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REGISTERED NUMBER: 12602249 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

PROLIGHT CONCEPTS (UK) LIMITED

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 16


PROLIGHT CONCEPTS (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: A J Jeffrey
Mrs S K Jeffrey
G Alker
B T Jeffrey



REGISTERED OFFICE: Edison Point
Regent Street
Colne
Lancashire
BB8 8LJ



REGISTERED NUMBER: 12602249 (England and Wales)



SENIOR STATUTORY AUDITOR: Mel Henry



AUDITORS: Ainsworths Limited
Chartered Accountants
and Statutory Auditors
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST MARCH 2024


The directors present their strategic report for the year ended 31st March 2024.

REVIEW OF BUSINESS
The principal activity of the company in the period under review was that of wholesalers of lighting systems and related products.

The company is the main trading company in the Prolight Concepts Group of Companies. The company is one of the leading suppliers of lighting systems and related products to the entertainment industry. The Prolight brand has become synonymous with lighting innovation, perfect lighting products and reliability of product.

The directors consider the results achieved by the company to be very good, considering the current UK economy. The company's market share in the UK continues to grow and it is envisaged will improve further in the coming years following the continued investment in staffing and resources. The product ranges continue to be regularly updated with new innovative technology which is expected to improve income and profitability.

The company's key performance indicators during the period were as follows:

2023/24 2022/23

Turnover £18,282,569 £12,184,309
Gross % 33.60% 32.03%
EBITDA £3,599,754 £2,488,999

The directors are satisfied with the current results. Turnover has been maintained at levels consistent with the prior year. Gross profit margins have been maintained due to sales mix and efficiency savings. The costs in the business have moved in line with the levels of activity and continue to be closely monitored.

The balance sheet improved as the majority of the profits are retained within the business as working capital and the purchase of new property.

The group does not have any external funding requirements or reliance on any external creditors for its day to day operations.

The directors are confident in the future outlook of the company and are budgeting an increase in turnover and market share for 2024/25.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal commercial risks and uncertainties faced by the company include the general economic climate, seasonal weather factors and rising costs. The directors monitor these risks in order to respond and react to changes in the market conditions.

FINANCIAL RISK MANAGEMENT
The company's operations expose it to a variety of financial risks that include the effects of credit, currency, interest rate and liquidity risk. The directors actively manage these risks by monitoring levels of risk and related costs of mitigating these.

ON BEHALF OF THE BOARD:





A J Jeffrey - Director


15th August 2024

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2024


The directors present their report with the financial statements of the company for the year ended 31st March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of that of wholesalers of lighting systems and related products.

DIVIDENDS
No dividends will be distributed for the year ended 31st March 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2023 to the date of this report.

A J Jeffrey
Mrs S K Jeffrey
G Alker

Other changes in directors holding office are as follows:

B T Jeffrey was appointed as a director after 31st March 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2024


AUDITORS
The auditors, Ainsworths Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A J Jeffrey - Director


15th August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PROLIGHT CONCEPTS (UK) LIMITED


Opinion
We have audited the financial statements of Prolight Concepts (UK) Limited (the 'company') for the year ended 31st March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PROLIGHT CONCEPTS (UK) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PROLIGHT CONCEPTS (UK) LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Company and the nature of the sector in which it operates, we have identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the Companies Act 2006, tax legislation and the Licencing Act 2013.

We have evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to inappropriate journal entries, management bias in accounting estimates and judgements and inappropriate disclosure of related party transactions. Our audit procedures designed to address these risks included, but were not limited to:

- Enquiries with management, regarding any known or suspected instances of non-compliance with laws and regulations, and fraud;
- Agreement of the financial statement disclosures to the underlying supporting documentation;
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud;
- Challenging assumptions and judgements made by management in their significant accounting estimates, in particular in relation to provisions and future performance;
- Auditing the risk of management override of controls, including through the testing journal entries and other adjustments for appropriateness;
- Revenue year end cut-off procedure;
- Obtaining an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal controls.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment by misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PROLIGHT CONCEPTS (UK) LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mel Henry (Senior Statutory Auditor)
for and on behalf of Ainsworths Limited
Chartered Accountants
and Statutory Auditors
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

