Live Electrics (SW) Limited - Abbreviated accounts 16.3

LIVE ELECTRICS (SW) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P Moyne

S G Hatcliff

SECRETARY:

REGISTERED OFFICE:

Monarch House

1 Smyth Road

Bristol

BS3 2BX

REGISTERED NUMBER:

08635396 (England and Wales)

ACCOUNTANTS:

Robert Brown & Co

Chartered Accountants

Monarch House

1 Smyth Road

Bristol

BS3 2BX

FIXED ASSETS

Tangible assets

2

52,081

34,031

CURRENT ASSETS

Debtors

41,024

40,684

Cash at bank

57,480

32,337

98,504

73,021

CREDITORS

Amounts falling due within one year

87,899

62,480

NET CURRENT ASSETS

10,605

10,541

TOTAL ASSETS LESS CURRENT
LIABILITIES

62,686

44,572

CREDITORS

Amounts falling due after more than one
year

(35,529

)

(23,734

)

PROVISIONS FOR LIABILITIES

(10,416

)

(6,806

)

NET ASSETS

16,741

14,032

CAPITAL AND RESERVES

Called up share capital

3

10

Profit and loss account

16,731

14,022

SHAREHOLDERS' FUNDS

16,741

14,032

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 March 2017 and were signed on its behalf by:

P Moyne - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

50,599

Additions

47,169

Disposals

(20,902

)

At 31 August 2016

76,866

DEPRECIATION

At 1 September 2015

16,568

Charge for year

17,361

Eliminated on disposal

(9,144

)

At 31 August 2016

24,785

NET BOOK VALUE

At 31 August 2016

52,081

At 31 August 2015

34,031

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

10

Ordinary

1

10