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REGISTERED NUMBER: 01513210 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

FIRSTLIGHT PRODUCTS LIMITED

FIRSTLIGHT PRODUCTS LIMITED (REGISTERED NUMBER: 01513210)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIRSTLIGHT PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: G Furst
S Furst





SECRETARY: S Furst





REGISTERED OFFICE: 5 Beaumont Gate
Shenley Hill
Radlett
Hertfordshire
WD7 7AR





REGISTERED NUMBER: 01513210 (England and Wales)





ACCOUNTANTS: Nagler Simmons
Chartered Accountants
5 Beaumont Gate
Shenley Hill
Radlett
WD7 7AR

FIRSTLIGHT PRODUCTS LIMITED (REGISTERED NUMBER: 01513210)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 800 800
Tangible assets 5 85,415 60,927
86,215 61,727

CURRENT ASSETS
Stocks 1,024,531 1,166,487
Debtors 6 590,713 677,039
Cash at bank and in hand 2,426,941 2,258,212
4,042,185 4,101,738
CREDITORS
Amounts falling due within one year 7 274,532 323,300
NET CURRENT ASSETS 3,767,653 3,778,438
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,853,868

3,840,165

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 3,848,868 3,835,165
SHAREHOLDERS' FUNDS 3,853,868 3,840,165

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

FIRSTLIGHT PRODUCTS LIMITED (REGISTERED NUMBER: 01513210)

BALANCE SHEET - continued
31ST MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th September 2024 and were signed on its behalf by:





G Furst - Director


FIRSTLIGHT PRODUCTS LIMITED (REGISTERED NUMBER: 01513210)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Firstlight Products 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% on reducing balance and 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


FIRSTLIGHT PRODUCTS LIMITED (REGISTERED NUMBER: 01513210)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

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
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 21 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st April 2023
and 31st March 2024 800
NET BOOK VALUE
At 31st March 2024 800
At 31st March 2023 800

FIRSTLIGHT PRODUCTS LIMITED (REGISTERED NUMBER: 01513210)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2023 8,861 575,665 584,526
Additions - 50,510 50,510
At 31st March 2024 8,861 626,175 635,036
DEPRECIATION
At 1st April 2023 8,861 514,738 523,599
Charge for year - 26,022 26,022
At 31st March 2024 8,861 540,760 549,621
NET BOOK VALUE
At 31st March 2024 - 85,415 85,415
At 31st March 2023 - 60,927 60,927

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 425,619 591,007
Other debtors 165,094 86,032
590,713 677,039

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 36,262 76,077
Taxation and social security 188,932 212,873
Other creditors 49,338 34,350
274,532 323,300

8. LEASING AGREEMENTS
At 31 March 2024, the company had a total commitment under non-cancellable operating leases over their remaining life of £1,270,608 ( 2023-£135,423)