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REGISTERED NUMBER: 08421936 (England and Wales)













Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Lite Installations Ltd

Lite Installations Ltd (Registered number: 08421936)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Lite Installations Ltd

Company Information
for the year ended 29 February 2024







DIRECTORS: P Buckley
N R Graham





REGISTERED OFFICE: Unit 2,Farrington Place
Rossendale Rd Industrial Estate
Burnley
Lancashire
BB11 5TY





REGISTERED NUMBER: 08421936 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

Lite Installations Ltd (Registered number: 08421936)

Abridged Balance Sheet
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,390 5,474

CURRENT ASSETS
Debtors 33,998 47,582
Cash at bank 1,588 690
35,586 48,272
CREDITORS
Amounts falling due within one year 16,278 30,108
NET CURRENT ASSETS 19,308 18,164
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,698

23,638

CREDITORS
Amounts falling due after more than one year (21,601 ) (21,601 )

PROVISIONS FOR LIABILITIES (629 ) (790 )
NET ASSETS 1,468 1,247

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings 1,368 1,147
SHAREHOLDERS' FUNDS 1,468 1,247

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Lite Installations Ltd (Registered number: 08421936)

Abridged Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 5 April 2024 and were signed on its behalf by:





P Buckley - Director


Lite Installations Ltd (Registered number: 08421936)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Lite Installations 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.

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
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

The company sells electrical contract services to the a variety of customers. Revenue is recognised in the accounting period in which the services are rendered when the outcome of contract can be estimated reliably.

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 - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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 Installations Ltd (Registered number: 08421936)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 12,976
Additions 261
At 29 February 2024 13,237
DEPRECIATION
At 1 March 2023 7,502
Charge for year 1,345
At 29 February 2024 8,847
NET BOOK VALUE
At 29 February 2024 4,390
At 28 February 2023 5,474

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
100 Ordinary £1 100 100