Lagad Vision Laboratory Ltd - Limited company accounts 16.3

REGISTERED NUMBER: 06734270 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Lagad Vision Laboratory Ltd

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

P Y Herve

SECRETARY:

REGISTERED OFFICE:

1, Horsefair Mews

Romsey

Hampshire

SO51 8JG

REGISTERED NUMBER:

06734270 (England and Wales)

ACCOUNTANTS:

123 Business Services

1, Horsefair Mews

Romsey

Hampshire

SO51 8JG

The director presents his report with the financial statements of the company for the year ended 31 December 2016.

INCORPORATION

The company was incorporated on 27 October 2008 .

DIRECTOR

P Y Herve held office during the whole of the period from 1 January 2016 to the date of this report.

The director, being eligible, offers himself for election at the forthcoming first Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

P Y Herve - Director

14 September 2017

TURNOVER

141,176

Cost of sales

60,780

GROSS PROFIT

80,396

Administrative expenses

26,412

OPERATING PROFIT

3

53,984

Interest payable and similar expenses

5,614

PROFIT BEFORE TAXATION

48,370

Tax on profit

-

PROFIT FOR THE FINANCIAL YEAR

48,370

FIXED ASSETS

Tangible assets

4

3,303

CURRENT ASSETS

Stocks

70,798

Debtors

5

19,598

Cash at bank

5,210

95,606

CREDITORS

Amounts falling due within one year

6

16,664

NET CURRENT ASSETS

78,942

TOTAL ASSETS LESS CURRENT LIABILITIES

82,245

CREDITORS

Amounts falling due after more than one year

7

484,316

NET LIABILITIES

(402,071

)

CAPITAL AND RESERVES

Called up share capital

211

Retained earnings

(402,282

)

(402,071

)

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 director acknowledges his 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 14 September 2017 and were signed by:

P Y Herve - Director

1.	STATUTORY INFORMATION

Lagad Vision Laboratory Ltd 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.

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 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.

3.	OPERATING PROFIT

The operating profit is stated after charging:

£

Depreciation - owned assets

826

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

4,057

Additions

1,772

At 31 December 2016

5,829

DEPRECIATION

At 1 January 2016

1,700

Charge for year

826

At 31 December 2016

2,526

NET BOOK VALUE

At 31 December 2016

3,303

At 31 December 2015

2,357

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

19,598

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

9,247

Trade creditors

3,765

Taxation and social security

1,902

Other creditors

1,750

16,664

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

484,316