Allied Lighting Limited - Period Ending 2015-03-31

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Allied Lighting Limited for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Allied Lighting Limited for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Allied Lighting Limited, as a body, in accordance with the terms of our engagement letterdated 17 February 2015. Our work has been undertaken solely to prepare for your approval the accounts of Allied Lighting Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Allied Lighting Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Allied Lighting Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Allied Lighting Limited. You consider that Allied Lighting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Allied Lighting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MJH Accountants Limited
Chartered Accountants and Chartered Tax Advisers

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Allied Lighting Limited
(Registration number: 05762369)
Abbreviated Balance Sheet at 31 March 2015

	Note	2015 £	2014 £
Fixed assets
Tangible fixed assets		16,691	1,182
Current assets
Stocks		225,650	139,467
Debtors		279,610	178,127
Cash at bank and in hand		2,563	170
		507,823	317,764
Creditors: Amounts falling due within one year		(82,248)	(352,963)
Net current assets/(liabilities)		425,575	(35,199)
Total assets less current liabilities		442,266	(34,017)
Creditors: Amounts falling due after more than one year		(440,000)	-
Net assets/(liabilities)		2,266	(34,017)
Capital and reserves
Called up share capital	3	111	111
Share premium account		150,000	150,000
Profit and loss account		(147,845)	(184,128)
Shareholders' funds/(deficit)		2,266	(34,017)

The notes on pages 4 to 6 form an integral part of these financial statements.
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Allied Lighting Limited
(Registration number: 05762369)
Abbreviated Balance Sheet at 31 March 2015
......... continued

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 12 May 2015 and signed on its behalf by:

..............................................
Mr David Paul Barrow
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Allied Lighting Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis due to the continuing support of the directors and chairman.

Turnover

Turnover represents amounts chargeable, net of value added tax and trade discounts, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% on written down value
Fixtures and fittings	20% on written down value
Office equipment	25% on written down value and 33.3% on cost

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date. Deferred tax assets are only provided where the directors are certain that economic benefits will flow to the entity in the future.

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Allied Lighting Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 April 2014	1,837	1,837
Additions	16,784	16,784
At 31 March 2015	18,621	18,621
Amortisation
At 1 April 2014	655	655
Charge for the year	1,275	1,275
At 31 March 2015	1,930	1,930
Net book value
At 31 March 2015	16,691	16,691
At 31 March 2014	1,182	1,182

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Allied Lighting Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015			2014
		No.	£		No.	£
Ordinary share of £0.01 each		11,100	111		11,100	111

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