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Registration number: 11002004

Urban Lighthouse Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Urban Lighthouse Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Urban Lighthouse Limited

Company Information

Director

L Irvine

Registered office

70 Hamilton Road
BRISTOL
BS3 1PB

Accountants

Dorrington Mundy
Chartered Accountants
5 Beauley Road
Southville
Bristol
BS3 1PX

 

Urban Lighthouse Limited

(Registration number: 11002004)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

-

7,623

Current assets

 

Debtors

7

-

4,799

Cash at bank and in hand

 

35,188

78,515

 

35,188

83,314

Creditors: Amounts falling due within one year

8

(21,461)

(75,778)

Net current assets

 

13,727

7,536

Net assets

 

13,727

15,159

Capital and reserves

 

Called up share capital

1

1

Retained earnings

13,726

15,158

Shareholders' funds

 

13,727

15,159

For the financial year ending 31 October 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 November 2023
 

.........................................
L Irvine
Director

 

Urban Lighthouse Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
70 Hamilton Road
BRISTOL
BS3 1PB
United Kingdom

These financial statements were authorised for issue by the director on 20 November 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 company has ceased to trade with effect from 31st October 2023

Revenue recognition

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Urban Lighthouse Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% reducing balance basis

Furniture

25% reducing balance basis

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

Brand Name

20% straight line basis

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. 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.

 

Urban Lighthouse Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

 

Urban Lighthouse Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 November 2022

7,766

7,766

Additions acquired separately

(7,766)

(7,766)

At 31 October 2023

-

-

Amortisation

At 1 November 2022

7,766

7,766

Amortisation eliminated on disposals

(7,766)

(7,766)

At 31 October 2023

-

-

Carrying amount

At 31 October 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

28,150

28,150

Disposals

(28,150)

(28,150)

At 31 October 2023

-

-

Depreciation

At 1 November 2022

20,527

20,527

Eliminated on disposal

(20,527)

(20,527)

At 31 October 2023

-

-

Carrying amount

At 31 October 2023

-

-

At 31 October 2022

7,623

7,623

 

Urban Lighthouse Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Stocks

2023
£

2022
£

7

Debtors

Current

2023
£

2022
£

Trade debtors

-

2,640

Prepayments

-

2,159

 

-

4,799

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

2,077

3,636

Accruals and deferred income

800

1,000

Other creditors

18,584

71,142

21,461

75,778