ACCOUNTS - Final Accounts

LEDTEK SOLUTIONS LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2016-12-312016-12-31The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueThe principal activity of the company continued to be that of management consultancy services and the maintenance of electronic media displays.false2016-01-01 7638899 2016-01-01 2016-12-31 7638899 2016-12-31 7638899 2015-12-31 7638899 c:Director1 2016-01-01 2016-12-31 7638899 c:Director2 2016-01-01 2016-12-31 7638899 d:CurrentFinancialInstruments 2016-12-31 7638899 d:CurrentFinancialInstruments 2015-12-31 7638899 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 7638899 d:CurrentFinancialInstruments d:WithinOneYear 2015-12-31 7638899 d:ShareCapital 2016-12-31 7638899 d:ShareCapital 2015-12-31 7638899 d:CapitalRedemptionReserve 2016-12-31 7638899 d:RetainedEarningsAccumulatedLosses 2016-12-31 7638899 d:RetainedEarningsAccumulatedLosses 2015-12-31 7638899 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2016-12-31 7638899 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2015-12-31 7638899 c:FRS102 2016-01-01 2016-12-31 7638899 c:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 7638899 c:FullAccounts 2016-01-01 2016-12-31 7638899 c:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 iso4217:GBP

Registered number: 7638899

LEDTEK SOLUTIONS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

LEDTEK SOLUTIONS LIMITED

REGISTERED NUMBER: 7638899

BALANCE SHEET

AS AT 31 DECEMBER 2016

		2016		2015
Note		£		£


Current assets
Debtors: amounts falling due within one year	3	14,070		32,643
Cash at bank and in hand	4	34,433		53,190
		48,503		85,833
Creditors: amounts falling due within one year	5	(12,571)		(15,062)
Net current assets			35,932		70,771
Total assets less current liabilities			35,932		70,771

Net assets			35,932		70,771

Capital and reserves
Called up share capital	2	3
Capital redemption reserve	1	-
Profit and loss account	35,929	70,768
	35,932	70,771

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 July 2017.

R A Kronman	P N Ewens
Director	Director

The notes on pages 3 to 6 form part of these financial statements.

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LEDTEK SOLUTIONS LIMITED

REGISTERED NUMBER: 7638899

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2016

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LEDTEK SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

1.	General information

The company is a private company limited by shares and is incorporated and domiciled in England. The address of its registered office 64 New Cavendish Street, London W1G 8TB.
The principal activity of the company continued to be that of management consultancy services and the maintenance of electronic media displays.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other

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LEDTEK SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

2.5

Financial instruments (continued)

third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

2.8

Taxation

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors

					2016	2015
					£	£


Trade debtors	11,261	31,267
Other debtors	1,253	-

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LEDTEK SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

3.Debtors (continued)

Prepayments and accrued income	1,556	1,376
	14,070	32,643

4.	Cash and cash equivalents
		2016	2015
		£	£

Cash at bank and in hand	34,433	53,190
	34,433	53,190

5.	Creditors: Amounts falling due within one year
		2016	2015
		£	£

Trade creditors	896	-
Corporation tax	5,542	6,730
Other taxation and social security	-	4,766
Other creditors	67	66
Accruals and deferred income	6,066	3,500
	12,571	15,062

6.	Financial instruments
		2016	2015
		£	£

Financial assets
Financial assets measured at fair value through profit or loss	34,433	53,190
	34,433	53,190

Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

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		LEDTEK SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

7.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

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