RICHARD_P_LUCKIE_ELECTRIC - Accounts

RICHARD P LUCKIE ELECTRICAL LTD - Company Information

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Company Registration No. 07722284 (England and Wales)

RICHARD P LUCKIE ELECTRICAL LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2016

RICHARD P LUCKIE ELECTRICAL LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

RICHARD P LUCKIE ELECTRICAL LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

8,400

Tangible assets

2,371

3,087

2,371

11,487

Current assets

Stocks

1,000

Debtors

82,238

130,940

Cash at bank and in hand

10,441

4,986

93,679

136,926

Creditors: amounts falling due within one year

(51,821)

(101,931)

Net current assets

41,858

34,995

Total assets less current liabilities

44,229

46,482

Provisions for liabilities

(67)

(125)

44,162

46,357

Capital and reserves

Called up share capital

100

Profit and loss account

44,062

46,257

Shareholders' funds

44,162

46,357

RICHARD P LUCKIE ELECTRICAL LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 OCTOBER 2016

- 2 -

For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 25 July 2017

Mr R P Luckie

Mrs C A Luckie

Director

Company Registration No. 07722284

RICHARD P LUCKIE ELECTRICAL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% reducing balance

Computer equipment

20% reducing balance

Motor vehicles

25% reducting balance

1.6

Revenue recognition

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

RICHARD P LUCKIE ELECTRICAL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 November 2015 & at 31 October 2016

42,000

9,050

51,050

Depreciation

At 1 November 2015

33,600

5,963

39,563

Charge for the year

8,400

716

9,116

At 31 October 2016

42,000

6,679

48,679

Net book value

At 31 October 2016

2,371

At 31 October 2015

8,400

3,087

11,487

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Other transactions

The directors maintain a directors loan account with the company. At the balance sheet date £33,685 was owed to Mr and Mrs Luckie.