REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 |
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FOR |
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PROFESSIONAL LIGHTING AND SOUND |
ASSOCIATION LTD |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 |
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FOR |
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PROFESSIONAL LIGHTING AND SOUND |
ASSOCIATION LTD |
PROFESSIONAL LIGHTING AND SOUND |
ASSOCIATION LTD (REGISTERED NUMBER: 02433137) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
PROFESSIONAL LIGHTING AND SOUND |
ASSOCIATION LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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PROFESSIONAL LIGHTING AND SOUND |
ASSOCIATION LTD (REGISTERED NUMBER: 02433137) |
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ABBREVIATED BALANCE SHEET |
31 DECEMBER 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
PROFESSIONAL LIGHTING AND SOUND |
ASSOCIATION LTD (REGISTERED NUMBER: 02433137) |
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ABBREVIATED BALANCE SHEET - continued |
31 DECEMBER 2015 |
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The financial statements were approved by the Board of Directors on
behalf by: |
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PROFESSIONAL LIGHTING AND SOUND |
ASSOCIATION LTD (REGISTERED NUMBER: 02433137) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance |
with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover comprises the invoiced value of goods and services supplied by the company, net of value |
added tax. It is stated exclusive of sales of fixed assets. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Stocks |
Stock is valued at the lower of cost and net realisable value. |
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Deferred tax |
Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet |
date to pay more tax, or a right to pay less tax, at a future date at rates expected to apply when they |
crystallise based on current tax rates and law. |
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Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of |
fixed assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose |
of the assets of the assets concerned. However, no provision is made where, on the basis of all |
available evidence at the balance sheet date, it is more likely than not that the gain will be rolled over |
into replacement assets and charged to tax only where the replacement assets are sold; |
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Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they |
will be recovered. Deferred tax assets and liabilities are not discounted. |
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Foreign currencies |
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date |
of transaction. |
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Leasing and hire purchase |
Assets obtained under hire purchase and finance leases are capitalised as tangible fixed assets and |
depreciated over their useful lives. The interest element of the rental payment is charged to the profit |
and loss account over the period of the lease. Rentals under operating leases are charged to the profit |
and loss account on a straight line basis over the term of the lease. |
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Pensions |
The company makes defined pension contributions for some of its employees. All contributions are |
charged to the profit and loss account as incurred. |
PROFESSIONAL LIGHTING AND SOUND |
ASSOCIATION LTD (REGISTERED NUMBER: 02433137) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2015 |
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Additions |
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At 31 December 2015 |
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DEPRECIATION |
At 1 January 2015 |
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Charge for year |
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At 31 December 2015 |
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NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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3. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
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COST |
At 1 January 2015 |
and 31 December 2015 | 2,001 |
NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary | £1 |
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5. | ULTIMATE PARENT COMPANY |
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The company is wholly owned and controlled by the professional Lighting and Sound Association. |