15th August 2024

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

INCOME STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024

Year Ended Period
31.3.24 1.8.22 to 31.3.23
Notes £    £    £    £   

TURNOVER 18,282,569 12,184,309

Cost of sales 12,138,746 8,282,202
GROSS PROFIT 6,143,823 3,902,107

Distribution costs 466,448 336,395
Administrative expenses 2,107,809 1,072,366
2,574,257 1,408,761
3,569,566 2,493,346

Other operating income 9,279 (10,185 )
OPERATING PROFIT 4 3,578,845 2,483,161

Interest receivable and similar income 53,857 1,315
3,632,702 2,484,476

Interest payable and similar expenses 5 115,676 -
PROFIT BEFORE TAXATION 3,517,026 2,484,476

Tax on profit 6 879,256 472,523
PROFIT FOR THE FINANCIAL YEAR 2,637,770 2,011,953

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST MARCH 2024

Period
1.8.22
Year Ended to
31.3.24 31.3.23
Notes £    £   

PROFIT FOR THE YEAR 2,637,770 2,011,953


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,637,770
Prior year adjustment (1,000,000 )
TOTAL COMPREHENSIVE INCOME
SINCE LAST ANNUAL REPORT

1,011,953

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 7,040,337 74,628

CURRENT ASSETS
Stocks 8 6,844,833 6,637,039
Debtors 9 1,698,349 1,711,808
Cash at bank 2,455,724 1,398,450
10,998,906 9,747,297
CREDITORS
Amounts falling due within one year 10 3,344,451 1,904,809
NET CURRENT ASSETS 7,654,455 7,842,488
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,694,792

7,917,116

CREDITORS
Amounts falling due after more than one
year

11

(4,107,041

)

-

PROVISIONS FOR LIABILITIES 13 (51,522 ) (18,657 )
NET ASSETS 10,536,229 7,898,459

CAPITAL AND RESERVES
Called up share capital 14 100 100
Retained earnings 15 10,536,129 7,898,359
SHAREHOLDERS' FUNDS 10,536,229 7,898,459

The financial statements were approved by the Board of Directors and authorised for issue on 15th August 2024 and were signed on its behalf by:





A J Jeffrey - Director


PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st August 2022 100 6,886,406 6,886,506
Prior year adjustment - (1,000,000 ) (1,000,000 )
As restated 100 5,886,406 5,886,506

Changes in equity
Total comprehensive income - 2,011,953 2,011,953
Balance at 31st March 2023 100 7,898,359 7,898,459

Changes in equity
Total comprehensive income - 2,637,770 2,637,770
Balance at 31st March 2024 100 10,536,129 10,536,229

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024

Period
1.8.22
Year Ended to
31.3.24 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,423,789 1,491,974
Interest paid (115,676 ) -
Tax paid (763,986 ) (667,221 )
Net cash from operating activities 2,544,127 824,753

Cash flows from investing activities
Purchase of tangible fixed assets (6,986,618 ) (80,466 )
Interest received 53,857 1,315
Net cash from investing activities (6,932,761 ) (79,151 )

Cash flows from financing activities
New loans in year 6,615,000 -
Loan repayments in year (1,100,612 ) -
Amount introduced by directors - (11,520 )
Amount withdrawn by directors (68,480 ) -
Net cash from financing activities 5,445,908 (11,520 )

Increase in cash and cash equivalents 1,057,274 734,082
Cash and cash equivalents at beginning of
year

2

1,398,450

664,368

Cash and cash equivalents at end of year 2 2,455,724 1,398,450

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
Period
1.8.22
Year Ended to
31.3.24 31.3.23
£    £   
Profit before taxation 3,517,026 2,484,476
Depreciation charges 20,909 5,838
Finance costs 115,676 -
Finance income (53,857 ) (1,315 )
3,599,754 2,488,999
Increase in stocks (207,794 ) (1,960,844 )
Decrease in trade and other debtors 13,459 1,213,679
Increase/(decrease) in trade and other creditors 18,370 (249,860 )
Cash generated from operations 3,423,789 1,491,974

