Abbreviated Company Accounts - THE LIGHT & FANTASTIC COMPANY LIMITED

THE LIGHT & FANTASTIC COMPANY LIMITED - Company Information

05261906 THE LIGHT & FANTASTIC COMPANY LIMITED 2016-10-31 false 2015-11-01 2016-10-31 true 05261906 2015-11-01 2016-10-31 05261906 2016-10-31 05261906 2015-10-31 05261906 uk-gaap-cd-bus:Director1 2015-11-01 2016-10-31 05261906 uk-gaap-cd-bus:Director2 2015-11-01 2016-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-11-01 2016-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-31 iso4217:GBP shares

Registered Number 05261906

THE LIGHT & FANTASTIC COMPANY LIMITED

Abbreviated Accounts

31 October 2016

THE LIGHT & FANTASTIC COMPANY LIMITED Registered Number 05261906

Abbreviated Balance Sheet as at 31 October 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	688	11
		688	11
Current assets
Debtors		33,670	38,634
Cash at bank and in hand		67,712	14,696
		101,382	53,330
Net current assets (liabilities)		101,382	53,330
Total assets less current liabilities		102,070	53,341
Accruals and deferred income		(33,754)	(42,764)
Total net assets (liabilities)		68,316	10,577
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		68,314	10,575
Shareholders' funds		68,316	10,577

For the year ending 31 October 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 21 June 2017

And signed on their behalf by:
C. Foster, Director

THE LIGHT & FANTASTIC COMPANY LIMITED Registered Number 05261906

Notes to the Abbreviated Accounts for the period ended 31 October 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).

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Computer equipment 33% straight line
Fixtures, fittings and equipment 25% straight line

Other accounting policies
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

Foreign currencies
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.

2Tangible fixed assets

	£
Cost
At 1 November 2015	3,187
Additions	1,016
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2016	4,203
Depreciation
At 1 November 2015	3,176
Charge for the year	339
On disposals	-
At 31 October 2016	3,515
Net book values
At 31 October 2016	688
At 31 October 2015	11

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

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2