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Registered Number: 05621986
England and Wales

 

 

 

LIGHTWAY FINANCE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 November 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
ROSAM INVESTMENTS LIMITED
30 November 2023



....................................................

ROSAM INVESTMENTS LIMITED

2
Fairfield Drive
Broxbourne
EN10 6DX
11 July 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 145,000    145,000 
145,000    145,000 
Current assets      
Debtors 600    600 
Cash at bank and in hand 73,975    69,395 
74,575    69,995 
Creditors: amount falling due within one year (1,819)   (965)
Net current assets 72,756    69,030 
 
Total assets less current liabilities 217,756    214,030 
Creditors: amount falling due after more than one year (141,000)   (141,000)
Net assets 76,756    73,030 
 

Capital and reserves
     
Called up share capital 100    100 
Other Comprehensive Income 4 1,819    693 
Profit and loss account 74,837    72,237 
Shareholders' funds 76,756    73,030 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 11 July 2024 and were signed on its behalf by:


-------------------------------
Olufemi Agbesanwa
Director
2
General Information
LIGHTWAY FINANCE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05621986, registration address SUIT 037 MAXTED ROAD, HEMEL HEMPSTEAD INDUSTRIAL ESTATE HEMEL HEMPSTEAD, HP2 7DX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the value of gains in the exchange differences in any one transaction supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
The business currently deals in Sterling exchange against the U.S. Dollar, Australian Dollar, Euro, and Naira during the financial period to 30th November 2022.
The respective volumes traded for the period in each currency are as follows:
USD: $900,653
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included in the income statement.

Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortization. Amortization is calculated on a straight-line basis over the estimated expected useful economic life of the goodwill of years.
It will be tested annually to verify the appropriate carrying value.
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of years.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Intangible fixed assets

Cost Goodwill   Software License   Total
  £   £   £
At 01 December 2022 105,000    40,000    145,000 
Additions    
Disposals    
At 30 November 2023 105,000    40,000    145,000 
Net book values
At 30 November 2023 105,000    40,000    145,000 
At 30 November 2022 105,000    40,000    145,000 


4.

Other Comprehensive Income

2023
£
  2022
£
Other Comprehensive Income b/fwd 693   
Foreign currency adjustments 1,126    693 
1,819    693 

3