Abbreviated Company Accounts - LIGHTSAVE LIMITED
Abbreviated Company Accounts - LIGHTSAVE LIMITED
Registered Number 03905665
LIGHTSAVE LIMITED
Abbreviated Accounts
31 January 2016
LIGHTSAVE LIMITED Registered Number 03905665
Abbreviated Balance Sheet as at 31 January 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 4 |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 4 |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 5 |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 31 January 2016 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
And signed on their behalf by:
LIGHTSAVE LIMITED Registered Number 03905665
Notes to the Abbreviated Accounts for the period ended 31 January 2016
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Office equipment - 25% per annum on net book value
Fixtures and fittings - 25% per annum on net book value
Motor vehicles - 25% per annum on net book value
Intangible assets amortisation policy
Other accounting policies
Stock 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.
Hire purchase
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.
Pensions
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
£ | |
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Cost | |
At 1 February 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 January 2016 |
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Amortisation | |
At 1 February 2015 |
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Charge for the year |
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On disposals |
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At 31 January 2016 |
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Net book values | |
At 31 January 2016 | 0 |
At 31 January 2015 | 0 |
£ | |
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Cost | |
At 1 February 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 January 2016 |
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Depreciation | |
At 1 February 2015 |
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Charge for the year |
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On disposals |
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At 31 January 2016 |
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Net book values | |
At 31 January 2016 | 20,463 |
At 31 January 2015 | 10,937 |
2016
£ |
2015
£ |
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Secured Debts |
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6Transactions with directors
Name of director receiving advance or credit: | ||
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Description of the transaction: | ||
Balance at 1 February 2015: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 31 January 2016: | £ |
Name of director receiving advance or credit: | ||
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Description of the transaction: | ||
Balance at 1 February 2015: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 31 January 2016: | £ |