|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Light and Imagination Ltd |
|
Unaudited Financial Statements for the Year Ended 31 March 2019 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Light and Imagination Ltd |
|
Unaudited Financial Statements for the Year Ended 31 March 2019 |
|
|
|
|
|
Light and Imagination Ltd (Registered number: 10111271) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 4 |
|
Light and Imagination Ltd |
|
Company Information |
for the Year Ended 31 March 2019 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
5 London Road |
Rainham |
Gillingham |
Kent |
ME8 7RG |
Light and Imagination Ltd (Registered number: 10111271) |
|
Statement of Financial Position |
31 March 2019 |
|
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
|
CREDITORS |
Amounts falling due after more than one year | 7 |
|
|
NET LIABILITIES | ( |
) | ( |
) |
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
|
|
|
|
|
The director acknowledges her responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Light and Imagination Ltd (Registered number: 10111271) |
|
Statement of Financial Position - continued |
31 March 2019 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director on
|
|
|
|
|
|
|
|
Light and Imagination Ltd (Registered number: 10111271) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
|
1. | STATUTORY INFORMATION |
|
Light and Imagination Ltd is a
|
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 |
|
|
Despite the excess of current liabilities over current assets, the financial statements have been prepared adopting the |
going concern basis for the reasons outlined in the note "Going Concern Basis" below. |
|
Income recognition |
Income represents the fair value of consideration received or receivable derived from the provision of goods and services |
to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, |
usually on the rendering of an invoice. |
|
Tangible fixed assets |
|
Plant and machinery etc | - |
|
|
Financial instruments |
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like |
trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
|
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and |
non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative |
financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
|
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 statement of financial position date. |
|
Light and Imagination Ltd (Registered number: 10111271) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of |
financial position 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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
|
DEPRECIATION |
At 1 April 2018 |
|
Charge for year |
|
At 31 March 2019 |
|
NET BOOK VALUE |
At 31 March 2019 |
|
At 31 March 2018 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
Light and Imagination Ltd (Registered number: 10111271) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
|
|
Other creditors |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
|
|
|
8. | LEASING AGREEMENTS |
|
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Between one and five years |
|
|
|
Rent lease agreement between Nationwide Building Society (Landlord), Light and Imagination Ltd (tenant) and Andreea |
Paciu (surety) for rent on a premises for five years from September 2016. |
|
9. | GOING CONCERN BASIS |
|
The financial statements have been prepared adopting the going concern basis despite the balance sheet showing excess |
liabilities over assets of £51,627. Current liabilities include an amount of £65,280 owed to the director, who has |
indicated that the amount owed to her will not be repayable by the company until cash flow and profitability permit. |