LED Bulb World Limited 08915596 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of LED bulb sales. Digita Accounts Production Advanced 6.30.9574.0 true true 08915596 2022-04-01 2023-03-31 08915596 2023-03-31 08915596 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08915596 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 08915596 bus:SmallEntities 2022-04-01 2023-03-31 08915596 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08915596 bus:FullAccounts 2022-04-01 2023-03-31 08915596 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08915596 bus:RegisteredOffice 2022-04-01 2023-03-31 08915596 bus:Director1 2022-04-01 2023-03-31 08915596 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08915596 bus:Agent1 2022-04-01 2023-03-31 08915596 core:PatentsTrademarksLicencesConcessionsSimilar 2022-04-01 2023-03-31 08915596 countries:AllCountries 2022-04-01 2023-03-31 08915596 2022-03-31 08915596 core:PatentsTrademarksLicencesConcessionsSimilar 2022-03-31 08915596 2021-04-01 2022-03-31 08915596 2022-03-31 08915596 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 08915596

LED Bulb World Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

image-name
 

LED Bulb World Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 6

 

LED Bulb World Limited

Company Information

Director

Mr RH Taylor

Registered office

Luminous House
Newport Road
Wavendon
Milton Keynes
Buckinghamshire
MK17 8AA

Accountants

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Bucks
MK16 8HJ

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
LED Bulb World Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LED Bulb World Limited for the year ended 31 March 2023 as set out on pages 3 to 6 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that LED Bulb World Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of LED Bulb World Limited. You consider that LED Bulb World Limited 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 accounts of LED Bulb World Limited. 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 accounts.

......................................

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Bucks
MK16 8HJ

10 October 2023

 

LED Bulb World Limited

(Registration number: 08915596)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Current assets

 

Stocks

5

23,431

23,431

Cash at bank and in hand

 

3,997

4,407

 

27,428

27,838

Creditors: Amounts falling due within one year

6

(46,454)

(46,302)

Net liabilities

 

(19,026)

(18,464)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(19,027)

(18,465)

Shareholders' deficit

 

(19,026)

(18,464)

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.

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 has been taken.

Approved and authorised by the director on 10 October 2023
 

.........................................
Mr RH Taylor
Director

 

LED Bulb World Limited

Notes to the 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, 08915596.

The address of its registered office is:
Luminous House
Newport Road
Wavendon
Milton Keynes
Buckinghamshire
MK17 8AA

These financial statements were authorised for issue by the director on 10 October 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

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.

Intangible assets

Patents and trademarks have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

 

LED Bulb World Limited

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

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

Patents

20% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, including the director, was 1 (2022 - 1).

 

LED Bulb World Limited

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

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 April 2022

519

519

At 31 March 2023

519

519

Amortisation

At 1 April 2022

519

519

At 31 March 2023

519

519

Carrying amount

At 31 March 2023

-

-

5

Stocks

2023
£

2022
£

Inventory

23,431

23,431

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Intercompany

46,058

45,911

Accruals

 

396

391

 

46,454

46,302