Low Carbon Innovations Limited - Period Ending 2015-02-28

 
 
 
 
 
 
 
  Low Carbon Innovations Limited
 
  Unaudited Abbreviated Accounts
  Period from 18 November 2013 to 28 February 2015

 
  Company Registration Number: 08778713

Low Carbon Innovations Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Low Carbon Innovations Limited
Abbreviated Balance Sheet
28 February 2015

		Note			28 February 2015 £
Fixed assets
Tangible fixed assets		2			249
Current assets
Stocks					7,533
Debtors					12,664
Cash at bank and in hand					12,520
					32,717
Creditors: Amounts falling due within one year					(22,730)
Net current assets					9,987
Total assets less current liabilities					10,236
Creditors: Amounts falling due after more than one year					(10,000)
Net assets					236
Capital and reserves
Called up share capital		3			100
Profit and loss account					136
Shareholders' funds					236

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Low Carbon Innovations Limited
Abbreviated Balance Sheet
28 February 2015 ......... continued

For the year ending 28 February 2015 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 .

Approved by the Board on 12 August 2015 and signed on its behalf by:

Mr P P Donoghue
Director

Company Registration Number: 08778713

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

Low Carbon Innovations Limited
Notes to the Abbreviated Accounts
Period from 18 November 2013 to 28 February 2015 ......... 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).

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. This depends on the continued financial support of the company's directors (and bankers).

Turnover

Turnover represents amounts chargeable, net of value added tax, 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
Equipment	25% reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		332			332
At 28 February 2015		332			332
Depreciation
Charge for the period		83			83
At 28 February 2015		83			83
Net book value
At 28 February 2015		249			249

Page 3

Low Carbon Innovations Limited
Notes to the Abbreviated Accounts
Period from 18 November 2013 to 28 February 2015 ......... continued

3	Share capital

Allotted, called up and fully paid shares

	28 February 2015
		No.			£
Ordinary shares of £1 each		100			100

New shares allotted

During the period 100 Ordinary shares having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1.

4	Related party transactions

Directors' advances and credits

	18 November 2013 to 28 February 2015 Advance/ Credit £	18 November 2013 to 28 February 2015 Repaid £
Mr C R Tyson
Total drawings and advances for the period	8,430	5,577
Mr I Packenas
Total drawings and advances for the period	10,801	8,097

5

Control

The immediate parent company is Low Carbon Innovations (Holdings) Limited .
 

Page 4