LUXSIGNS_LIMITED - Accounts

LUXSIGNS LIMITED - Company Information

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Company Registration No. 03962825 (England and Wales)

LUXSIGNS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2014

LUXSIGNS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

LUXSIGNS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

3,999

5,334

Current assets

Debtors

20,129

26,851

Cash at bank and in hand

13,342

2,231

33,471

29,082

Creditors: amounts falling due within one year

(34,987)

(31,838)

Net current liabilities

(1,516)

(2,756)

Total assets less current liabilities

2,483

2,578

Provisions for liabilities

(800)

(1,067)

1,683

1,511

Capital and reserves

Called up share capital

Profit and loss account

1,682

1,510

Shareholders' funds

1,683

1,511

For the financial year ended 30 April 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 members have 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 29 January 2015

Mr N A Luxton

Director

Company Registration No. 03962825

LUXSIGNS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

- 2 -

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).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

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

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:

Plant, machinery & office equipment

25% Reducing balance

Motor vehicles

25% Reducing balance

1.5

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements.

Fixed assets

Tangible assets

Cost

At 1 May 2013 & at 30 April 2014

8,717

Depreciation

At 1 May 2013

3,383

Charge for the year

1,335

At 30 April 2014

4,718

Net book value

At 30 April 2014

3,999

At 30 April 2013

5,334

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2013 - £883).

LUXSIGNS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

1 Ordinary share of £1 each

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr N A Luxton -

4.00

15,188

21,264

644

23,742

13,354

15,188

21,264

644

23,742

13,354

The above transactions reflect all private transaction throughout the year as reduced by salary/dividends not drawn by the director.