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REGISTERED NUMBER: 06940661 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

LIGHTING STUDIO LTD

LIGHTING STUDIO LTD (REGISTERED NUMBER: 06940661)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

LIGHTING STUDIO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: I Hayward





SECRETARY: I Hayward





REGISTERED OFFICE: Market House
21 Lenten Street
Alton
Hampshire
GU34 1HG





REGISTERED NUMBER: 06940661 (England and Wales)





ACCOUNTANTS: Wettone Matthews Limited
Chartered Certified Accountants
Market House
21 Lenten Street
Alton
GU34 1HG

LIGHTING STUDIO LTD (REGISTERED NUMBER: 06940661)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 17,232 13,671
17,232 13,671

CURRENT ASSETS
Stocks 6 42,110 41,559
Debtors 7 457,044 415,354
Cash at bank 26,734 18,693
525,888 475,606
CREDITORS
Amounts falling due within one year 8 156,916 169,401
NET CURRENT ASSETS 368,972 306,205
TOTAL ASSETS LESS CURRENT
LIABILITIES

386,204

319,876

CREDITORS
Amounts falling due after more than one
year

9

(64,500

)

(56,138

)

PROVISIONS FOR LIABILITIES 11 (3,274 ) (2,597 )
NET ASSETS 318,430 261,141

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 318,330 261,041
SHAREHOLDERS' FUNDS 318,430 261,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LIGHTING STUDIO LTD (REGISTERED NUMBER: 06940661)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 November 2023 and were signed by:





I Hayward - Director


LIGHTING STUDIO LTD (REGISTERED NUMBER: 06940661)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Lighting Studio Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, has now been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Work in progress is valued at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


LIGHTING STUDIO LTD (REGISTERED NUMBER: 06940661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 11,000
AMORTISATION
At 1 April 2022
and 31 March 2023 11,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

LIGHTING STUDIO LTD (REGISTERED NUMBER: 06940661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 56,762 6,286 6,871 69,919
Additions 7,742 - 1,578 9,320
At 31 March 2023 64,504 6,286 8,449 79,239
DEPRECIATION
At 1 April 2022 45,453 5,378 5,417 56,248
Charge for year 4,771 230 758 5,759
At 31 March 2023 50,224 5,608 6,175 62,007
NET BOOK VALUE
At 31 March 2023 14,280 678 2,274 17,232
At 31 March 2022 11,309 908 1,454 13,671

6. STOCKS
2023 2022
£    £   
Stocks 33,221 34,040
Work-in-progress 8,889 7,519
42,110 41,559

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 457,044 415,354

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,379 12,976
Trade creditors 32,366 24,287
Taxation and social security 46,992 30,190
Other creditors 74,179 101,948
156,916 169,401

LIGHTING STUDIO LTD (REGISTERED NUMBER: 06940661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 40,000 50,000
Other creditors 24,500 6,138
64,500 56,138

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 30,000 18,000
Between one and five years 30,000 15,000
60,000 33,000

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 3,274 2,597

Deferred
tax
£   
Balance at 1 April 2022 2,597
Provided during year 677
Deferred tax
Balance at 31 March 2023 3,274

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

13. RELATED PARTY DISCLOSURES

A director of the company had been given an advance, the balance as at the year ended date was £41,085 (2022: £30,585) by the company. Interest has been charged on the advance at the official rate. In the event that this person ceases to be a director of the company the advance becomes immediately payable.

The company is a related to Retro Race Car Ltd due to a mutual director. At the year the the company was owed £415,559 (2022: £383,243) by Retro Race Car Ltd. £30,000 (2022: £38,000) was written off the loan during the year..

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LIGHTING STUDIO LTD


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lighting Studio Ltd for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Lighting Studio Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lighting Studio Ltd and state those matters that we have agreed to state to the director of Lighting Studio Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Lighting Studio Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lighting Studio Ltd. You consider that Lighting Studio Ltd 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 financial statements of Lighting Studio Ltd. 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 financial statements.






Wettone Matthews Limited
Chartered Certified Accountants
Market House
21 Lenten Street
Alton
GU34 1HG


10 November 2023