Lamps Tubes & Lighting Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 03284081 (England and Wales)

LAMPS TUBES & LIGHTING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

F Goodes

Mrs D M Goodes

Miss A M Goodes

SECRETARY:

Mrs D M Goodes

REGISTERED OFFICE:

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

REGISTERED NUMBER:

03284081 (England and Wales)

ACCOUNTANTS:

Phipps Henson McAllister

Chartered Accountants

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Tangible assets

4

3,117

4,156

CURRENT ASSETS

Stocks

66,573

72,317

Debtors

5

19,572

9,723

Cash at bank and in hand

22,041

14,853

108,186

96,893

CREDITORS

Amounts falling due within one year

6

104,815

99,961

NET CURRENT ASSETS/(LIABILITIES)

3,371

(3,068

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,488

1,088

PROVISIONS FOR LIABILITIES

623

831

NET ASSETS

5,865

257

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

5,765

157

SHAREHOLDERS' FUNDS

5,865

257

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 18 April 2017 and were signed on its behalf by:

F Goodes - Director

1.	STATUTORY INFORMATION

Lamps Tubes & Lighting Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings & equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted

or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Motor

& equipment

vehicles

Totals

£

£

£

COST

At 1 January 2016

and 31 December 2016

29,933

5,450

35,383

DEPRECIATION

At 1 January 2016

28,842

2,385

31,227

Charge for year

273

766

1,039

At 31 December 2016

29,115

3,151

32,266

NET BOOK VALUE

At 31 December 2016

818

2,299

3,117

At 31 December 2015

1,091

3,065

4,156

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

19,572

9,723

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

14,402

19,793

Corporation tax

9,110

8,368

Social security and other taxes

11,138

6,953

Directors' current accounts

67,265

62,517

Accruals and deferred income

2,900

2,330

104,815

99,961

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2016

2015

£

£

Within one year

15,000

-

Between one and five years

-

30,200

15,000

30,200

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £30,000 (2015 - £46,000) were paid to the directors .

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr F Goodes and his wife Mrs D M Goodes who own 100% of the share capital.

10.	TRANSITION TO FRS 102 1A

This is the first year that the company has presented its results under FRS 102 1A. The last financial statements

under UK GAAP were for the year ended 31 December 2015. The date of transition to FRS 102 1A was

1 January 2015. No accounting policies have changed and no adjustments made due to the change.