Livewire Connections Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05182001 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

FOR

LIVEWIRE CONNECTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D I Walker

W J Ashworth

SECRETARY:

Mrs P J Walker

REGISTERED OFFICE:

Sundial House

High Street

Horsell

Woking

Surrey

GU21 4SU

REGISTERED NUMBER:

05182001 (England and Wales)

ACCOUNTANTS:

Hamlyns LLP

Chartered Accountants

Sundial House

High Street

Horsell

Woking

Surrey

GU21 4SU

BANKERS:

Barclays Bank Plc

PO Box 166

Heathrow Airport

Hounslow

Middlesex

TW6 2RA

FIXED ASSETS

Tangible assets

4

40,270

21,305

CURRENT ASSETS

Stocks

150,555

103,424

Debtors

5

606,793

715,540

Cash at bank and in hand

1,646,298

1,064,096

2,403,646

1,883,060

CREDITORS

Amounts falling due within one year

6

946,196

1,071,167

NET CURRENT ASSETS

1,457,450

811,893

TOTAL ASSETS LESS CURRENT LIABILITIES

1,497,720

833,198

PROVISIONS FOR LIABILITIES

7,208

3,693

NET ASSETS

1,490,512

829,505

CAPITAL AND RESERVES

Called up share capital

802

802

Capital redemption reserve

200

200

Retained earnings

1,489,510

828,503

SHAREHOLDERS' FUNDS

1,490,512

829,505

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 30 November 2017 and were signed on its behalf by:

W J Ashworth - Director

D I Walker - Director

1.	STATUTORY INFORMATION

Livewire Connections 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.

This is the first year of adoption of FRS 102 (Section 1A) and there are no transitional adjustments.

Turnover

Turnover represents net invoiced sales of goods and services provided in the year, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Basic financial instruments are recognised at amortised cost.

The company has no non-basic financial instruments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2016 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 August 2016

4,726

10,595

32,644

97,414

145,379

Additions

-

16,324

3,815

35,428

55,567

Disposals

-

(4,183

)

(6,475

)

(68,836

)

(79,494

)

At 31 July 2017

4,726

22,736

29,984

64,006

121,452

DEPRECIATION

At 1 August 2016

4,007

8,940

27,794

83,333

124,074

Charge for year

179

7,213

2,608

19,276

29,276

Eliminated on disposal

-

(3,763

)

(5,978

)

(62,427

)

(72,168

)

At 31 July 2017

4,186

12,390

24,424

40,182

81,182

NET BOOK VALUE

At 31 July 2017

540

10,346

5,560

23,824

40,270

At 31 July 2016

719

1,655

4,850

14,081

21,305

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

530,176

637,034

Other debtors

76,617

78,506

606,793

715,540

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

290,995

232,744

Taxation and social security

114,848

58,349

Other creditors

540,353

780,074

946,196

1,071,167

7.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr D. I. Walker and Mr W. J. Ashworth, by virtue of their shareholdings.