Lift Creative Communication Design Limited
Lift Creative Communication Design Limited
Registered number: 06053048
Unaudited Financial Statements
For The Year Ended 31 March 2017
Accountwise Ltd
Lift Creative Communication Design Limited
Unaudited Financial Statements
For The Year Ended 31 March 2017
Unaudited Financial Statements
| Contents | |
| Page | |
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| Accountant's Report | 1 |
| Balance Sheet | 2—3 |
| Statement of Changes in Equity | 4 |
| Notes to the Financial Statements | 5—8 |
Lift Creative Communication Design Limited
Accountant's Report
For The Year Ended 31 March 2017
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Lift Creative Communication Design Limited For The Year Ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Lift Creative Communication Design Limited For The Year Ended 31 March 2017 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the directors of Lift Creative Communication Design Limited , as a body, in accordance with the terms of our engagement letter dated 21 July 2010. Our work has been undertaken solely to prepare for your approval the accounts of Lift Creative Communication Design Limited and state those matters that we have agreed to state to the directors of Lift Creative Communication Design Limited , as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lift Creative Communication Design Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Lift Creative Communication Design Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Lift Creative Communication Design Limited . You consider that Lift Creative Communication Design Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Lift Creative Communication Design Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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198 Finchampstead Road
Wokingham
Berkshire
RG40 3HB
Page 1
Lift Creative Communication Design Limited
Balance Sheet
As at
31 March 2017
Balance Sheet
Registered number:
06053048
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 7 |
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| CURRENT ASSETS | |||||
| Debtors | 8 |
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| Creditors: Amounts Falling Due Within One Year | 9 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 10 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 11 |
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| Profit and loss account |
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| SHAREHOLDERS' FUNDS | 343 | 4,073 | |||
Page 2
Lift Creative Communication Design Limited
Balance Sheet (continued)
As at
31 March 2017
Directors' responsibilities:
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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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
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The notes on pages 5 to 8 form part of these financial statements.
Page 3
Lift Creative Communication Design Limited
Statement of Changes in Equity
For The Year Ended 31 March 2017
Statement of Changes in Equity
| Share Capital | Profit & Loss Account | Total | |
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| £ | £ | £ | |
| As at 1 April 2015 |
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8,938 |
| Profit for the year and total comprehensive income | - |
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55,135 |
| Dividends paid | - | (60,000) | (60,000) |
| As at 31 March 2016 and 1 April 2016 |
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4,073 |
| Profit for the year and total comprehensive income | - |
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30,270 |
| Dividends paid | - | (34,000) | (34,000) |
| As at |
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343 |
Page 4
Lift Creative Communication Design Limited
Notes to the Unaudited Accounts
For The Year Ended 31 March 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Revenue, described as turnover, is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.
Revenue is recognised on the sale of goods when the goods are despatched. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.
1.3.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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| Computer Equipment |
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1.4.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.5.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2017 | 2016 | ||
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| £ | £ | ||
| Wages and salaries |
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| Social security costs |
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| Other pension costs |
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Page 5
Lift Creative Communication Design Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
4.
Average number of employees
Average number of employees, including directors, during the year was as follows:
| 2017 | 2016 | ||
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| Office and administration |
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| Sales, marketing and distribution |
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5.
Interest Payable
| 2017 | 2016 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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7.
Tangible Assets
| Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | |
| Cost | |||
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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8.
Debtors
| 2017 | 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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Page 6
Lift Creative Communication Design Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
9.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Other creditors |
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| Directors' loan accounts |
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10.
Deferred Taxation
| 2017 | 2016 | ||
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| £ | £ | ||
| As at |
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| Deferred taxation |
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| Deferred tax |
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The provision for deferred taxation is made up of accelerated capital allowances
12.
Transactions With and Loans to Directors
Dividends paid to directors
| 2017 | 2016 | |
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| £ | £ | |
| Mrs Clare Carey | 17,000 | 30,000 |
| Mr Matthew Carey | 17,000 | 30,000 |
13.
Dividends
| 2017 | 2016 | ||
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| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
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| 34,000 | 60,000 | ||
Page 7
Lift Creative Communication Design Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
14.
Ultimate Controlling Party
The company's ultimate controlling party are the directors by virtue of their ownership of 100% of the issued share capital in the company.
15.
General Information
Lift Creative Communication Design Limited Registered number 06053048 is a limited by shares company incorporated in England & Wales. The Registered Office is 198 Finchampstead Road, Wokingham, Berkshire, RG40 3PE.
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