LHS Commercials Limited - Period Ending 2016-04-30

LHS COMMERCIALS LIMITED - Company Information

Registration number: 07215824

LHS Commercials Limited

trading as LHS Commercials

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016

Exactax Limited
Chartered Certified Accountants and Chartered Tax Advisers
Cromwell House
Mill Street
Cannock
Staffs
WS11 0DP

LHS Commercials Limited

trading as LHS Commercials

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2 to 3
Notes to the Abbreviated Accounts	4 to 5

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 5) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
LHS Commercials Limited

trading as LHS Commercials
for the Year Ended 30 April 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LHS Commercials Limited for the year ended 30 April 2016 set out on pages XX from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of LHS Commercials Limited, 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 LHS Commercials Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LHS Commercials Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that LHS Commercials Limited 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 LHS Commercials Limited. You consider that LHS Commercials Limited 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 LHS Commercials Limited. 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.

Exactax Limited
Chartered Certified Accountants and Chartered Tax Advisers
Cromwell House
Mill Street
Cannock
Staffs
WS11 0DP

11 November 2016

Page 1

LHS Commercials Limited

trading as LHS Commercials

(Registration number: 07215824)
Abbreviated Balance Sheet as at 30 April 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	2	549	764
Current assets
Stocks		15,421	42,158
Debtors		12,277	-
Cash at bank and in hand		54,273	5,028
		81,971	47,186
Creditors: Amounts falling due within one year		(77,838)	(43,295)
Net current assets		4,133	3,891
Total assets less current liabilities		4,682	4,655
Accruals and deferred income		(1,500)	(2,750)
Net assets		3,182	1,905
Capital and reserves
Called up share capital	3	1	1
Profit and loss account		3,181	1,904
Shareholders funds		3,182	1,905

For the year ending 30 April 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.

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

LHS Commercials Limited

trading as LHS Commercials

(Registration number: 07215824)
Abbreviated Balance Sheet as at 30 April 2016 (continued)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 11 November 2016

_____________________
Mr Heath Stretton (Junior)
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

LHS Commercials Limited

trading as LHS Commercials

Notes to the Abbreviated Accounts

Accounting policies

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

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	Straight line at 20%

Stock

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.

Fixed assets

	Tangible assets £	Total £
Cost
At 1 May 2015	1,077	1,077
At 30 April 2016	1,077	1,077
Depreciation
At 1 May 2015	313	313
Charge for the year	215	215
At 30 April 2016	528	528
Net book value
At 30 April 2016	549	549
At 30 April 2015	764	764

Page 4

LHS Commercials Limited

trading as LHS Commercials

Notes to the Abbreviated Accounts (continued)

Fixed assets (continued)

	Tangible assets £	Total £
Cost
At 1 May 2015	1,077	1,077
At 30 April 2016	1,077	1,077
Depreciation
At 1 May 2015	313	313
Charge for the year	215	215
At 30 April 2016	528	528
Net book value
At 30 April 2016	549	549
At 30 April 2015	764	764

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary Shares of £1 each	1	1	1	1

Analysis of net debt

	At 1 May 2015 £	Cash flow £	At 30 April 2016 £
Cash at bank and in hand	5,028	49,245	54,273
Net debt	5,028	49,245	54,273

Control

The director is the controlling party by virtue of his controlling shareholding in the company.

Page 5