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Company Registration No. 03490017 (England and Wales)
NuLite Ltd Unaudited accounts for the year ended 30 June 2023
NuLite Ltd Unaudited accounts Contents
Page
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NuLite Ltd Company Information for the year ended 30 June 2023
Director
Mr W Harris
Company Number
03490017 (England and Wales)
Registered Office
28 BIDDICK VILLAGE CENTRE BIDDICK WASHINGTON TYNE & WEAR NE38 7NP
Accountants
Taxman Solutions 42 Hayston Road Cumbernauld Glasgow G68 0BS
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NuLite Ltd Accountants' report
Accountants' report to the director of NuLite Ltd on the preparation of the unaudited statutory accounts for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NuLite Ltd for the year ended 30 June 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of NuLite Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of NuLite Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NuLite Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that NuLite Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of NuLite Ltd. You consider that NuLite Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of NuLite Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Taxman Solutions 42 Hayston Road Cumbernauld Glasgow G68 0BS 13 March 2024
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NuLite Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
186,764 
217,863 
Investment property
92,939 
92,939 
Investments
1,000,000 
1,618,302 
1,279,703 
1,929,104 
Current assets
Inventories
2,425,850 
2,521,382 
Debtors
3,680,991 
2,704,122 
Cash at bank and in hand
2,472,816 
2,553,164 
8,579,657 
7,778,668 
Creditors: amounts falling due within one year
(634,344)
(1,131,270)
Net current assets
7,945,313 
6,647,398 
Net assets
9,225,016 
8,576,502 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
9,224,916 
8,576,402 
Shareholders' funds
9,225,016 
8,576,502 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 March 2024 and were signed on its behalf by
Mr W Harris Director Company Registration No. 03490017
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NuLite Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
NuLite Ltd is a private company, limited by shares, registered in England and Wales, registration number 03490017. The registered office is 28 BIDDICK VILLAGE CENTRE, BIDDICK, WASHINGTON, TYNE & WEAR, NE38 7NP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% on cost
Plant & machinery
10% on cost
Motor vehicles
20% on cost
Fixtures & fittings
20% on cost
Computer equipment
20% on cost
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NuLite Ltd Notes to the Accounts for the year ended 30 June 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 July 2022
28,706 
270,808 
227,013 
30,495 
30,099 
587,121 
Additions
10,750 
7,815 
- 
368 
10,341 
29,274 
At 30 June 2023
39,456 
278,623 
227,013 
30,863 
40,440 
616,395 
Depreciation
At 1 July 2022
15,494 
167,206 
138,994 
25,406 
22,158 
369,258 
Charge for the year
3,139 
22,171 
28,219 
2,684 
4,160 
60,373 
At 30 June 2023
18,633 
189,377 
167,213 
28,090 
26,318 
429,631 
Net book value
At 30 June 2023
20,823 
89,246 
59,800 
2,773 
14,122 
186,764 
At 30 June 2022
13,212 
103,602 
88,019 
5,089 
7,941 
217,863 
5
Investment property
2023 
£ 
Fair value at 1 July 2022
92,939 
At 30 June 2023
92,939 
6
Investments
Subsidiary undertakings 
Other investments 
Total 
£ 
£ 
£ 
Valuation at 1 July 2022
1,000,000 
618,302 
1,618,302 
Disposals
- 
(618,302)
(618,302)
Valuation at 30 June 2023
1,000,000 
- 
1,000,000 
Subsidiary undertaking The company's investment in its subsidiary company represents the cost of acquisition of the whole of the ordinary share capital of Nulite Properties Ltd (12804507), which develops and rents its own property. Other investments Other investments comprise investments listed on the London Stock Exchange, the market value of which at 30 June 2023 amounted to £0 (£618,302 at 30 June 2022), following the complete encashment of the investment during the year.
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
261,245 
230,410 
Accrued income and prepayments
8,289 
1,830 
Other debtors
18,030 
8,000 
287,564 
240,240 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
3,393,427 
2,463,882 
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NuLite Ltd Notes to the Accounts for the year ended 30 June 2023
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
120,188 
74,572 
Trade creditors
57,394 
220,812 
Taxes and social security
130,254 
9,136 
Other creditors
811 
481 
Loans from directors
275,904 
785,819 
Accruals
49,793 
40,450 
634,344 
1,131,270 
9
Average number of employees
During the year the average number of employees was 17 (2022: 20).
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