Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28true232022-03-01falseNo description of principal activity30trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06796083 2022-03-01 2023-02-28 06796083 2023-02-28 06796083 2021-03-01 2022-02-28 06796083 2022-02-28 06796083 c:Director1 2022-03-01 2023-02-28 06796083 c:RegisteredOffice 2022-03-01 2023-02-28 06796083 d:Buildings d:ShortLeaseholdAssets 2022-03-01 2023-02-28 06796083 d:Buildings d:ShortLeaseholdAssets 2023-02-28 06796083 d:Buildings d:ShortLeaseholdAssets 2022-02-28 06796083 d:OfficeEquipment 2022-03-01 2023-02-28 06796083 d:OfficeEquipment 2023-02-28 06796083 d:OfficeEquipment 2022-02-28 06796083 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 06796083 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 06796083 d:CurrentFinancialInstruments 2023-02-28 06796083 d:CurrentFinancialInstruments 2022-02-28 06796083 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06796083 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 06796083 d:ShareCapital 2023-02-28 06796083 d:ShareCapital 2022-02-28 06796083 d:CapitalRedemptionReserve 2023-02-28 06796083 d:CapitalRedemptionReserve 2022-02-28 06796083 d:OtherMiscellaneousReserve 2023-02-28 06796083 d:OtherMiscellaneousReserve 2022-02-28 06796083 d:RetainedEarningsAccumulatedLosses 2023-02-28 06796083 d:RetainedEarningsAccumulatedLosses 2022-02-28 06796083 c:FRS102 2022-03-01 2023-02-28 06796083 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 06796083 c:FullAccounts 2022-03-01 2023-02-28 06796083 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 06796083 2 2022-03-01 2023-02-28 06796083 6 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure
Company registration number: 06796083







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 FEBRUARY 2023


FIRSTLIGHT GROUP LIMITED






































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FIRSTLIGHT GROUP LIMITED
 


 
COMPANY INFORMATION


Director
P A Davies 




Registered number
06796083



Registered office
30-31 Cowcross Street

London

EC1M 6DQ




Accountants
Menzies LLP
Chartered Accountants

1st Floor

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ





 


FIRSTLIGHT GROUP LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


FIRSTLIGHT GROUP LIMITED
REGISTERED NUMBER:06796083



STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
35,991
22,554

Investments
 5 
1
1

  
35,992
22,555

Current assets
  

Debtors: amounts falling due within one year
 6 
804,692
538,645

Cash at bank and in hand
  
1,625,596
1,328,781

  
2,430,288
1,867,426

Creditors: amounts falling due within one year
 7 
(993,806)
(881,119)

Net current assets
  
 
 
1,436,482
 
 
986,307

Total assets less current liabilities
  
1,472,474
1,008,862

Provisions for liabilities
  

Deferred tax
  
(7,497)
(4,646)

  
 
 
(7,497)
 
 
(4,646)

Net assets
  
1,464,977
1,004,216


Capital and reserves
  

Called up share capital 
  
108
108

Capital redemption reserve
  
58
58

Other reserves
  
(29,692)
(29,692)

Profit and loss account
  
1,494,503
1,033,742

  
1,464,977
1,004,216


Page 1

 


FIRSTLIGHT GROUP LIMITED
REGISTERED NUMBER:06796083


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P A Davies
Director

Date: 24 November 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


FIRSTLIGHT GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Firstlight Group Limited is a private Company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office and principal place of business is shown on the company information page. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 


FIRSTLIGHT GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 


FIRSTLIGHT GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
Over the life of the lease
Office equipment
-
20-33% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2022 - 23).

Page 5

 


FIRSTLIGHT GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Leasehold improvements
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2022
140,549
150,080
290,629


Additions
-
29,627
29,627



At 28 February 2023

140,549
179,707
320,256



Depreciation


At 1 March 2022
140,549
127,526
268,075


Charge for the year on owned assets
-
16,190
16,190



At 28 February 2023

140,549
143,716
284,265



Net book value



At 28 February 2023
-
35,991
35,991



At 28 February 2022
-
22,554
22,554


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 March 2022
1



At 28 February 2023
1




Page 6

 


FIRSTLIGHT GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
633,899
403,887

Other debtors
70,481
71,735

Prepayments and accrued income
100,312
63,023

804,692
538,645



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
43,126
35,517

Corporation tax
128,449
106,967

Other taxation and social security
109,585
73,748

Other creditors
30,384
8,074

Accruals and deferred income
682,262
656,813

993,806
881,119



8.


Commitments under operating leases

The Company had commitments under non-cancellable operating leases of £103,193 (2022 - £181,663) at the reporting date.

 
Page 7