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REGISTERED NUMBER: 05735653 (England and Wales)















Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 March 2023

for

Northgate Lighting Limited

Northgate Lighting Limited (Registered number: 05735653)






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




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Northgate Lighting Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: A Lee





SECRETARY: R Eastwood





REGISTERED OFFICE: Unit 1, Edison Business Centre Ring Road
Bramley
Leeds
LS13 4ET





REGISTERED NUMBER: 05735653 (England and Wales)





AUDITORS: Q&K Auditors Ltd
14 Clifton Moor Business Village
James Nicolson Link
York
YO30 4XG

Northgate Lighting Limited (Registered number: 05735653)

Strategic Report
for the Year Ended 31 March 2023

The director presents his strategic report for the year ended 31 March 2023.

REVIEW OF BUSINESS
Northgate Lighting Limited's principal activity is the supply of products to the electrical wholesale market. Delivering an excellent personal service and providing an extensive range of products means we're one of the leading suppliers of LED lamps, fittings, lighting spares, batteries, emergency lighting products, as well as a comprehensive range of conventional and traditional lamps.

The cost of freight has eased throughout the year helping improve product margin. However, the increase in National Minimum Wage continues to drive up employment costs. Our teams focus on the 3 strategic objectives are helping to balance the effects of these factors:

- Improve margin by improving efficiencies
- Reduce low margin sales activities
- Automate processes

For the 3rd year, these have resulted in positive outcomes

- Gross Margin improved from 24.3% to 28.1%
- Administration Expenses increased just 0.9%
In summary, we are pleased with the improvements made in the business this year and to look forward to further enhancing our customer journey in 2023/24

Employee Ownership Trust

In November 2023 the company established Northgate Lighting Employee Ownership Trust with the objective of ensuring that shares in the company are held by the Trustees for the benefit of the company's employees. Employees will have an interest in the company's business, a voice in the operations and in the longer term a share of its profits.

PRINCIPAL RISKS AND UNCERTAINTIES
The main risks and uncertainties centre on customer demand, product pricing, liquidity, and credit risk. The company works closely with stock suppliers to ensure a consistent and reliable supply of product.

The company monitors and forecasts cash flow as part of its day-to-day control procedures. Credit risk is managed by carrying out credit checks on new and existing customers

FUTURE DEVELOPMENTS
The company's strategy remains centred on continued product development.

In summary, we are very well placed to meet the needs of our customers. Our highly experienced teams in Procurement, Sales and Logistics adapt well to the constant changes in the industry.

ON BEHALF OF THE BOARD:





A Lee - Director


12 March 2024

Northgate Lighting Limited (Registered number: 05735653)

Report of the Director
for the Year Ended 31 March 2023

The director presents his report with the financial statements of the company for the year ended 31 March 2023.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2023 will be £25,000.

DIRECTOR
A Lee held office during the whole of the period from 1 April 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Q&K Auditors Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A Lee - Director


12 March 2024

Report of the Independent Auditors to the Members of
Northgate Lighting Limited

Opinion
We have audited the financial statements of Northgate Lighting Limited (the 'company') for the year ended 31 March 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Northgate Lighting Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that most significant are those that relate to the financial reporting framework, namely FRS102 and the Companies Act 2006.

We understood how the company is complying with those frameworks by making enquiries of management as to their procedures for identifying and responding to fraud risks.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur by considering the risk of management override. We considered the controls the company has established to address risk identified by management, or that otherwise seek to prevent, detect or deter fraud and how management monitor those controls.

Based on our understanding, we designed audit procedures to identify non-compliance with laws and regulations. Our procedures included journal entry testing based on our risk assessment, analytical procedures to identify unusual relationships that may indicate the risk of material misstatement and challenging the assumptions and judgements made by management in respect of significant accounting estimates.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Northgate Lighting Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Rob Ormiston (Senior Statutory Auditor)
for and on behalf of Q&K Auditors Ltd
14 Clifton Moor Business Village
James Nicolson Link
York
YO30 4XG

12 March 2024

Northgate Lighting Limited (Registered number: 05735653)

Income Statement
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

TURNOVER 8,618,499 10,823,986

Cost of sales 6,170,441 8,192,540
GROSS PROFIT 2,448,058 2,631,446

Administrative expenses 1,710,380 1,695,094
737,678 936,352

Other operating income 678,004 214,863
OPERATING PROFIT 4 1,415,682 1,151,215


Interest payable and similar expenses 6 45,238 28,181
PROFIT BEFORE TAXATION 1,370,444 1,123,034

Tax on profit 7 270,091 228,177
PROFIT FOR THE FINANCIAL YEAR 1,100,353 894,857

Northgate Lighting Limited (Registered number: 05735653)

Other Comprehensive Income
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

PROFIT FOR THE YEAR 1,100,353 894,857


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,100,353

894,857

Northgate Lighting Limited (Registered number: 05735653)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 1,667,042 1,702,091

