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REGISTERED NUMBER: 02659194 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Prolight Design Limited

Prolight Design Limited (Registered number: 02659194)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Statement of Directors' Responsibilities 9

Independent Chartered Accountants' Review Report 10


Prolight Design Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: P Binsted
S Gill





SECRETARY: P Binsted





REGISTERED OFFICE: Beacon Business Centre
Hopton Park
Devizes
Wiltshire
SN10 2EY





REGISTERED NUMBER: 02659194 (England and Wales)





ACCOUNTANTS: PPS Chartered Accountants
29 Devizes Road
Swindon
Wiltshire
SN1 4BG

Prolight Design Limited (Registered number: 02659194)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 220,634 16,984

CURRENT ASSETS
Stocks 834,400 1,189,364
Debtors 5 2,087,590 1,254,640
Cash at bank 1,132,248 867,594
4,054,238 3,311,598
CREDITORS
Amounts falling due within one year 6 2,182,160 1,456,834
NET CURRENT ASSETS 1,872,078 1,854,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,092,712

1,871,748

CREDITORS
Amounts falling due after more than one year 7 (220,231 ) (265,000 )

PROVISIONS FOR LIABILITIES 9 (55,066 ) (3,637 )
NET ASSETS 1,817,415 1,603,111

CAPITAL AND RESERVES
Called up share capital 10 4,570 5,000
Capital redemption reserve 11 430 -
Retained earnings 11 1,812,415 1,598,111
SHAREHOLDERS' FUNDS 1,817,415 1,603,111

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Prolight Design Limited (Registered number: 02659194)

Balance Sheet - continued
30 November 2023


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 20 August 2024 and were signed on its behalf by:





S Gill - Director


Prolight Design Limited (Registered number: 02659194)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Prolight Design 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 the provisions of Section 1A "Small Entities" of 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 and are presented in £ sterling which is the the functional currency of the company.

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, rebates and value added tax. Revenue from the sales of goods is recognised when the significant risks and rewards of ownership have passed to the buyer, usually on despatch of the goods.

Depreciation of tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 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 Design Limited (Registered number: 02659194)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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 or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 December 2022 90,903 24,657 146,359 32,828 294,747
Additions 76,726 14,023 125,815 32,299 248,863
Disposals - - (74,293 ) - (74,293 )
At 30 November 2023 167,629 38,680 197,881 65,127 469,317
DEPRECIATION
At 1 December 2022 85,714 24,291 146,359 21,399 277,763
Charge for year 10,662 2,533 23,446 8,572 45,213
Eliminated on disposal - - (74,293 ) - (74,293 )
At 30 November 2023 96,376 26,824 95,512 29,971 248,683
NET BOOK VALUE
At 30 November 2023 71,253 11,856 102,369 35,156 220,634
At 30 November 2022 5,189 366 - 11,429 16,984

Prolight Design Limited (Registered number: 02659194)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
Additions 124,824
At 30 November 2023 124,824
DEPRECIATION
Charge for year 23,405
At 30 November 2023 23,405
NET BOOK VALUE
At 30 November 2023 101,419

5. DEBTORS
30.11.23 30.11.22
£ £
Amounts falling due within one year:
Trade debtors 2,053,220 1,032,434
Other debtors 34,370 23,612
2,087,590 1,056,046

Amounts falling due after more than one year:
Other debtors - 198,594

Aggregate amounts 2,087,590 1,254,640

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£ £
Bank loans and overdrafts 102,000 102,000
Hire purchase contracts 15,216 -
Trade creditors 705,931 586,702
Taxation and social security 668,891 408,333
Other creditors 690,122 359,799
2,182,160 1,456,834

Prolight Design Limited (Registered number: 02659194)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£ £
Bank loans 163,000 265,000
Hire purchase contracts 57,231 -
220,231 265,000

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£ £
Bank loans 265,000 367,000

9. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£ £
Deferred tax
Accelerated capital allowances 55,066 3,637

Deferred tax
£
Balance at 1 December 2022 3,637
Accelerated Capital Allowances 51,429
Balance at 30 November 2023 55,066

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £ £
4,570 Ordinary £1 4,570 5,000
(30.11.22 - 5,000 )

In April 2023 the company purchased 430 Ordinary £1 shares from P Binsted for £340,990 and those shares were cancelled.

Prolight Design Limited (Registered number: 02659194)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£ £ £

At 1 December 2022 1,598,111 - 1,598,111
Profit for the year 835,294 835,294
Dividends (280,000 ) (280,000 )
Purchase of own shares (340,990 ) 430 (340,560 )
At 30 November 2023 1,812,415 430 1,812,845

12. FINANCIAL COMMITMENTS

Total financial commitments relating to operating leases amounted to £904,148 (2022: £313,100) at the balance sheet date.

13. TRANSACTIONS WITH DIRECTORS

In April 2023 the company purchased 430 Ordinary £1 shares from P Binsted for £340,990.

The company had previously agreed a loan of £154,355 to P Binsted. Interest was charged at 4% on the year-end balance per annum and the loan was repaid on 6 April 2023. The amount outstanding at the balance sheet date in the comparative year was £198,593.

The directors have current accounts with the company on which interest at a rate of 4% is payable in respect of credit balances and is charged in respect of debit balances.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Binsted.

Prolight Design Limited (Registered number: 02659194)

Statement of Directors' Responsibilities
for the Year Ended 30 November 2023


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

The directors are responsible for preparing 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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.


ON BEHALF OF THE BOARD:





S Gill - Director

20 August 2024

Independent Chartered Accountants' Review Report to the Directors of
Prolight Design Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Prolight Design Limited for the year ended 30 November 2023, which comprise the Income Statement, Balance Sheet and 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 (United Kingdom Generally Accepted Accounting Practice).

Directors' responsibility for the financial statements
As explained more fully in the Statement of Directors' Responsibilities set out on page nine, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility
Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF (Revised) 'Assurance review engagements on historical financial statements'. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics and the FRC's Ethical Standard, as applicable.

Scope of the assurance review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

- so as to give a true and fair view of the state of the company's affairs as at 30 November 2023 and of its profit for the year then ended;
- in accordance with United Kingdom Generally Accepted Accounting Practice; and
- in accordance with the requirements of the Companies Act 2006.

Use of our report
This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in a reviewer's report 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 directors as a body for our work, for this report, or for the conclusions we have formed.




PPS Chartered Accountants
29 Devizes Road
Swindon
Wiltshire
SN1 4BG


Independent Chartered Accountants' Review Report to the Directors of
Prolight Design Limited


20 August 2024