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Registered number: 07821876
Backlight & Smoke Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07821876
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 100,207 115,169
100,207 115,169
CURRENT ASSETS
Debtors 5 348 18,471
Cash at bank and in hand 91,695 77,599
92,043 96,070
Creditors: Amounts Falling Due Within One Year 6 (59,941 ) (51,575 )
NET CURRENT ASSETS (LIABILITIES) 32,102 44,495
TOTAL ASSETS LESS CURRENT LIABILITIES 132,309 159,664
Creditors: Amounts Falling Due After More Than One Year 7 (7,917 ) (12,917 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,039 ) (21,639 )
NET ASSETS 105,353 125,108
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 105,253 125,008
SHAREHOLDERS' FUNDS 105,353 125,108
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Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
E T Moore
Director
29 July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Backlight & Smoke Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07821876 . The registered office is Avaland House, 110 London Road, Hemel Hempstead, Hertfordshire, HP3 9SD.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable excluding discounts, rebates, value added taxes and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% reducing balance method
Motor Vehicles 25% reducing balance method
Office Equipment 33% reducing balance method
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company contributes towards employees defined contribution pension schemes. Contributions payable to employees' pension schemes are charged to the profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Office Equipment Total
£ £ £ £
Cost
As at 1 November 2022 2,796 56,035 129,908 188,739
Additions - - 29,453 29,453
As at 31 October 2023 2,796 56,035 159,361 218,192
Depreciation
As at 1 November 2022 847 1,542 71,181 73,570
Provided during the period 643 17,983 25,789 44,415
As at 31 October 2023 1,490 19,525 96,970 117,985
Net Book Value
As at 31 October 2023 1,306 36,510 62,391 100,207
As at 1 November 2022 1,949 54,493 58,727 115,169
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 17,592
Prepayments and accrued income 348 879
348 18,471
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,860 -
Bank loans and overdrafts 5,000 5,000
Corporation tax 30,796 12,686
Other taxes and social security 129 -
VAT 7,766 24,032
Other creditors - 519
Accruals and deferred income 2,548 2,332
Director's loan account 11,842 7,006
59,941 51,575
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 7,917 12,917
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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