LIVOS_ENERGY_LIMITED - Accounts

LIVOS ENERGY LTD - Company Information

Print Friendly Version

Company Registration No. 07597720 (England and Wales)

LIVOS ENERGY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2014

LIVOS ENERGY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

LIVOS ENERGY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

47,365

33,714

Current assets

Stocks

260,533

265,700

Debtors

228,393

30,290

Cash at bank and in hand

763,978

150,760

1,252,904

446,750

Creditors: amounts falling due within one year

(382,217)

(33,194)

Net current assets

870,687

413,556

Total assets less current liabilities

918,052

447,270

Creditors: amounts falling due after more than one year

(832,274)

(841,613)

85,778

(394,343)

Capital and reserves

Called up share capital

500,100

500,001

Profit and loss account

(414,322)

(894,344)

Shareholders' funds

85,778

(394,343)

For the financial year ended 30 June 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 22 July 2015

J Madigan

Director

Company Registration No. 07597720

LIVOS ENERGY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents the value of work completed during the year net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

20% Straight line

Motor vehicles

25% Reducing balance

1.5

Stock and work in progress

Work in progress is valued at the lower of cost and net realisable value.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 July 2013

46,988

Additions

28,667

At 30 June 2014

75,655

Depreciation

At 1 July 2013

13,274

Charge for the year

15,016

At 30 June 2014

28,290

Net book value

At 30 June 2014

47,365

At 30 June 2013

33,714

LIVOS ENERGY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

500,000 Preference shares of £1 each

500,000

500,100

500,001

During the year 99 Ordinary shares were issued at par.