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Registered number: 08175443
Headlights (Lighting) Ltd
Unaudited Financial Statements
For The Year Ended 28 August 2023
Charlton Baker
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08175443
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,255 25,763
Tangible Assets 5 2,943 3,463
13,198 29,226
CURRENT ASSETS
Stocks 6 26,840 31,860
Debtors 7 47,513 74,445
Cash at bank and in hand 10 2,950
74,363 109,255
Creditors: Amounts Falling Due Within One Year 8 (126,676 ) (151,624 )
NET CURRENT ASSETS (LIABILITIES) (52,313 ) (42,369 )
TOTAL ASSETS LESS CURRENT LIABILITIES (39,115 ) (13,143 )
Creditors: Amounts Falling Due After More Than One Year (38,421 ) (38,424 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,079 ) (1,279 )
NET LIABILITIES (78,615 ) (52,846 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (78,617 ) (52,848 )
SHAREHOLDERS' FUNDS (78,615) (52,846)
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Page 2
For the year ending 28 August 2023 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.
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
Mr G Head
Director
29/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Headlights (Lighting) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08175443 . The registered office is Unit 6, White Horse Business Centre, Hopton Road, Devizes, Wiltshire, SN10 2HJ.
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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible asset is company website. It is amortised to profit and loss account at 15% reducing balance.
2.5. 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:
Fixtures & Fittings 15% reducing balance
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
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2.8. 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.
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.
2.9. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement in financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 31 August 2022 150,252 6,441 156,693
As at 28 August 2023 150,252 6,441 156,693
Amortisation
As at 31 August 2022 127,711 3,219 130,930
Provided during the period 15,025 483 15,508
As at 28 August 2023 142,736 3,702 146,438
Net Book Value
As at 28 August 2023 7,516 2,739 10,255
As at 31 August 2022 22,541 3,222 25,763
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5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 31 August 2022 9,617
As at 28 August 2023 9,617
Depreciation
As at 31 August 2022 6,154
Provided during the period 520
As at 28 August 2023 6,674
Net Book Value
As at 28 August 2023 2,943
As at 31 August 2022 3,463
6. Stocks
2023 2022
£ £
Materials 26,840 31,860
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 39,250 59,575
Other debtors 8,263 14,870
47,513 74,445
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 45,804 70,223
Bank loans and overdrafts 27,492 26,425
Other creditors 25,511 16,969
Taxation and social security 27,869 38,007
126,676 151,624
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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