Eurolighting Ltd 02384192 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is production of lights. Digita Accounts Production Advanced 6.30.9574.0 true 02384192 2022-04-01 2023-03-31 02384192 2023-03-31 02384192 core:RetainedEarningsAccumulatedLosses 2023-03-31 02384192 core:ShareCapital 2023-03-31 02384192 core:CurrentFinancialInstruments 2023-03-31 02384192 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 02384192 core:Goodwill 2023-03-31 02384192 core:FurnitureFittingsToolsEquipment 2023-03-31 02384192 core:LandBuildings 2023-03-31 02384192 core:MotorVehicles 2023-03-31 02384192 bus:SmallEntities 2022-04-01 2023-03-31 02384192 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 02384192 bus:FullAccounts 2022-04-01 2023-03-31 02384192 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 02384192 bus:RegisteredOffice 2022-04-01 2023-03-31 02384192 bus:Director1 2022-04-01 2023-03-31 02384192 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02384192 core:Goodwill 2022-04-01 2023-03-31 02384192 core:FurnitureFittings 2022-04-01 2023-03-31 02384192 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 02384192 core:LandBuildings 2022-04-01 2023-03-31 02384192 core:LeaseholdImprovements 2022-04-01 2023-03-31 02384192 core:MotorVehicles 2022-04-01 2023-03-31 02384192 core:OfficeEquipment 2022-04-01 2023-03-31 02384192 countries:EnglandWales 2022-04-01 2023-03-31 02384192 2022-03-31 02384192 core:Goodwill 2022-03-31 02384192 core:FurnitureFittingsToolsEquipment 2022-03-31 02384192 core:LandBuildings 2022-03-31 02384192 core:MotorVehicles 2022-03-31 02384192 2021-04-01 2022-03-31 02384192 2022-03-31 02384192 core:RetainedEarningsAccumulatedLosses 2022-03-31 02384192 core:ShareCapital 2022-03-31 02384192 core:CurrentFinancialInstruments 2022-03-31 02384192 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 02384192 core:FurnitureFittingsToolsEquipment 2022-03-31 02384192 core:LandBuildings 2022-03-31 02384192 core:MotorVehicles 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 02384192

Eurolighting Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Eurolighting Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Eurolighting Ltd

(Registration number: 02384192)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

-

Tangible assets

5

37,273

24,845

 

37,273

24,845

Current assets

 

Stocks

6

281,399

289,843

Debtors

7

967,104

788,944

Cash at bank and in hand

 

353,832

305,278

 

1,602,335

1,384,065

Creditors: Amounts falling due within one year

8

(348,049)

(354,568)

Net current assets

 

1,254,286

1,029,497

Total assets less current liabilities

 

1,291,559

1,054,342

Provisions for liabilities

(4,159)

(1,611)

Net assets

 

1,287,400

1,052,731

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

1,287,300

1,052,631

Shareholders' funds

 

1,287,400

1,052,731

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Eurolighting Ltd

(Registration number: 02384192)
Balance Sheet as at 31 March 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the director on 3 October 2023
 

.........................................
J Hunt
Director

 

Eurolighting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Euro House
Cold Meece
Stone
Staffordshire
ST15 0QN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Eurolighting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to property

10% on cost

Fixtures and fittings

15% on reducing balance

Office equipment

25% on reducing balance

Motor vehicles

25% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Fully amortised

 

Eurolighting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2022 - 13).

 

Eurolighting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

7,000

7,000

At 31 March 2023

7,000

7,000

Amortisation

At 1 April 2022

7,000

7,000

At 31 March 2023

7,000

7,000

Carrying amount

At 31 March 2023

-

-

5

Tangible assets

Leasehold improvements
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

28,906

65,279

35,750

129,935

Additions

-

3,043

19,650

22,693

At 31 March 2023

28,906

68,322

55,400

152,628

Depreciation

At 1 April 2022

27,330

45,590

32,170

105,090

Charge for the year

178

4,280

5,807

10,265

At 31 March 2023

27,508

49,870

37,977

115,355

Carrying amount

At 31 March 2023

1,398

18,452

17,423

37,273

At 31 March 2022

1,576

19,689

3,580

24,845

 

Eurolighting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Stocks

2023
£

2022
£

Work in progress

-

41,889

Stock

281,399

247,954

281,399

289,843

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

387,318

206,905

Amounts owed by related parties

575,691

578,089

Prepayments

 

3,195

3,050

Other debtors

 

900

900

 

967,104

788,944

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

143,966

186,444

Taxation and social security

196,847

97,940

Accruals and deferred income

4,324

13,604

Other creditors

2,912

56,580

348,049

354,568

9

Financial commitments, guarantees and contingencies

Financial guarantee

During the year the company had given a cross guarantee against a liability of the parent company. The maximum potential liability as at the year end was £89,988 (2022 - £269,988).