ACCOUNTS - Final Accounts

LEDTEK SOLUTIONS LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-01-01 7638899 2017-01-01 2017-12-31 7638899 2017-12-31 7638899 2016-12-31 7638899 c:Director2 2017-01-01 2017-12-31 7638899 d:CurrentFinancialInstruments 2017-12-31 7638899 d:CurrentFinancialInstruments 2016-12-31 7638899 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 7638899 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 7638899 d:ShareCapital 2017-12-31 7638899 d:ShareCapital 2016-12-31 7638899 d:CapitalRedemptionReserve 2017-12-31 7638899 d:CapitalRedemptionReserve 2016-12-31 7638899 d:RetainedEarningsAccumulatedLosses 2017-12-31 7638899 d:RetainedEarningsAccumulatedLosses 2016-12-31 7638899 c:FRS102 2017-01-01 2017-12-31 7638899 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 7638899 c:FullAccounts 2017-01-01 2017-12-31 7638899 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 iso4217:GBP

Registered number: 7638899

LEDTEK SOLUTIONS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2017

LEDTEK SOLUTIONS LIMITED

REGISTERED NUMBER: 7638899

BALANCE SHEET

AS AT 31 DECEMBER 2017

		2017		2016
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	5,198		14,070
Cash at bank and in hand		61,045		34,433
		66,243		48,503
Creditors: amounts falling due within one year	5	(10,415)		(12,571)
Net current assets			55,828		35,932
Total assets less current liabilities			55,828		35,932

Net assets			55,828		35,932

Capital and reserves
Called up share capital	2	2
Capital redemption reserve	1	1
Profit and loss account	55,825	35,929
	55,828	35,932

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LEDTEK SOLUTIONS LIMITED

REGISTERED NUMBER: 7638899

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2017

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 21 August 2018.

R A Kronman

Director

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

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LEDTEK SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

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

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.

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LEDTEK SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.5

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

2.6

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.

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LEDTEK SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.7

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.

3.	Employees
	Staff costs were as follows:

The average monthly number of employees, including directors, during the year was 2 (2016 - 2).

Debtors

					2017	2016
					£	£


Trade debtors	4,260	11,261
Other debtors	-	1,253
Prepayments and accrued income	938	1,556
	5,198	14,070

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LEDTEK SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

5.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Trade creditors	-	896
Corporation tax	4,742	5,542
Other taxation and social security	902	-
Other creditors	66	67
Accruals and deferred income	4,705	6,066
	10,415	12,571

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