Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-302022-07-01falseNo description of principal activity43falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09098341 2022-07-01 2023-06-30 09098341 2021-07-01 2022-06-30 09098341 2023-06-30 09098341 2022-06-30 09098341 c:Director2 2022-07-01 2023-06-30 09098341 d:OfficeEquipment 2022-07-01 2023-06-30 09098341 d:OfficeEquipment 2023-06-30 09098341 d:OfficeEquipment 2022-06-30 09098341 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09098341 d:ComputerEquipment 2022-07-01 2023-06-30 09098341 d:ComputerEquipment 2023-06-30 09098341 d:ComputerEquipment 2022-06-30 09098341 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09098341 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09098341 d:Goodwill 2023-06-30 09098341 d:Goodwill 2022-06-30 09098341 d:CurrentFinancialInstruments 2023-06-30 09098341 d:CurrentFinancialInstruments 2022-06-30 09098341 d:Non-currentFinancialInstruments 2023-06-30 09098341 d:Non-currentFinancialInstruments 2022-06-30 09098341 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 09098341 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 09098341 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 09098341 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 09098341 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 09098341 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 09098341 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 09098341 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 09098341 d:ShareCapital 2023-06-30 09098341 d:ShareCapital 2022-06-30 09098341 d:RetainedEarningsAccumulatedLosses 2023-06-30 09098341 d:RetainedEarningsAccumulatedLosses 2022-06-30 09098341 c:FRS102 2022-07-01 2023-06-30 09098341 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 09098341 c:FullAccounts 2022-07-01 2023-06-30 09098341 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 09098341 d:WithinOneYear 2023-06-30 09098341 d:WithinOneYear 2022-06-30 09098341 d:BetweenOneFiveYears 2023-06-30 09098341 d:BetweenOneFiveYears 2022-06-30 09098341 2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure
Registered number: 09098341









ONE EIGHTY LIGHT LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023














 
ONE EIGHTY LIGHT LTD
REGISTERED NUMBER:09098341

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
3,431
3,252

  
3,431
3,252

Current assets
  

Stocks
 6 
27,984
29,510

Debtors: amounts falling due within one year
 7 
21,196
5,951

Cash at bank and in hand
  
10
158

  
49,190
35,619

Creditors: amounts falling due within one year
 8 
(318,514)
(233,727)

Net current liabilities
  
 
 
(269,324)
 
 
(198,108)

Total assets less current liabilities
  
(265,893)
(194,856)

Creditors: amounts falling due after more than one year
 9 
(45,950)
(39,522)

  

Net liabilities
  
(311,843)
(234,378)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(311,943)
(234,478)

  
(311,843)
(234,378)


Page 1

 
ONE EIGHTY LIGHT LTD
REGISTERED NUMBER:09098341
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The directors consider 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 directors acknowledge their 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 statement of income and retained earnings 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 on 3 April 2024.




S Lisk
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
ONE EIGHTY LIGHT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

One Eighty Light Ltd is a private company, limited by shares domiciled in England and Wales, registration number 09098341. The registered office is Courtenay House, Pynes Hill, Exeter, England, EX2 5AZ.

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

Going concern

The accounts to 30 June 2023 show the company in a net liability position. Despite this, the directors fully support the company. They have, therefore, concluded it is a going concern. 

 
2.3

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'.

Page 3

 
ONE EIGHTY LIGHT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.5

Interest income

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

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
ONE EIGHTY LIGHT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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.

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:

Office equipment
-
25%
Straight Line
Computer equipment
-
25%
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.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 5

 
ONE EIGHTY LIGHT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 3).

Page 6

 
ONE EIGHTY LIGHT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2022
42,537



At 30 June 2023

42,537



Amortisation


At 1 July 2022
42,537



At 30 June 2023

42,537



Net book value



At 30 June 2023
-



At 30 June 2022
-



Page 7

 
ONE EIGHTY LIGHT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 July 2022
9,091
12,481
21,572


Additions
460
1,314
1,774


Disposals
(177)
(1,215)
(1,392)



At 30 June 2023

9,374
12,580
21,954



Depreciation


At 1 July 2022
8,669
9,651
18,320


Charge for the year on owned assets
304
1,291
1,595


Disposals
(177)
(1,215)
(1,392)



At 30 June 2023

8,796
9,727
18,523



Net book value



At 30 June 2023
578
2,853
3,431



At 30 June 2022
422
2,830
3,252


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
27,984
29,510

27,984
29,510



7.


Debtors

2023
2022
£
£


Trade debtors
19,392
4,423

Other debtors
584
-

Prepayments and accrued income
1,220
1,528
Page 8

 
ONE EIGHTY LIGHT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.Debtors (continued)


21,196
5,951



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
7,596
4,915

Bank loans
9,949
9,768

Other loans
6,628
12,360

Payments received on account
5,246
13,011

Trade creditors
45,612
57,510

Other taxation and social security
108,078
115,298

Other creditors
130,953
15,865

Accruals and deferred income
4,452
5,000

318,514
233,727



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
22,572
29,923

Other loans
23,378
9,599

45,950
39,522


Page 9

 
ONE EIGHTY LIGHT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,949
9,768

Other loans
6,628
12,360


16,577
22,128

Amounts falling due 1-2 years

Bank loans
10,200
10,015

Other loans
4,553
9,599


14,753
19,614

Amounts falling due 2-5 years

Bank loans
12,372
19,908

Other loans
18,825
-


31,197
19,908


62,527
61,650



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,103 (2022 - £1,750). Contributions totalling £329 (2022 - £294) were payable to the fund at the balance sheet date and are included in creditors.

Page 10

 
ONE EIGHTY LIGHT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

12.


Commitments under operating leases

At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
6,007
6,007

Later than 1 year and not later than 5 years
2,003
8,010

8,010
14,017

 
Page 11