CURRENT ASSETS
Stocks 10 2,037,307 2,419,915
Debtors 11 1,966,489 1,782,209
Cash at bank and in hand 503,363 271,285
4,507,159 4,473,409
CREDITORS
Amounts falling due within one year 12 1,588,150 2,099,405
NET CURRENT ASSETS 2,919,009 2,374,004
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,586,051

4,076,095

CREDITORS
Amounts falling due after more than one
year

13

(733,430

)

(1,306,211

)

PROVISIONS FOR LIABILITIES 16 (138,096 ) (139,554 )
NET ASSETS 3,714,525 2,630,330

CAPITAL AND RESERVES
Called up share capital 17 1,378 1,000
Share premium 18 8,464 -
Revaluation reserve 18 324,000 324,000
Retained earnings 18 3,380,683 2,305,330
SHAREHOLDERS' FUNDS 3,714,525 2,630,330

The financial statements were approved by the director and authorised for issue on 12 March 2024 and were signed by:





A Lee - Director


Northgate Lighting Limited (Registered number: 05735653)

Statement of Changes in Equity
for the Year Ended 31 March 2023

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   

Balance at 1 April 2021 1,000 1,632,673 - 324,000 1,957,673

Changes in equity
Dividends - (222,200 ) - - (222,200 )
Total comprehensive income - 894,857 - - 894,857
Balance at 31 March 2022 1,000 2,305,330 - 324,000 2,630,330

Changes in equity
Issue of share capital 378 - 8,464 - 8,842
Dividends - (25,000 ) - - (25,000 )
Total comprehensive income - 1,100,353 - - 1,100,353
Balance at 31 March 2023 1,378 3,380,683 8,464 324,000 3,714,525

Northgate Lighting Limited (Registered number: 05735653)

Cash Flow Statement
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 547,637 472,042
Interest paid (45,238 ) (28,181 )
Tax paid (217,459 ) (177,001 )
Net cash from operating activities 284,940 266,860

Cash flows from investing activities
Purchase of tangible fixed assets (60,789 ) (28,528 )
Sale of tangible fixed assets 3,950 -
Net cash from investing activities (56,839 ) (28,528 )

Cash flows from financing activities
New loans in year 300,000 -
Loan repayments in year (101,094 ) (338,410 )
Amount introduced by directors 18,141 -
Amount withdrawn by directors (196,912 ) -
Share issue 378 -
Share premium 8,464 -
Equity dividends paid (25,000 ) (222,200 )
Net cash from financing activities 3,977 (560,610 )

Increase/(decrease) in cash and cash equivalents 232,078 (322,278 )
Cash and cash equivalents at beginning of
year

2

271,285

593,563

Cash and cash equivalents at end of year 2 503,363 271,285

Northgate Lighting Limited (Registered number: 05735653)

Notes to the Cash Flow Statement
for the Year Ended 31 March 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.3.23 31.3.22
£    £   
Profit before taxation 1,370,444 1,123,034
Depreciation charges 91,888 91,590
Finance costs 45,238 28,181
1,507,570 1,242,805
Decrease/(increase) in stocks 382,608 (439,241 )
Increase in trade and other debtors (5,509 ) (97,724 )
Decrease in trade and other creditors (1,337,032 ) (233,798 )
Cash generated from operations 547,637 472,042

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 503,363 271,285
Year ended 31 March 2022
31/3/22 1/4/21
£    £   
Cash and cash equivalents 271,285 593,563


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/4/22 Cash flow At 31/3/23
£    £    £   
Net cash
Cash at bank and in hand 271,285 232,078 503,363
271,285 232,078 503,363
Debt
Debts falling due within 1 year (90,216 ) (79,195 ) (169,411 )
Debts falling due after 1 year (613,719 ) (119,711 ) (733,430 )
(703,935 ) (198,906 ) (902,841 )
Total (432,650 ) 33,172 (399,478 )

Northgate Lighting Limited (Registered number: 05735653)

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

1. STATUTORY INFORMATION

Northgate Lighting 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In applying the company's accounting policies, the director is required to make judgements,
estimates and assumptions about the carrying value of assets and liabilities. Estimates and
assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised
in the period in which the estimate is revised.

The main judgement concerns the likely future demand for the company's products and how that
impacts on the carrying value of stock. The director has based his judgement on his considerable
experience and understanding of the product and its market place.

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.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Computer equipment - 25% on reducing balance

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

Financial instruments
The company enters into basic financial instrument transactions resulting in the recognition of financial assets and liabilities such as trade debtors and trade creditors, loans from banks and loans to and from related parties. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be received or paid. If a short term instrument constitutes a financing transaction, such as the payment of a trade debt beyond normal business terms or financed at a non-market rate of interest, the financial asset or liability is measured at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

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.


