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Registered Number: 08082633
England and Wales

 

 

 

LIGHT CREATIVE LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Directors Anthony James
Natasha James
Registered Number 08082633
Registered Office 7 BELL YARD
LONDON ENGLAND
WC2A 2JR
Accountants Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 May 2024
Principal activities
Principal activity of the company during the financial year was of Motion picture production activities.
Directors
The directors who served the company throughout the year were as follows:
Anthony James
Natasha James
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

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). 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 judgments 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 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. The directors 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Natasha James
Director

Date approved: 21 September 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 May 2024 . 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.
Worth Knowing Accountants Ltd
31 May 2024



....................................................
Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
21 September 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 6,141    3,936 
6,141    3,936 
Current assets      
Debtors 4 12,055    7,792 
Cash at bank and in hand 160,798    150,725 
172,853    158,517 
Creditors: amount falling due within one year 5 (52,864)   (38,722)
Net current assets 119,989    119,795 
 
Total assets less current liabilities 126,130    123,731 
Provisions for liabilities 6   (748)
Net assets 126,130    122,983 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 126,129    122,982 
Shareholders' funds 126,130    122,983 
 


For the year ended 31 May 2024 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 financial statements were approved by the board of directors on 21 September 2024 and were signed on its behalf by:


-------------------------------
Natasha James
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 June 2022 1  106,033  106,034 
Profit for the year 108,949  108,949 
Total comprehensive income for the year 108,949  108,949 
Dividends (92,000) (92,000)
Total investments by and distributions to owners (92,000) (92,000)
At 31 May 2023 1  122,982  122,983 
At 01 June 2023 1  122,982  122,983 
Profit for the year 124,092  124,092 
Total comprehensive income for the year 124,092  124,092 
Dividends (120,945) (120,945)
Total investments by and distributions to owners (120,945) (120,945)
At 31 May 2024 1  126,129  126,130 
5
General Information
LIGHT CREATIVE LTD is a private company, limited by shares, registered in England and Wales, registration number 08082633, registration address 7 BELL YARD, LONDON ENGLAND, WC2A 2JR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Straight Line
Fixtures and Fittings 25% Reducing Balance
Plant and Machinery 25% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 June 2023 18,947    1,031    12,967    32,945 
Additions   1,180    3,968    5,148 
Disposals      
At 31 May 2024 18,947    2,211    16,935    38,093 
Depreciation
At 01 June 2023 18,833    837    9,339    29,009 
Charge for year 29    185    2,729    2,943 
On disposals      
At 31 May 2024 18,862    1,022    12,068    31,952 
Net book values
Closing balance as at 31 May 2024 85    1,189    4,867    6,141 
Opening balance as at 01 June 2023 114    194    3,628    3,936 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 6,000    3,000 
Prepayments & Accrued Income 1,149    1,722 
Other Debtors 4,906    3,070 
12,055    7,792 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 423    1,076 
Corporation Tax 39,321    26,561 
PAYE & Social Security 851    737 
Accrued Expenses 750    750 
Wages & Salaries Control Account   1,048 
Directors' Current Accounts 2,754    868 
VAT 8,765    7,682 
52,864    38,722 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax   748 
  748 

6