LB Electrical Contractors Ltd - Period Ending 2015-09-30

Registration number: 7368813

LB Electrical Contractors Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

David Lissimore ACMA CGMA
AIMS Accountants for Business
Oakswood
Wingfield Road
Oakerthorpe
Alfreton
DE55 7LH

LB Electrical Contractors 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.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
LB Electrical Contractors Ltd
for the Year Ended 30 September 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LB Electrical Contractors Ltd for the year ended 30 September 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a member firm of the Chartered Institute of Management Accountants (CIMA), we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of LB Electrical Contractors 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 LB Electrical Contractors Ltd and state those matters that we have agreed to state to them. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LB Electrical Contractors Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that LB Electrical Contractors 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 LB Electrical Contractors Ltd. You consider that LB Electrical Contractors 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 LB Electrical Contractors 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.

 
  ......................................
 
  David Lissimore ACMA CGMA
  AIMS Accountants for Business
  Oakswood
  Wingfield Road
  Oakerthorpe
  Alfreton
  DE55 7LH

9 February 2016

Page 1

LB Electrical Contractors Ltd
(Registration number: 7368813)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					11,372			6,634
Current assets
Stocks					4,842			4,400
Debtors					27,866			57,941
Cash at bank and in hand					17,360			9,391
					50,068			71,732
Creditors: Amounts falling due within one year					(37,440)			(39,643)
Net current assets					12,628			32,089
Net assets					24,000			38,723
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					23,999			38,722
Shareholders' funds					24,000			38,723

For the year ending 30 September 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 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 31 March 2016

.........................................
L Burgess
Director

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

LB Electrical Contractors Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 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).

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
Plant and machinery	25% reducing balance
Buildings	4% straight line
Office equipment	25% reducing balance
Motor vehicles	20% straight line basis

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.

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.

Page 3

LB Electrical Contractors Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		9,830			9,830
Additions		6,903			6,903
At 30 September 2015		16,733			16,733
Depreciation
At 1 October 2014		3,196			3,196
Charge for the year		2,165			2,165
At 30 September 2015		5,361			5,361
Net book value
At 30 September 2015		11,372			11,372
At 30 September 2014		6,634			6,634

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

Page 4