Company Registration No. 03490017 (England and Wales)
NuLite Ltd
Unaudited accounts
for the year ended 30 June 2023
NuLite Ltd
Unaudited accounts
Contents
NuLite Ltd
Company Information
for the year ended 30 June 2023
Company Number
03490017 (England and Wales)
Registered Office
28 BIDDICK VILLAGE CENTRE
BIDDICK
WASHINGTON
TYNE & WEAR
NE38 7NP
Accountants
Taxman Solutions
42 Hayston Road
Cumbernauld
Glasgow
G68 0BS
NuLite Ltd
Accountants' report
Accountants' report to the director of NuLite Ltd on the preparation of the unaudited statutory accounts for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
NuLite Ltd for the year ended
30 June 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of NuLite Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of NuLite Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NuLite Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that NuLite Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of NuLite Ltd. You consider that NuLite 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 accounts of NuLite 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 accounts.
Taxman Solutions
42 Hayston Road
Cumbernauld
Glasgow
G68 0BS
13 March 2024
NuLite Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
186,764
217,863
Investment property
92,939
92,939
Investments
1,000,000
1,618,302
Inventories
2,425,850
2,521,382
Debtors
3,680,991
2,704,122
Cash at bank and in hand
2,472,816
2,553,164
Creditors: amounts falling due within one year
(634,344)
(1,131,270)
Net current assets
7,945,313
6,647,398
Net assets
9,225,016
8,576,502
Called up share capital
100
100
Profit and loss account
9,224,916
8,576,402
Shareholders' funds
9,225,016
8,576,502
For the year ending 30 June 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 March 2024 and were signed on its behalf by
Mr W Harris
Director
Company Registration No. 03490017
NuLite Ltd
Notes to the Accounts
for the year ended 30 June 2023
NuLite Ltd is a private company, limited by shares, registered in England and Wales, registration number 03490017. The registered office is 28 BIDDICK VILLAGE CENTRE, BIDDICK, WASHINGTON, TYNE & WEAR, NE38 7NP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% on cost
Plant & machinery
10% on cost
Motor vehicles
20% on cost
Fixtures & fittings
20% on cost
Computer equipment
20% on cost
NuLite Ltd
Notes to the Accounts
for the year ended 30 June 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 July 2022
28,706
270,808
227,013
30,495
30,099
587,121
Additions
10,750
7,815
-
368
10,341
29,274
At 30 June 2023
39,456
278,623
227,013
30,863
40,440
616,395
At 1 July 2022
15,494
167,206
138,994
25,406
22,158
369,258
Charge for the year
3,139
22,171
28,219
2,684
4,160
60,373
At 30 June 2023
18,633
189,377
167,213
28,090
26,318
429,631
At 30 June 2023
20,823
89,246
59,800
2,773
14,122
186,764
At 30 June 2022
13,212
103,602
88,019
5,089
7,941
217,863
Fair value at 1 July 2022
92,939
6
Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 July 2022
1,000,000
618,302
1,618,302
Disposals
-
(618,302)
(618,302)
Valuation at 30 June 2023
1,000,000
-
1,000,000
Subsidiary undertaking
The company's investment in its subsidiary company represents the cost of acquisition of the whole of the ordinary share capital of Nulite Properties Ltd (12804507), which develops and rents its own property.
Other investments
Other investments comprise investments listed on the London Stock Exchange, the market value of which at 30 June 2023 amounted to £0 (£618,302 at 30 June 2022), following the complete encashment of the investment during the year.
Amounts falling due within one year
Trade debtors
261,245
230,410
Accrued income and prepayments
8,289
1,830
Other debtors
18,030
8,000
Amounts falling due after more than one year
Amounts due from group undertakings etc.
3,393,427
2,463,882
NuLite Ltd
Notes to the Accounts
for the year ended 30 June 2023
8
Creditors: amounts falling due within one year
2023
2022
Trade creditors
57,394
220,812
Taxes and social security
130,254
9,136
Loans from directors
275,904
785,819
9
Average number of employees
During the year the average number of employees was 17 (2022: 20).