaction:	Fees and rechargeable expenses
Balance at 01st October 2013	0
Balance at 30th September 2014	6,339
Name of related party:	RGC Technical
Relationship:	R Glover - Proprietor
Description of the transaction:	Fees, office services and rechargeable expenses
Balance at 01st October 2013	0
Balance at 30th September 2014	6,000
Name of related party:	The ERA Foundation
Relationship:	F Cahill - material interest
Description of the transaction:	Fees
Balance at 01st October 2013	4,125
Balance at 30th September 2014	9,900

All of these transactions were on the same commercial arms' length basis as all other transactions undertaken by the company.

LIMITEAR LTD Accounts filed on 30-09-2014