Registered number
06731815
HFM Lighting Limited
Filleted Accounts
29 December 2022
HFM Lighting Limited
Registered number: 06731815
Balance Sheet
as at 29 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 14,700 18,529
Current assets
Debtors 4 136,801 134,376
Cash at bank and in hand 6,208 5,362
143,009 139,738
Creditors: amounts falling due within one year 5 (252,440) (217,235)
Net current liabilities (109,431) (77,497)
Total assets less current liabilities (94,731) (58,968)
Creditors: amounts falling due after more than one year 6 (39,105) (45,714)
Net liabilities (133,836) (104,682)
Capital and reserves
Called up share capital 2 2
Profit and loss account (133,838) (104,684)
Shareholders' funds (133,836) (104,682)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Hugh Frazer-Mann
Director
Approved by the board on 24 October 2023
HFM Lighting Limited
Notes to the Accounts
for the period from 1 January 2022 to 29 December 2022
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2022 260,063 27,626 287,689
Additions - 1,070 1,070
At 29 December 2022 260,063 28,696 288,759
Depreciation
At 1 January 2022 245,389 23,771 269,160
Charge for the period 3,668 1,231 4,899
At 29 December 2022 249,057 25,002 274,059
Net book value
At 29 December 2022 11,006 3,694 14,700
At 31 December 2021 14,674 3,855 18,529
4 Debtors 2022 2021
£ £
Trade debtors - 14,546
Other debtors 136,801 119,830
136,801 134,376
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 105,655 80,862
Taxation and social security costs (8,499) 858
Other creditors 155,284 135,515
252,440 217,235
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 39,105 45,714
7 Other information
HFM Lighting Limited is a private company limited by shares and incorporated in England. Its registered office is:
228 Park Road
Kingston
Surrey
KT2 5LS
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