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REGISTERED NUMBER: 08410254 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Artech Lighting Limited

Artech Lighting Limited (Registered number: 08410254)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Artech Lighting Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: D F Lewis
S Hylton
J M Lewis





REGISTERED OFFICE: St John's Road
Meadowfield Industrial Estate
Durham
DH7 8RJ





REGISTERED NUMBER: 08410254 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Artech Lighting Limited (Registered number: 08410254)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 186,999 214,110

CURRENT ASSETS
Stocks 668,054 558,585
Debtors 5 682,690 656,100
Cash at bank 748,579 79,219
2,099,323 1,293,904
CREDITORS
Amounts falling due within one year 6 675,281 835,557
NET CURRENT ASSETS 1,424,042 458,347
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,611,041

672,457

CREDITORS
Amounts falling due after more than one
year

7

(218,607

)

(307,105

)

PROVISIONS FOR LIABILITIES 9 (46,750 ) (40,681 )
NET ASSETS 1,345,684 324,671

CAPITAL AND RESERVES
Called up share capital 10 108 108
Retained earnings 1,345,576 324,563
SHAREHOLDERS' FUNDS 1,345,684 324,671

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

Artech Lighting Limited (Registered number: 08410254)

Balance Sheet - continued
30 April 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2023 and were signed on its behalf by:





S Hylton - Director


Artech Lighting Limited (Registered number: 08410254)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Artech Lighting Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group or those at a market rate.

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

Income recognition
Turnover from the sale of goods is recognised on delivery of goods when the risks and rewards of ownership of the goods has transferred to the customer.

Government Grants
Revenue based grants have been credited to the profit and loss account in the period to which they relate. Capital based grants are accounted for using the accruals model and have been transferred to a deferred credit and released to the profit and loss account over the useful life of the asset.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Computer equipment - 20% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

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

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.


Artech Lighting Limited (Registered number: 08410254)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 15 ) .

Artech Lighting Limited (Registered number: 08410254)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 May 2022 237,172 12,196 249,368
Additions 19,598 6,243 25,841
At 30 April 2023 256,770 18,439 275,209
DEPRECIATION
At 1 May 2022 31,746 3,512 35,258
Charge for year 50,056 2,896 52,952
At 30 April 2023 81,802 6,408 88,210
NET BOOK VALUE
At 30 April 2023 174,968 12,031 186,999
At 30 April 2022 205,426 8,684 214,110

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 May 2022
and 30 April 2023 127,950
DEPRECIATION
At 1 May 2022 4,265
Charge for year 25,590
At 30 April 2023 29,855
NET BOOK VALUE
At 30 April 2023 98,095
At 30 April 2022 123,685

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 637,075 573,437
Other debtors 14,302 14,302
Prepayments 31,313 68,361
682,690 656,100

Artech Lighting Limited (Registered number: 08410254)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 60,000 60,000
Hire purchase contracts 21,553 19,985
Trade creditors 190,524 369,746
Amounts owed to related undertakings 26,635 253,289
Taxation and social security 326,437 29,149
Other creditors 1,362 747
Directors' current accounts - 90,000
Accruals and deferred income 41,825 5,696
Deferred government grants 6,945 6,945
675,281 835,557

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 60,000 60,000
Bank loans - 2-5 years 70,000 130,000
Hire purchase contracts 71,823 93,376
Deferred government grants 16,784 23,729
218,607 307,105

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 190,000 250,000
Hire purchase contracts 93,376 113,361
283,376 363,361

Bank loans are secured over the assets of the company.

Hire purchase contracts are secured over the assets to which they relate.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 46,750 40,681

Deferred
tax
£   
Balance at 1 May 2022 40,681
Accelerated capital allowances 6,069
Balance at 30 April 2023 46,750

Artech Lighting Limited (Registered number: 08410254)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
210 Ordinary shares £0.50 105 105
2 Ordinary A shares £1 2 2
1 Ordinary B shares £1 1 1
108 108

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £42,000 were paid to the directors .

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.

2022 2022
£ £
Amounts due to/(from) director 0 90,000
No interest has been charged.