CFE Lighting Ltd - Period Ending 2016-07-31

Registration number: 09680713

CFE Lighting Ltd

Unaudited Abbreviated Accounts

for the Period from 10 July 2015 to 31 July 2016

 

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

CFE Lighting Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 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 Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
CFE Lighting Ltd
for the Period Ended 31 July 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CFE Lighting Ltd for the period ended 31 July 2016 set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of CFE Lighting Ltd . Our work has been undertaken solely to prepare for your approval the accounts of CFE Lighting Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CFE Lighting Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that CFE Lighting 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 loss of CFE Lighting Ltd. You consider that CFE Lighting Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of CFE Lighting 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.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

7 April 2017

Page 1

CFE Lighting Ltd
(Registration number: 09680713)
Abbreviated Balance Sheet at 31 July 2016

		Note			31 July 2016 £
Fixed assets
Tangible fixed assets					17,973
Current assets
Stocks					244,529
Debtors					109,599
Cash at bank and in hand					8,342
					362,470
Creditors: Amounts falling due within one year					(337,950)
Net current assets					24,520
Total assets less current liabilities					42,493
Creditors: Amounts falling due after more than one year					(105,581)
Net liabilities					(63,088)
Capital and reserves
Called up share capital		4			100
Profit and loss account					(63,188)
Shareholders' deficit					(63,088)

For the year ending 31 July 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 7 April 2017 and signed on its behalf by:

.........................................
Mr C Baldwin
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

CFE Lighting Ltd
Notes to the Abbreviated Accounts for the Period from 10 July 2015 to 31 July 2016
......... 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 January 2015).

Going concern

The financial statements have been prepared on a going concern basis which the directors believe to be appropriate.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods 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	15% Reducing balance
Fixtures fittings	15% Reducing balance
Office equipment	15% Reducing balance

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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.

Page 3

CFE Lighting Ltd
Notes to the Abbreviated Accounts for the Period from 10 July 2015 to 31 July 2016
......... continued

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		20,149			20,149
At 31 July 2016		20,149			20,149
Depreciation
Charge for the period		2,176			2,176
At 31 July 2016		2,176			2,176
Net book value
At 31 July 2016		17,973			17,973

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		31 July 2016 £
Amounts falling due within one year		36,068
Amounts falling due after more than one year		105,581
Total secured creditors		141,649

Page 4

CFE Lighting Ltd
Notes to the Abbreviated Accounts for the Period from 10 July 2015 to 31 July 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	31 July 2016
		No.			£
Ordinary shares of £1 each		100			100

New shares allotted

During the period 100 Ordinary share having an aggregate nominal value of £100.00 were allotted for an aggregate consideration of £100. The reason for the allotment was to fund the opening working capital.

Page 5