Live Electrical Distributors Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08477580 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

Live Electrical Distributors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D J Kingston

REGISTERED OFFICE:

The Stable Yard

Vicarage Road

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1BN

REGISTERED NUMBER:

08477580 (England and Wales)

ACCOUNTANTS:

Connolly Accountants & Business Advisors LTD

Chartered Certified Accountants

The Stable Yard

Vicarage Road

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1BN

FIXED ASSETS

Tangible assets

4

7,341

1,023

CURRENT ASSETS

Stocks

15,000

15,000

Debtors

5

63,448

66,372

Cash at bank

10,780

3,336

89,228

84,708

CREDITORS

Amounts falling due within one year

6

86,554

84,705

NET CURRENT ASSETS

2,674

3

TOTAL ASSETS LESS CURRENT LIABILITIES

10,015

1,026

CREDITORS

Amounts falling due after more than one year

7

13,124

-

NET (LIABILITIES)/ASSETS

(3,109

)

1,026

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(3,209

)

926

SHAREHOLDERS' FUNDS

(3,109

)

1,026

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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

D J Kingston - Director

1.	STATUTORY INFORMATION

Live Electrical Distributors Limited 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

2,016

Additions

9,667

Disposals

(1,500

)

At 30 April 2017

10,183

DEPRECIATION

At 1 May 2016

993

Charge for year

2,612

Eliminated on disposal

(763

)

At 30 April 2017

2,842

NET BOOK VALUE

At 30 April 2017

7,341

At 30 April 2016

1,023

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

9,467

At 30 April 2017

9,467

DEPRECIATION

Charge for year

2,367

At 30 April 2017

2,367

NET BOOK VALUE

At 30 April 2017

7,100

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

58,578

62,834

Other debtors

4,870

3,538

63,448

66,372

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

1,251

-

Trade creditors

56,341

51,326

Taxation and social security

2,375

3,450

Other creditors

26,587

29,929

86,554

84,705

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

6,756

-

Other creditors

6,368

-

13,124

-

8.	ULTIMATE CONTROLLING PARTY

The controlling party is D J Kingston.