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REGISTERED NUMBER: 04118510 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Lite-Mart Limited

Lite-Mart Limited (Registered number: 04118510)

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


Lite-Mart Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs G K Gandham
Mr G S Gandham





SECRETARY: Mrs G K Gandham





REGISTERED OFFICE: Rushall Hall
Leigh Road
Walsall
West Midlands
WS4 2DS





REGISTERED NUMBER: 04118510 (England and Wales)





ACCOUNTANTS: Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA

Lite-Mart Limited (Registered number: 04118510)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 718,031 611,418

CURRENT ASSETS
Debtors 5 4,284 4,284
Cash at bank 4,067 24,655
8,351 28,939
CREDITORS
Amounts falling due within one year 6 (560,829 ) (552,596 )
NET CURRENT LIABILITIES (552,478 ) (523,657 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

165,553

87,761

CREDITORS
Amounts falling due after more than
one year

7

(114,566

)

(5,000

)
NET ASSETS 50,987 82,761

CAPITAL AND RESERVES
Called up share capital 220 220
Retained earnings 50,767 82,541
50,987 82,761

Lite-Mart Limited (Registered number: 04118510)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





Mrs G K Gandham - Director


Lite-Mart Limited (Registered number: 04118510)

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


1. STATUTORY INFORMATION

Lite-Mart Limited 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.

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.

The financial statements contain information about Lite-Mart Limited as an individual company and do not contain consolidated financial statements as the parent of the group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it is considered to be the parent company of a small group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Lite-Mart Limited (Registered number: 04118510)

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme 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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 610,000 23,089 - 633,089
Additions - 370 132,781 133,151
At 31 December 2023 610,000 23,459 132,781 766,240
DEPRECIATION
At 1 January 2023 - 21,671 - 21,671
Charge for year - 590 25,948 26,538
At 31 December 2023 - 22,261 25,948 48,209
NET BOOK VALUE
At 31 December 2023 610,000 1,198 106,833 718,031
At 31 December 2022 610,000 1,418 - 611,418

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 4,284 4,284

Lite-Mart Limited (Registered number: 04118510)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 180 (1 )
Amounts owed to group undertakings 181,546 148,253
Taxation and social security 2,194 8,658
Other creditors 376,909 395,686
560,829 552,596

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 109,566 -
Other creditors 5,000 5,000
114,566 5,000

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.