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Registration number: 04954260

Lightening Camera Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 November 2023

 

Lightening Camera Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Lightening Camera Limited

(Registration number: 04954260)
Balance Sheet as at 29 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

103,315

100,873

Current assets

 

Debtors

5

19,349

37,037

Cash at bank and in hand

 

63,156

24,235

 

82,505

61,272

Creditors: Amounts falling due within one year

6

(48,826)

(23,591)

Net current assets

 

33,679

37,681

Total assets less current liabilities

 

136,994

138,554

Creditors: Amounts falling due after more than one year

6

(9,500)

(15,500)

Provisions for liabilities

(23,992)

(23,204)

Net assets

 

103,502

99,850

Capital and reserves

 

Called up share capital

100

100

Retained earnings

103,402

99,750

Shareholders' funds

 

103,502

99,850

 

Lightening Camera Limited

(Registration number: 04954260)
Balance Sheet as at 29 November 2023

For the financial year ending 29 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 July 2024
 

D B Lightening
Director

   
     
 

Lightening Camera Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Priory Road
Sale
Cheshire
M33 2BS
United Kingdom

These financial statements were authorised for issue by the director on 2 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are credited to the profit and loss account on the accruals basis.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Lightening Camera Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and equipment

15% and 33% on cost

Motor vehicles

25% on reducing balance

Office equipment

25% on cost

Office studio

10% on reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Lightening Camera Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Lightening Camera Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

4

Tangible assets

Office studio
£

Fixtures and equipment
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 30 November 2022

16,816

291,109

9,699

31,738

Additions

-

59,185

-

-

At 29 November 2023

16,816

350,294

9,699

31,738

Depreciation

At 30 November 2022

8,653

205,076

8,880

25,880

Charge for the year

816

54,182

281

1,464

At 29 November 2023

9,469

259,258

9,161

27,344

Carrying amount

At 29 November 2023

7,347

91,036

538

4,394

At 29 November 2022

8,163

86,033

819

5,858

Total
£

Cost or valuation

At 30 November 2022

349,362

Additions

59,185

At 29 November 2023

408,547

Depreciation

At 30 November 2022

248,489

Charge for the year

56,743

At 29 November 2023

305,232

Carrying amount

At 29 November 2023

103,315

At 29 November 2022

100,873

5

Debtors

Current

2023
£

2022
£

Trade debtors

17,680

36,081

Other debtors

1,669

956

 

19,349

37,037

 

Lightening Camera Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

6,000

6,000

Taxation and social security

 

40,671

15,607

Other creditors

 

2,155

1,984

 

48,826

23,591

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

9,500

15,500

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

9,500

15,500

2023
£

2022
£

Current loans and borrowings

Bank borrowings

6,000

6,000