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 2,455,724 1,398,450
Period ended 31st March 2023
31.3.23 1.8.22
£    £   
Cash and cash equivalents 1,398,450 664,368


PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024


3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank 1,398,450 1,057,274 2,455,724
1,398,450 1,057,274 2,455,724
Debt
Debts falling due within 1 year - (1,407,347 ) (1,407,347 )
Debts falling due after 1 year - (4,107,041 ) (4,107,041 )
- (5,514,388 ) (5,514,388 )
Total 1,398,450 (4,457,114 ) (3,058,664 )

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Prolight Concepts (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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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.

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


3. EMPLOYEES AND DIRECTORS
Period
1.8.22
Year Ended to
31.3.24 31.3.23
£    £   
Wages and salaries - 18,059

The average number of employees during the year was as follows:
Period
1.8.22
Year Ended to
31.3.24 31.3.23

Office and management 3 2

Period
1.8.22
Year Ended to
31.3.24 31.3.23
£    £   
Directors' remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period
1.8.22
Year Ended to
31.3.24 31.3.23
£    £   
Depreciation - owned assets 20,909 5,838
Auditors' remuneration 11,060 5,268
Auditors' remuneration for non audit work 5,460 3,340
Foreign exchange differences (9,279 ) 10,185

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.8.22
Year Ended to
31.3.24 31.3.23
£    £   
Bank loan interest 115,676 -

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
1.8.22
Year Ended to
31.3.24 31.3.23
£    £   
Current tax:
UK corporation tax 846,391 453,866

Deferred tax 32,865 18,657
Tax on profit 879,256 472,523

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.8.22
Year Ended to
31.3.24 31.3.23
£    £   
Profit before tax 3,517,026 2,484,476
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

879,257

472,050

Effects of:
Expenses not deductible for tax purposes - 305
Capital allowances in excess of depreciation (32,866 ) (14,179 )
Super deduction - (4,310 )


Deferred tax 32,865 18,657
Total tax charge 879,256 472,523

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


7. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st April 2023 - 68,147 - 12,319 80,466
Additions 6,851,354 49,020 85,319 925 6,986,618
At 31st March 2024 6,851,354 117,167 85,319 13,244 7,067,084
DEPRECIATION
At 1st April 2023 - 4,505 - 1,333 5,838
Charge for year - 16,802 - 4,107 20,909
At 31st March 2024 - 21,307 - 5,440 26,747
NET BOOK VALUE
At 31st March 2024 6,851,354 95,860 85,319 7,804 7,040,337
At 31st March 2023 - 63,642 - 10,986 74,628

8. STOCKS
31.3.24 31.3.23
£    £   
Stocks 6,844,833 6,637,039

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,626,360 1,711,808
Other debtors 65,563 -
VAT 6,426 -
1,698,349 1,711,808

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 12) 1,407,347 -
Trade creditors 523,778 506,477
Amounts owed to group undertakings 940,639 1,000,000
Tax 218,888 136,483
VAT - 163,626
Other creditors 221,839 -
Directors' current accounts - 68,480
Accruals and deferred income 31,960 29,743
3,344,451 1,904,809

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 12) 4,107,041 -

12. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 1,407,347 -

Amounts falling due between one and two years:
Bank loans - 1-2 years 173,675 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 3,933,366 -

13. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 51,522 18,657

Deferred
tax
£   
Balance at 1st April 2023 18,657
Provided during year 32,865
Balance at 31st March 2024 51,522

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 100 100

PROLIGHT CONCEPTS (UK) LIMITED (REGISTERED NUMBER: 12602249)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


15. RESERVES
Retained
earnings
£   

At 1st April 2023 7,898,359
Profit for the year 2,637,770
At 31st March 2024 10,536,129

16. ULTIMATE PARENT COMPANY

Prolight Concepts Group Limited is regarded by the directors as being the company's ultimate parent company.

17. CAPITAL COMMITMENTS
31.3.24 31.3.23
£    £   
Contracted but not provided for in the
financial statements 251,159 6,627,842