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REGISTERED NUMBER: 08471748 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

FELIX LIGHTING SPECIALISTS LTD

FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)






Contents of the Financial Statements
for the year ended 31 March 2022




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


FELIX LIGHTING SPECIALISTS LTD

Company Information
for the year ended 31 March 2022







DIRECTORS: G J May
V J L May





SECRETARY: V J L May





REGISTERED OFFICE: 11 Laura Place
Bath
Avon
BA2 4BL





REGISTERED NUMBER: 08471748 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Felix Lighting Specialists Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Felix Lighting Specialists Ltd for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Felix Lighting Specialists Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Felix Lighting Specialists Ltd and state those matters that we have agreed to state to the Board of Directors of Felix Lighting Specialists Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Felix Lighting Specialists Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Felix Lighting Specialists Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Felix Lighting Specialists Ltd. You consider that Felix Lighting Specialists Ltd 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 financial statements of Felix Lighting Specialists Ltd. 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 financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


12 September 2022

FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 225,318 196,011
225,318 196,011

CURRENT ASSETS
Stocks 311,240 257,896
Debtors 6 12,579 15,772
Cash at bank 525,122 74,799
848,941 348,467
CREDITORS
Amounts falling due within one year 7 207,754 112,387
NET CURRENT ASSETS 641,187 236,080
TOTAL ASSETS LESS CURRENT
LIABILITIES

866,505

432,091

CREDITORS
Amounts falling due after more than one
year

8

(32,387

)

(40,834

)

PROVISIONS FOR LIABILITIES 10 (15,625 ) (7,800 )
NET ASSETS 818,493 383,457

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 818,393 383,357
SHAREHOLDERS' FUNDS 818,493 383,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)

Balance Sheet - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 5 September 2022 and were signed on its behalf by:





V J L May - Director


FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)

Notes to the Financial Statements
for the year ended 31 March 2022

1. STATUTORY INFORMATION

Felix Lighting Specialists Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when goods are delivered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2014, is being amortised evenly over its useful life of five years and is now fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 10% on cost
Office Equipment - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance

Government grants
Government grants are accounted for under the accruals method, with those in relation to expenditure credited when the expenditure is charged to the profit and loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the assets if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)

Notes to the Financial Statements - continued
for the year ended 31 March 2022

2. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 10,000
AMORTISATION
At 1 April 2021
and 31 March 2022 10,000
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 -

FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)

Notes to the Financial Statements - continued
for the year ended 31 March 2022

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Office and
property Equipment fittings Totals
£    £    £    £   
COST
At 1 April 2021 175,011 5,184 53,876 234,071
Additions 52,618 5,847 3,164 61,629
At 31 March 2022 227,629 11,031 57,040 295,700
DEPRECIATION
At 1 April 2021 20,052 1,953 16,055 38,060
Charge for year 22,763 1,362 8,197 32,322
At 31 March 2022 42,815 3,315 24,252 70,382
NET BOOK VALUE
At 31 March 2022 184,814 7,716 32,788 225,318
At 31 March 2021 154,959 3,231 37,821 196,011

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 4,534 11,318
Other debtors 8,045 4,454
12,579 15,772

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 14,507 28,365
Trade creditors 20,852 14,762
Taxation and social security 162,253 60,463
Other creditors 10,142 8,797
207,754 112,387

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 32,387 40,834

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 834

Included within bank loans is a government supported bounce back loan.

FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)

Notes to the Financial Statements - continued
for the year ended 31 March 2022

9. SECURED DEBTS

Barclays Bank PLC has a fixed and floating charge over the undertaking of the company and all property and assets.

10. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 15,625 7,800

Deferred
tax
£   
Balance at 1 April 2021 7,800
Accelerated capital allowances 7,825
Balance at 31 March 2022 15,625

11. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
73 Ordinary £1 73 73
27 Ordinary A £1 27 27
100 100

All share classes have full voting and dividend rights.

12. OUTSTANDING LEASE COMMITMENTS

At the year end, the company was committed to outstanding lease payments of £108,000 (2021 - £144,000) payable over 3 years.

13. CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATES

No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.