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REGISTERED NUMBER: 04956761 (England and Wales)















Iberian Lighting Ltd.

Unaudited Financial Statements for the Year Ended 31 December 2023






Iberian Lighting Ltd. (Registered number: 04956761)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Iberian Lighting Ltd.

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr L J Allitt
Mr D G Pain





SECRETARY: Mr L J Allitt





REGISTERED OFFICE: Drury Lane
Ponswood Industrial Estate
St. Leonards-On-Sea
East Sussex
TN38 9XP





REGISTERED NUMBER: 04956761 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Iberian Lighting Ltd. (Registered number: 04956761)

Balance Sheet
31 December 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 158,217 145,460

CURRENT ASSETS
Stocks 83,875 99,622
Debtors 5 438,528 534,008
Cash at bank 140,974 156,977
663,377 790,607
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

166,948

304,023
NET CURRENT ASSETS 496,429 486,584
TOTAL ASSETS LESS CURRENT
LIABILITIES

654,646

632,044

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

7

(15,661

)

(25,780

)

PROVISIONS FOR LIABILITIES (39,554 ) (27,417 )
NET ASSETS 599,431 578,847

Iberian Lighting Ltd. (Registered number: 04956761)

Balance Sheet - continued
31 December 2023

2023 2022
as restated
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 520 520
Capital redemption reserve 480 480
Retained earnings 598,431 577,847
599,431 578,847

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:




Mr L J Allitt - Director



Mr D G Pain - Director


Iberian Lighting Ltd. (Registered number: 04956761)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Iberian Lighting Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures, fittings & equipment - 25% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Iberian Lighting Ltd. (Registered number: 04956761)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company pays contributions into employees' personal pension schemes. Payments made are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 22 ) .

Iberian Lighting Ltd. (Registered number: 04956761)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures,
Plant and fittings Motor
machinery & equipment vehicles Totals
£    £    £    £   
COST
At 1 January 2023 445,004 36,818 60,393 542,215
Additions 35,523 6,171 53,370 95,064
Disposals - (8,756 ) (52,570 ) (61,326 )
At 31 December 2023 480,527 34,233 61,193 575,953
DEPRECIATION
At 1 January 2023 336,623 29,340 30,792 396,755
Charge for year 35,976 3,410 13,351 52,737
Eliminated on disposal - (8,756 ) (23,000 ) (31,756 )
At 31 December 2023 372,599 23,994 21,143 417,736
NET BOOK VALUE
At 31 December 2023 107,928 10,239 40,050 158,217
At 31 December 2022 108,381 7,478 29,601 145,460

5. DEBTORS
2023 2022
as restated
£    £   
Amounts falling due within one year:
Trade debtors 43,055 131,610
Other debtors 11,580 11,305
54,635 142,915

Amounts falling due after more than one year:
Other debtors 383,893 391,093

Aggregate amounts 438,528 534,008

Iberian Lighting Ltd. (Registered number: 04956761)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 10,119 9,870
Trade creditors 11,338 63,769
Taxation and social security 70,473 95,784
Other creditors 75,018 134,600
166,948 304,023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£    £   
Bank loans 15,661 25,780

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £

240 Ordinary A £1 240 240
240 Ordinary B £1 240 240
40 Ordinary C £1 40 40
520 520

All shares rank pari passu in all respects.

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed amounts totalling £69,205 (2022 - £122,827) to the directors. These amounts are interest free, unsecured and repayable on demand.

During the year the company made loans to a company with similar directors and shareholders totalling £3,305 (2022 - £118,858) and was repaid £10,505 (2022 - £36,353).
At the balance sheet date the company owed Iberian Lighting Limited £383,893 (2022 - £391,093) This loan is unsecured, interest free and repayable on demand.

During the year the company paid dividends totalling £nil (2022 - £13,000) to the directors.