LIGHTNING PERFORMANCE LIMITED

Company Registration Number:
06223428 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2023

Period of accounts

Start date: 01 May 2022

End date: 30 April 2023

LIGHTNING PERFORMANCE LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2023

Balance sheet
Notes

LIGHTNING PERFORMANCE LIMITED

Balance sheet

As at 30 April 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 13,982 100
Total fixed assets: 13,982 100
Current assets
Stocks:   90,250
Debtors:   827,000 820,000
Cash at bank and in hand: 122,093 157,986
Total current assets: 949,093 1,068,236
Creditors: amounts falling due within one year:   (3,951) (58,565)
Net current assets (liabilities): 945,142 1,009,671
Total assets less current liabilities: 959,124 1,009,771
Creditors: amounts falling due after more than one year:     (42,014)
Total net assets (liabilities): 959,124 967,757
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 959,123 967,756
Shareholders funds: 959,124 967,757

The notes form part of these financial statements

LIGHTNING PERFORMANCE LIMITED

Balance sheet statements

For the year ending 30 April 2023 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 02 June 2023
and signed on behalf of the board by:

Name: William George Blackham
Status: Director

The notes form part of these financial statements

LIGHTNING PERFORMANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

LIGHTNING PERFORMANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

LIGHTNING PERFORMANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

3. Tangible Assets

Total
Cost £
At 01 May 2022 100
Additions 18,542
At 30 April 2023 18,642
Depreciation
At 01 May 2022 0
Charge for year 4,660
At 30 April 2023 4,660
Net book value
At 30 April 2023 13,982
At 30 April 2022 100