Company Registration No. 04081039 (England and Wales)
Designs for Lighting Ltd
Unaudited accounts
for the year ended 31 March 2024
Designs for Lighting Ltd
Unaudited accounts
Contents
Designs for Lighting Ltd
Company Information
for the year ended 31 March 2024
Directors
Alistair M Scott
Andrew P Longman
Richard T Jackson
Company Number
04081039 (England and Wales)
Registered Office
17 City Business Centre
Hyde Street
Winchester
Hampshire
SO23 7TA
Accountants
Karen A Sennitt FCA CTA
The Newport
Newport Lane, Braishfield
Romsey
Hampshire
SO51 0PL
Designs for Lighting Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
8,386
10,916
Inventories
203,380
216,251
Cash at bank and in hand
259,088
341,960
Creditors: amounts falling due within one year
(216,922)
(194,131)
Net current assets
536,024
616,834
Net assets
544,410
627,750
Called up share capital
160
160
Share premium
36,935
36,935
Capital redemption reserve
75
75
Profit and loss account
507,240
590,580
Shareholders' funds
544,410
627,750
For the year ending 31 March 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 12 July 2024 and were signed on its behalf by
Richard T Jackson
Director
Company Registration No. 04081039
Designs for Lighting Ltd
Notes to the Accounts
for the year ended 31 March 2024
Designs for Lighting Ltd is a private company, limited by shares, registered in England and Wales, registration number 04081039. The registered office is 17 City Business Centre, Hyde Street, Winchester, Hampshire, SO23 7TA.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Fixtures & fittings
25% on cost
Computer equipment
33% on cost
Stock and work in progress
Work in progress has been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Designs for Lighting Ltd
Notes to the Accounts
for the year ended 31 March 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
61,776
28,885
90,661
Disposals
(1,538)
(6,322)
(7,860)
At 31 March 2024
60,238
29,952
90,190
At 1 April 2023
59,555
20,190
79,745
Charge for the year
1,110
8,809
9,919
On disposals
(1,538)
(6,322)
(7,860)
At 31 March 2024
59,127
22,677
81,804
At 31 March 2024
1,111
7,275
8,386
At 31 March 2023
2,221
8,695
10,916
Amounts falling due within one year
Trade debtors
258,258
212,714
Accrued income and prepayments
31,845
-
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
38,342
28,015
Amounts owed to group undertakings and other participating interests
2,483
-
Taxes and social security
77,638
153,904
Other creditors
6,509
4,992
Allotted, called up and fully paid:
1,276 Ordinary shares of £0.125 each
159.50
159.50
Designs for Lighting Ltd
Notes to the Accounts
for the year ended 31 March 2024
8
Transactions with related parties
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.
Designs for Lighting Limited is owned 100% by Designs for Lighting 2020 Limited which is owned 100% by DFL-UK Ltd, 17 City Business Centre, Hyde Street, Winchester, Hampshire SO23 7TA.
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Average number of employees
During the year the average number of employees was 25 (2023: 23).