Northgate Lighting Limited (Registered number: 05735653)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 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
31.3.23 31.3.22
£    £   
Wages and salaries 866,886 944,615
Social security costs 95,093 96,674
Other pension costs 66,446 63,646
1,028,425 1,104,935

The average number of employees during the year was as follows:
31.3.23 31.3.22

Management & administration 22 23
Sales 9 9
Warehouse & distribution 25 29
56 61

31.3.23 31.3.22
£    £   
Director's remuneration 37,856 16,318
Director's pension contributions to money purchase schemes 40,564 40,000

Northgate Lighting Limited (Registered number: 05735653)

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

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.3.23 31.3.22
£    £   
Hire of plant and machinery - 11,262
Depreciation - owned assets 91,888 91,590
Auditors' remuneration 6,000 2,750
Foreign exchange differences 7,353 (103,705 )

5. EXCEPTIONAL ITEMS
31.3.23 31.3.22
£    £   
Exceptional items 657,390 -

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.23 31.3.22
£    £   
Bank loan interest 45,238 28,181

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.23 31.3.22
£    £   
Current tax:
UK corporation tax 271,549 217,459

Deferred tax (1,458 ) 10,718
Tax on profit 270,091 228,177

UK corporation tax has been charged at 19% (2022 - 19%).

Northgate Lighting Limited (Registered number: 05735653)

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

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.23 31.3.22
£    £   
Profit before tax 1,370,444 1,123,034
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2022 - 19%)

260,384

213,376

Effects of:
Expenses not deductible for tax purposes 3,645 966
Depreciation in excess of capital allowances - 10,899
2021 costs deductible in 2022 - (7,782 )
Depreciation on freehold property 6,412 -
Difference on deferred tax rates (350 ) -
Deferred tax - 10,718
Total tax charge 270,091 228,177

8. DIVIDENDS
31.3.23 31.3.22
£    £   
Ordinary shares of £0.10 each
Interim 25,000 222,200

9. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 April 2022 1,674,684 618,416 178,888 2,471,988
Additions 12,450 13,900 34,439 60,789
Disposals - (3,950 ) - (3,950 )
At 31 March 2023 1,687,134 628,366 213,327 2,528,827
DEPRECIATION
At 1 April 2022 253,564 390,491 125,842 769,897
Charge for year 33,743 36,274 21,871 91,888
At 31 March 2023 287,307 426,765 147,713 861,785
NET BOOK VALUE
At 31 March 2023 1,399,827 201,601 65,614 1,667,042
At 31 March 2022 1,421,120 227,925 53,046 1,702,091

Northgate Lighting Limited (Registered number: 05735653)

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

10. STOCKS
31.3.23 31.3.22
£    £   
Stocks 2,037,307 2,419,915

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,533,235 1,414,556
Other debtors 24,663 3,403
Amounts due from related undertaking 150,000 150,000
Directors' current accounts 178,771 -
Prepayments 79,820 214,250
1,966,489 1,782,209

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 14) 169,411 90,216
Trade creditors 721,059 753,249
Tax 271,549 217,459
Social security and other taxes 23,270 27,063
VAT 128,498 339,090
Other creditors 67,186 257,738
Accrued expenses 207,177 414,590
1,588,150 2,099,405

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 14) 733,430 613,719
Trade creditors - 692,492
733,430 1,306,211

14. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 169,411 90,216

Amounts falling due between one and two years:
Bank loans - 1-2 years 169,411 92,413

Northgate Lighting Limited (Registered number: 05735653)

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

14. LOANS - continued
31.3.23 31.3.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 380,783 257,969

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than five years by
installment

183,236

263,337

15. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 902,841 703,935

The bank borrowings are secured against the company's freehold property.

16. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 138,096 139,554

Deferred
tax
£   
Balance at 1 April 2022 139,554
Provided during year (1,458 )
Balance at 31 March 2023 138,096

17. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
13,781 Ordinary £0.10 1,378 1,000

During the year a total of 3,781 new shares were issued. 3,445 of these were issued to Mr L Doyle, no money was received for the shares. 168 were issued to Mr P Southern who paid a premium of £25 per share. 168 were issued to Mr S Howship who paid a premium of £25 per share.

Northgate Lighting Limited (Registered number: 05735653)

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

18. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 April 2022 2,305,330 - 324,000 2,629,330
Profit for the year 1,100,353 1,100,353
Dividends (25,000 ) (25,000 )
Cash share issue - 8,464 - 8,464
At 31 March 2023 3,380,683 8,464 324,000 3,713,147

19. RELATED PARTY DISCLOSURES

At 31 March 2023 the company was owed £150,000 (2022: £150,000) from Make & Test Limited.

At 31 March 2023 the company was owed £163,890 (2022: £73,378) from Solutions Lighting Limited, due to trading activities.

At 31 March 2023 the company was owed £21,002 (2022: £110,591) from Lampshoponline Limited, due to trading activities.

At 31 March 2023 the company was owed £297,380 (2022: £218,924) from Dependable Trading Limited, due to trading activities.

Included in trade creditors is an amount of £3,815 (2022: £16,029) due to Make & Test Limited.

At 31 March 2023 the company was owed £178,771 (2022 £Nil) from its director A Lee. This amount was repaid within 9 months of the year end.

20. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its director.