THE LIGHTYEAR CORPORATION LTD

Company Registration Number:
NI648586 (Northern Ireland)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

THE LIGHTYEAR CORPORATION LTD

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

THE LIGHTYEAR CORPORATION LTD

Balance sheet

As at 30 June 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 11,772 9,451
Total fixed assets: 11,772 9,451
Current assets
Debtors:   302,397 149,895
Cash at bank and in hand: 474,549 219,979
Total current assets: 776,946 369,874
Creditors: amounts falling due within one year: 4 (240,785) (232,021)
Net current assets (liabilities): 536,161 137,853
Total assets less current liabilities: 547,933 147,304
Creditors: amounts falling due after more than one year: 5 (38,439) (150,054)
Total net assets (liabilities): 509,494 (2,750)
Capital and reserves
Called up share capital: 2,161 2,135
Profit and loss account: 507,333 (4,885)
Shareholders funds: 509,494 (2,750)

The notes form part of these financial statements

THE LIGHTYEAR CORPORATION LTD

Balance sheet statements

For the year ending 30 June 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 25 October 2023
and signed on behalf of the board by:

Name: Christopher James Gregg
Status: Director

The notes form part of these financial statements

THE LIGHTYEAR CORPORATION LTD

Notes to the Financial Statements

for the Period Ended 30 June 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

THE LIGHTYEAR CORPORATION LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

2023 2022
Average number of employees during the period 40 25

THE LIGHTYEAR CORPORATION LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible Assets

Total
Cost £
At 01 July 2022 31,532
Additions 7,522
Revaluations (447)
At 30 June 2023 38,607
Depreciation
At 01 July 2022 22,081
Charge for year 4,754
At 30 June 2023 26,835
Net book value
At 30 June 2023 11,772
At 30 June 2022 9,451

THE LIGHTYEAR CORPORATION LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Creditors: amounts falling due within one year note

VAT £50,827 (2022: £19,146)Trade creditors £4,490 (2022: £150,808)Taxes and social security £75,273 (2022: £62,067)Accruals £110,195 (2022: £Nil)

THE LIGHTYEAR CORPORATION LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Creditors: amounts falling due after more than one year note

Bank loans £38,439 (2022: £50,054)Other creditors £Nil (2022: £100,000)

THE LIGHTYEAR CORPORATION LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

6. Related party transactions

All sales represent income received from companies under common beneficial ownership and control, Lightyear Cloud UK Ltd NI648587 (£891,667) and Lightyear Cloud Australia Pty Ltd ABN 68 622 231 903 (£1,455,000)