Livewire Connections Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05182001 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

FOR

LIVEWIRE CONNECTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D I Walker

W J Ashworth

E L Ceuppens

N P H Malgrain

H C M Nays

REGISTERED OFFICE:

Sundial House

High Street

Horsell

Woking

Surrey

GU21 4SU

REGISTERED NUMBER:

05182001 (England and Wales)

AUDITORS:

Hamlyns LLP

Statutory Auditor

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

30,200

40,270

CURRENT ASSETS

Stocks

146,901

150,555

Debtors

5

2,177,454

606,793

Cash at bank and in hand

1,030,295

1,646,298

3,354,650

2,403,646

CREDITORS

Amounts falling due within one year

6

1,236,968

946,196

NET CURRENT ASSETS

2,117,682

1,457,450

TOTAL ASSETS LESS CURRENT LIABILITIES

2,147,882

1,497,720

PROVISIONS FOR LIABILITIES

5,375

7,208

NET ASSETS

2,142,507

1,490,512

CAPITAL AND RESERVES

Called up share capital

802

802

Capital redemption reserve

200

200

Retained earnings

2,141,505

1,489,510

SHAREHOLDERS' FUNDS

2,142,507

1,490,512

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 20 November 2018 and were signed on its behalf by:

W J Ashworth - 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 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 15 (2017 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 August 2017

and 31 July 2018

4,726

22,736

29,984

64,006

121,452

DEPRECIATION

At 1 August 2017

4,186

12,390

24,424

40,182

81,182

Charge for year

135

2,587

1,391

5,957

10,070

At 31 July 2018

4,321

14,977

25,815

46,139

91,252

NET BOOK VALUE

At 31 July 2018

405

7,759

4,169

17,867

30,200

At 31 July 2017

540

10,346

5,560

23,824

40,270

5.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

430,809

530,176

Amounts owed by group undertakings

1,690,966

-

Other debtors

16,313

41,251

2,138,088

571,427

Amounts falling due after more than one year:

Other debtors

39,366

35,366

Aggregate amounts

2,177,454

606,793

During the financial year Livewire Connections Limited received £50,931 in interest from a loan to its immediate

parent, Marlink AS.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

615,557

290,995

Taxation and social security

175,596

114,848

Other creditors

445,815

540,353

1,236,968

946,196

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Cooper (Senior Statutory Auditor)

for and on behalf of Hamlyns LLP

8.	RELATED PARTY DISCLOSURES

The immediate parent of the entity is Marlink AS, a company registered in Norway, by virtue of its shareholding.

The registered address of the parent is Lysaker Torg 45, 1366 Lysaker, Norway

The Ultimate Controlling party of the entity is MAKTO S.A.R.L., a company registered in Luxembourg.

The registered address of the ultimate controlling party is Rue Jean Engling 12, 1466 Luxembourg, Luxembourg.