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REGISTERED NUMBER: 00682184 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Tyson Lighting Limited

Tyson Lighting Limited (Registered number: 00682184)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tyson Lighting Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P A Gibson
A P L Gibson





REGISTERED OFFICE: Gibson House
Walpole Street
Blackburn
Lancashire
BB1 1DB





REGISTERED NUMBER: 00682184 (England and Wales)





ACCOUNTANTS: Egan Roberts Limited
Accountants
Citygate
Longridge Road
Preston
Lancashire
PR2 5BQ

Tyson Lighting Limited (Registered number: 00682184)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,098,728 682,348
Investments 5 10,052 10,052
1,108,780 692,400

CURRENT ASSETS
Stocks 6 426,345 439,605
Debtors 7 1,103,657 1,353,166
Cash at bank and in hand 129,664 58,184
1,659,666 1,850,955
CREDITORS
Amounts falling due within one year 8 1,820,196 1,858,101
NET CURRENT LIABILITIES (160,530 ) (7,146 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

948,250

685,254

CREDITORS
Amounts falling due after more than
one year

9

(264,101

)

(331,998

)

ACCRUALS AND DEFERRED INCOME (15,841 ) (19,578 )
NET ASSETS 668,308 333,678

CAPITAL AND RESERVES
Called up share capital 900 900
Revaluation reserve 794,625 321,335
Retained earnings (127,217 ) 11,443
SHAREHOLDERS' FUNDS 668,308 333,678

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.

Tyson Lighting Limited (Registered number: 00682184)

Balance Sheet - continued
31 December 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 3 September 2024 and were signed on its behalf by:





A P L Gibson - Director


Tyson Lighting Limited (Registered number: 00682184)

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

1. STATUTORY INFORMATION

Tyson Lighting 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 as modified by the revaluation of certain assets.

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
Fixtures and fittings - Electric MVs 100% in year of purchase
Motor vehicles - Electric MVs 100% in year of purchase

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Tyson Lighting Limited (Registered number: 00682184)

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

2. ACCOUNTING POLICIES - continued

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.

Short term debtors & creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 30 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 564,299 525,009 164,837 1,254,145
Additions - 13,240 - 13,240
Disposals - (254,454 ) - (254,454 )
Revaluations 324,086 - - 324,086
Reclassification/transfer 61,615 (61,615 ) - -
At 31 December 2023 950,000 222,180 164,837 1,337,017
DEPRECIATION
At 1 January 2023 96,500 431,199 44,098 571,797
Charge for year 9,651 29,970 30,529 70,150
Eliminated on disposal - (254,454 ) - (254,454 )
Revaluation adjustments (149,204 ) - - (149,204 )
Reclassification/transfer 43,053 (43,053 ) - -
At 31 December 2023 - 163,662 74,627 238,289
NET BOOK VALUE
At 31 December 2023 950,000 58,518 90,210 1,098,728
At 31 December 2022 467,799 93,810 120,739 682,348

Included in cost or valuation of land and buildings is freehold land of £ 81,799 (2022 - £ 81,799 ) which is not depreciated.

Tyson Lighting Limited (Registered number: 00682184)

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
Valuation in 2023 950,000 - - 950,000
Cost - 222,180 164,837 387,017
950,000 222,180 164,837 1,337,017

If freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 625,913 345,621
Aggregate depreciation 149,203 158,293

Value of land in freehold land and buildings 81,799 81,799

Freehold property was valued on an open market basis on 31 December 2023 by Trevor Dawson, Chartered Surveyors .

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Vehicle registration plates 10,052 10,052

6. STOCKS
2023 2022
£    £   
Finished goods and goods for resale 426,345 439,605

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 64,480 272,076
Prepayments and accrued income 46,517 17,069
110,997 289,145

Tyson Lighting Limited (Registered number: 00682184)

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

7. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 992,660 1,064,021

Aggregate amounts 1,103,657 1,353,166

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,566 5,566
Mortgage 55,929 54,417
Other loans 326,500 -
Hire purchase contracts (see note 10) 11,642 11,642
Trade creditors 210,840 910,093
Social security and other taxes 223,432 261,770
VAT 407,256 496,948
Other creditors 526,728 5,499
Wages Payable 4,612 3,437
Directors' loan accounts 26,359 73,461
Accrued expenses 21,332 35,268
1,820,196 1,858,101

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,566 5,566
Bank loans - 2-5 years 6,494 11,596
Bank loans more 5 yr by instal 18,360 18,865
Mortgage more than 1 year 152,544 203,193
Hire purchase contracts (see note 10) 81,137 92,778
264,101 331,998

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 18,360 18,865

Tyson Lighting Limited (Registered number: 00682184)

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

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 11,642 11,642
Between one and five years 81,137 92,778
92,779 104,420

11. RELATED PARTY DISCLOSURES

In 2023, Rachel Cowgill, spouse of Mr. Andrew Gibson, a director and ultimate controlling party of Harold Tyson & Co Limited as the majority shareholder, extended a loan of £326,500.00 to the company. Subsequently, in January 2024, the company settled the entire loan."

12. ULTIMATE CONTROLLING PARTY

The company is under the control of Harold Tyson & Co Limited. The ultimate controlling party is Mr Andrew Gibson, as the majority shareholder of Harold Tyson & Co Limited.