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REGISTERED NUMBER: 03164308 (England and Wales)
















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LIGHTERLIFE UK LIMITED

LIGHTERLIFE UK LIMITED (REGISTERED NUMBER: 03164308)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LIGHTERLIFE UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs B H Hewlett
Ms J S A Cox
Ms R Hunter



REGISTERED OFFICE: Unit 1
Camboro Business Park
Oakington Road
Girton
Cambridgeshire
CB3 0QH



REGISTERED NUMBER: 03164308 (England and Wales)



AUDITORS: Staffords
Chartered Accountants
& Statutory Auditors
Unit 1, Cambridge House
Camboro Business Park
Oakington Road, Girton
CAMBRIDGE
Cambridgeshire
CB3 0QH



BANKERS: Barclays Bank PLC
12a Market Place
Saffron Walden
Essex
CB10 8HR

LIGHTERLIFE UK LIMITED (REGISTERED NUMBER: 03164308)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 40,136 -
Tangible assets 6 - -
Investments 7 16 16
40,152 16

CURRENT ASSETS
Stocks 903,168 686,238
Debtors 8 286,611 5,280,473
Cash at bank 920,218 744,372
2,109,997 6,711,083
CREDITORS
Amounts falling due within one year 9 1,176,027 6,176,032
NET CURRENT ASSETS 933,970 535,051
TOTAL ASSETS LESS CURRENT
LIABILITIES

974,122

535,067

CAPITAL AND RESERVES
Called up share capital 10 9,500 9,500
Share premium 181,099 181,099
Other reserves 1,050 1,050
Retained earnings 782,473 343,418
SHAREHOLDERS' FUNDS 974,122 535,067

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

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 28 June 2024 and were signed on its behalf by:





Mrs B H Hewlett - Director


LIGHTERLIFE UK LIMITED (REGISTERED NUMBER: 03164308)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

LighterLife UK 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.

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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Preparation of consolidated financial statements
The financial statements contain information about LighterLife UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. Amortisation commences when the asset is completed. The intangible assets are amortised over the following useful economic lives:

Software4 years

Goodwill10 years

If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised prospectively to reflect the new expectations.

If the net fair value of the identifiable assets and liabilities acquired exceeds the cost of a business combination, the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered. Any excess exceeding the fair value of non-monetary assets acquired is recognised in profit or loss in the periods expected to be benefitted.

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 etc - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

LIGHTERLIFE UK LIMITED (REGISTERED NUMBER: 03164308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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

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.

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
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Short term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses and, to the extent that losses are deemed recoverable, the company will take appropriate legal action

Provisions
Provisions are recognised when the company has a present obligation as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 35 ) .

LIGHTERLIFE UK LIMITED (REGISTERED NUMBER: 03164308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. AUDITORS' REMUNERATION
2023 2022
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

9,500

6,500

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 49,185
Additions 44,919
At 31 December 2023 94,104
AMORTISATION
At 1 January 2023 49,185
Charge for year 4,783
At 31 December 2023 53,968
NET BOOK VALUE
At 31 December 2023 40,136
At 31 December 2022 -

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 1,128,021
DEPRECIATION
At 1 January 2023
and 31 December 2023 1,128,021
NET BOOK VALUE
At 31 December 2023 -

LIGHTERLIFE UK LIMITED (REGISTERED NUMBER: 03164308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 2,329,860 13 2,329,873
PROVISIONS
At 1 January 2023
and 31 December 2023 2,329,857 - 2,329,857
NET BOOK VALUE
At 31 December 2023 3 13 16
At 31 December 2022 3 13 16

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 50,697 53,314
Amounts owed by group undertakings 43,159 4,957,518
Other debtors 192,755 269,641
286,611 5,280,473

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 726,251 334,693
Amounts owed to group undertakings 3 5,377,816
Taxation and social security 307,244 128,214
Other creditors 142,529 335,309
1,176,027 6,176,032

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
950,000 Ordinary 1p 9,500 9,500

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Pettifer FCA (Senior Statutory Auditor)
for and on behalf of Staffords

LIGHTERLIFE UK LIMITED (REGISTERED NUMBER: 03164308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

LighterLife UK Limited is a wholly owned subsidiary of The Triangle Limited which is its ultimate parent undertaking registered in Guernsey. There is no ultimate controlling party.