Abbreviated Company Accounts - LIGHTNEST LIMITED

07756441 LIGHTNEST LIMITED 2016-08-31 false 2015-09-01 2016-08-31 true 07756441 2015-09-01 2016-08-31 07756441 2016-08-31 07756441 2015-08-31 07756441 uk-gaap-cd-bus:Director1 2015-09-01 2016-08-31 07756441 uk-gaap-cd-bus:Director2 2015-09-01 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-01 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-09-01 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass2 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-08-31 iso4217:GBP shares

Registered Number 07756441

LIGHTNEST LIMITED

Abbreviated Accounts

31 August 2016

LIGHTNEST LIMITED Registered Number 07756441

Abbreviated Balance Sheet as at 31 August 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	235	826
		235	826
Current assets
Debtors		4,171	8,582
Cash at bank and in hand		3,631	6,579
		7,802	15,161
Creditors: amounts falling due within one year		(10,715)	(14,009)
Net current assets (liabilities)		(2,913)	1,152
Total assets less current liabilities		(2,678)	1,978
Total net assets (liabilities)		(2,678)	1,978
Capital and reserves
Called up share capital	3	200	200
Profit and loss account		(2,878)	1,778
Shareholders' funds		(2,678)	1,978

For the year ending 31 August 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 29 May 2017

And signed on their behalf by:
A Hadley, Director

LIGHTNEST LIMITED Registered Number 07756441

Notes to the Abbreviated Accounts for the period ended 31 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company had net current liabilities of £2,913 at the balance sheet date. The director considers the going concern basis to be appropriate because, in his opinion, the company will continue to obtain sufficient funding to enable it to pay its debts as they fall due and will also receive continuing support from its creditors. If the company were unable to obtain such funding, it would be unable to continue trading and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise.

Turnover policy
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery - 33.33% straight line

Other accounting policies
Foreign currency - Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

Operating leases - Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

2Tangible fixed assets

	£
Cost
At 1 September 2015	2,795
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2016	2,795
Depreciation
At 1 September 2015	1,969
Charge for the year	591
On disposals	-
At 31 August 2016	2,560
Net book values
At 31 August 2016	235
At 31 August 2015	826

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 A Ordinary shares of £1 each	100	100
100 B Ordinary shares of £1 each	100	100

Ordinary A and Ordinary B shares rank pari passu in all respects except for the purpose of declaration of a dividend. The declaration of a dividend in respect of one class of share shall not compel a dividend at the same rate to be declared in other class of share.