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REGISTERED NUMBER: 05282321 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Lighting Controls Limited

Lighting Controls Limited (Registered number: 05282321)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lighting Controls Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Walker
A French
Ms L K Jordan





SECRETARIES: Ms L K Jordan
D Bywater
Mrs A French
Mrs D Walker
S Wells





REGISTERED OFFICE: 9 St George's Yard
Castle Street
Farnham
Surrey
GU9 7LW





REGISTERED NUMBER: 05282321 (England and Wales)





ACCOUNTANTS: Blackwood Futcher & Co.
Chartered Accountants
9 St George's Yard
Farnham
Surrey
GU9 7LW

Lighting Controls Limited (Registered number: 05282321)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 835,889 797,293
Tangible assets 5 121,450 758,422
957,339 1,555,715

CURRENT ASSETS
Stocks 479,148 286,103
Debtors 6 455,158 733,970
Cash at bank 299,965 145,574
1,234,271 1,165,647
CREDITORS
Amounts falling due within one year 7 309,082 521,893
NET CURRENT ASSETS 925,189 643,754
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,882,528

2,199,469

CREDITORS
Amounts falling due after more than one
year

8

(53,333

)

(393,333

)

PROVISIONS FOR LIABILITIES (32,722 ) (15,287 )
NET ASSETS 1,796,473 1,790,849

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,795,473 1,789,849
SHAREHOLDERS' FUNDS 1,796,473 1,790,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 15 May 2024 and were signed on its behalf by:



A French - Director


Lighting Controls Limited (Registered number: 05282321)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Lighting Controls 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the provision of lighting control equipment and the commissioning of that equipment, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Research and development costs
The directors recognise that amortisation of the research and development costs is aimed at matching their cost against the revenue they help to generate. The directors consider that the revenue will be generated over a four year period and have therefore provided straight line amortisation over ten years. The directors will review this policy on an annual basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Lighting Controls Limited (Registered number: 05282321)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 29 ) .

Lighting Controls Limited (Registered number: 05282321)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 1,449,720
Additions 178,733
At 31 December 2023 1,628,453
AMORTISATION
At 1 January 2023 652,427
Charge for year 140,137
At 31 December 2023 792,564
NET BOOK VALUE
At 31 December 2023 835,889
At 31 December 2022 797,293

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 585,032 246,183 831,215
Additions - 77,592 77,592
Disposals (585,032 ) (117,817 ) (702,849 )
At 31 December 2023 - 205,958 205,958
DEPRECIATION
At 1 January 2023 - 72,793 72,793
Charge for year - 23,916 23,916
Eliminated on disposal - (12,201 ) (12,201 )
At 31 December 2023 - 84,508 84,508
NET BOOK VALUE
At 31 December 2023 - 121,450 121,450
At 31 December 2022 585,032 173,390 758,422

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 448,445 731,721
Other debtors 6,713 2,249
455,158 733,970

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 40,000 40,000
Trade creditors 105,765 224,691
Taxation and social security 149,462 235,014
Other creditors 13,855 22,188
309,082 521,893

Lighting Controls Limited (Registered number: 05282321)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 53,333 93,333
Other loans - 300,000
53,333 393,333

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 93,333 133,333

The bank loan is secured by a fixed and floating charge covering all of the property or undertaking of the company. The security is held by National Westminster Bank PLC.