Registered number
04938677
In-Light Limited
Filleted Accounts
31 July 2023
In-Light Limited
Registered number: 04938677
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 136,136 134,118
Current assets
Stocks 21,344 23,750
Debtors 5 18,624 22,549
Cash at bank and in hand 550,439 449,717
590,407 496,016
Creditors: amounts falling due within one year 6 (85,029) (73,088)
Net current assets 505,378 422,928
Total assets less current liabilities 641,514 557,046
Provisions for liabilities (3,926) (2,632)
Net assets 637,588 554,414
Capital and reserves
Called up share capital 100 100
Profit and loss account 637,488 554,314
Shareholders' funds 637,588 554,414
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Emmanuel D S Norland
Director
Approved by the board on 22 February 2024
In-Light Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 69,500
At 31 July 2023 69,500
Amortisation
At 1 August 2022 69,500
At 31 July 2023 69,500
Net book value
At 31 July 2023 -
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 134,600 164,028 298,628
Additions - 7,339 7,339
At 31 July 2023 134,600 171,367 305,967
Depreciation
At 1 August 2022 15,666 148,844 164,510
Charge for the year 1,492 3,829 5,321
At 31 July 2023 17,158 152,673 169,831
Net book value
At 31 July 2023 117,442 18,694 136,136
At 31 July 2022 118,934 15,184 134,118
5 Debtors 2023 2022
£ £
Trade debtors 2,756 4,332
Other debtors 15,868 18,217
18,624 22,549
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 17,080 2,935
Taxation and social security costs 45,756 41,207
Other creditors 22,193 28,946
85,029 73,088
7 Other information
In-Light Limited is a private company limited by shares and incorporated in England. Its registered office is:
Orchard Leigh
Rodborough Hill
Stroud
GLos
GL5 3SS
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