LIGHTHOUSE_ENGINEERING_LI - Accounts

LIGHTHOUSE ENGINEERING LIMITED - Company Information

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Company Registration No. 04404817 (England and Wales)

LIGHTHOUSE ENGINEERING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

LIGHTHOUSE ENGINEERING LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

LIGHTHOUSE ENGINEERING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

2,200

2,475

Tangible assets

14,471

2,055

16,671

4,530

Current assets

Stocks

38,150

36,500

Debtors

12,923

13,215

Cash at bank and in hand

51,087

49,732

Creditors: amounts falling due within one year

(52,125)

(54,034)

Net current liabilities

(1,038)

(4,302)

Total assets less current liabilities

15,633

228

Creditors: amounts falling due after more than one year

(11,306)

Provisions for liabilities

(2,848)

(71)

1,479

157

Capital and reserves

Called up share capital

Profit and loss account

1,478

156

Shareholders' funds

1,479

157

LIGHTHOUSE ENGINEERING LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2014

- 2 -

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 31 December 2014

Mr J P Flynn

Director

Company Registration No. 04404817

LIGHTHOUSE ENGINEERING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

These financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption is dependent upon the continued support from the company's creditors. The director has considered the period ahead and addressed the company's performance in light of the current economic downturn. The director is confident that financial support will continue to be provided for the foreseeable future to ensure that the company can meet its day-to-day commitments from cash flows. As a consequence, the director believes that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. As such, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the the going concern basis in preparing the annual report and accounts.

If the company were unable to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts, to provide for further liabilities that might arise and to reclassify fixed assets as current assets.

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.

1.4

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 less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% Reducing Balance

Motor vehicles

25% Reducing Balance

LIGHTHOUSE ENGINEERING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2013

5,500

20,040

25,540

Additions

18,495

Disposals

(16,730)

At 31 March 2014

5,500

21,805

27,305

Depreciation

At 1 April 2013

3,025

17,984

21,009

On disposals

(15,474)

Charge for the year

275

4,824

5,099

At 31 March 2014

3,300

7,334

10,634

Net book value

At 31 March 2014

2,200

14,471

16,671

At 31 March 2013

2,475

2,055

4,530

Share capital

2014

2013

Allotted, called up and fully paid

1 Ordinary Shares of £1 each

Related party relationships and transactions

Loans to directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

J Flynn

4.00

2,691

69,883

86,585

(14,011)

2,691

69,883

86,585

(14,011)