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Registered Number: 03945883
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 June 2023

for

LIGHT IDEAS INTERNATIONAL LIMITED

Accountants report

You consider that the company is exempt from an audit for the year ended 30 June 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

Douglas Marshall
30 June 2023



....................................................
Wyre Business Consultants Limited
26 Church Street
Kidderminster
Worcestershire
DY10 2AR
13 March 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 34,591    85,154 
34,591    85,154 
Current assets      
Stocks 504,006    517,052 
Debtors 1,330,131    1,386,588 
Cash at bank and in hand 410,029    378,723 
2,244,166    2,282,363 
Creditors: amount falling due within one year (601,597)   (487,832)
Net current assets 1,642,569    1,794,531 
 
Total assets less current liabilities 1,677,160    1,879,685 
Provisions for liabilities (6,572)   (16,179)
Net assets 1,670,588    1,863,506 
 

Capital and reserves
     
Called up share capital 4 40    40 
Capital Redemption Reserve 60    60 
Profit and loss account 1,670,488    1,863,406 
Shareholder's funds 1,670,588    1,863,506 
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 13 March 2024 and were signed on its behalf by:


-------------------------------
Anita Wright
Director
2
General Information
Light Ideas International Limited is a private company, limited by shares, registered in England and Wales, registration number 03945883, registration address Heath House Bewdley Business Park, Long Bank, Bewdley, Worcestershire, DY12 2TZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Fixtures and Fittings 25% Straight Line
Computer Equipment 33% Straight Line
Improvements to property 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 16 (2022 : 15).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Improvements to property   Total
  £   £   £   £   £   £
At 01 July 2022 16,456    123,839    102,250    47,519    156,286    446,350 
Additions 3,133      8,506    1,248      12,887 
Disposals   (49,995)         (49,995)
At 30 June 2023 19,589    73,844    110,756    48,767    156,286    409,242 
Depreciation
At 01 July 2022 13,933    54,318    99,799    40,235    152,912    361,197 
Charge for year 3,307    10,675    3,950    4,647    3,374    25,953 
On disposals   (12,499)         (12,499)
At 30 June 2023 17,240    52,494    103,749    44,882    156,286    374,651 
Net book values
Closing balance as at 30 June 2023 2,349    21,350    7,007    3,885      34,591 
Opening balance as at 01 July 2022 2,523    69,521    2,451    7,284    3,375    85,154 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
40 Class A shares of £1.00 each 40    40 
40    40 

3