IRIS Accounts Production v24.1.9.2 03928200 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh039282002022-12-31039282002023-12-31039282002023-01-012023-12-31039282002021-12-31039282002022-01-012022-12-31039282002022-12-3103928200ns15:EnglandWales2023-01-012023-12-3103928200ns14:PoundSterling2023-01-012023-12-3103928200ns10:Director12023-01-012023-12-3103928200ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103928200ns10:SmallEntities2023-01-012023-12-3103928200ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3103928200ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103928200ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103928200ns10:FullAccounts2023-01-012023-12-3103928200ns10:Director22023-01-012023-12-3103928200ns10:RegisteredOffice2023-01-012023-12-3103928200ns5:CurrentFinancialInstruments2023-12-3103928200ns5:CurrentFinancialInstruments2022-12-3103928200ns5:Non-currentFinancialInstruments2023-12-3103928200ns5:Non-currentFinancialInstruments2022-12-3103928200ns5:ShareCapital2023-12-3103928200ns5:ShareCapital2022-12-3103928200ns5:RevaluationReserve2023-12-3103928200ns5:RevaluationReserve2022-12-3103928200ns5:CapitalRedemptionReserve2023-12-3103928200ns5:CapitalRedemptionReserve2022-12-3103928200ns5:RetainedEarningsAccumulatedLosses2023-12-3103928200ns5:RetainedEarningsAccumulatedLosses2022-12-3103928200ns5:PlantMachinery2023-01-012023-12-3103928200ns5:FurnitureFittings2023-01-012023-12-3103928200ns5:MotorVehicles2023-01-012023-12-3103928200ns5:ComputerEquipment2023-01-012023-12-3103928200ns5:LandBuildings2022-12-3103928200ns5:PlantMachinery2022-12-3103928200ns5:FurnitureFittings2022-12-3103928200ns5:LandBuildings2023-01-012023-12-3103928200ns5:LandBuildings2023-12-3103928200ns5:PlantMachinery2023-12-3103928200ns5:FurnitureFittings2023-12-3103928200ns5:LandBuildings2022-12-3103928200ns5:PlantMachinery2022-12-3103928200ns5:FurnitureFittings2022-12-3103928200ns5:MotorVehicles2022-12-3103928200ns5:ComputerEquipment2022-12-3103928200ns5:MotorVehicles2023-12-3103928200ns5:ComputerEquipment2023-12-3103928200ns5:MotorVehicles2022-12-3103928200ns5:ComputerEquipment2022-12-3103928200ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3103928200ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3103928200ns5:Secured2023-12-3103928200ns5:Secured2022-12-3103928200ns5:RevaluationReserve2022-12-31
















Unaudited Financial Statements for the Year Ended 31 December 2023

for

GENERAL LAMPS LIMITED

GENERAL LAMPS LIMITED (Registered number: 03928200)






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


GENERAL LAMPS LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G A Knowles
M S Knowles





REGISTERED OFFICE: Unit 11A
Lane End Industrial Park
Lane End
High Wycombe
HP14 3BY





REGISTERED NUMBER: 03928200 (England and Wales)





ACCOUNTANTS: Abacus Business Consulting Limited
Thistledown
Wendlebury
Bicester
OX25 2PE

GENERAL LAMPS LIMITED (Registered number: 03928200)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 635,834 584,903

CURRENT ASSETS
Stocks 119,356 141,548
Debtors 5 35,922 46,023
Cash at bank and in hand 15,532 5,645
170,810 193,216
CREDITORS
Amounts falling due within one year 6 358,645 328,713
NET CURRENT LIABILITIES (187,835 ) (135,497 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

447,999

449,406

CREDITORS
Amounts falling due after more than one
year

7

(138,000

)

(188,987

)

PROVISIONS FOR LIABILITIES (46,048 ) (39,168 )
NET ASSETS 263,951 221,251

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 9 174,149 119,749
Capital redemption reserve 80,001 80,001
Retained earnings 9,800 21,500
SHAREHOLDERS' FUNDS 263,951 221,251

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.

GENERAL LAMPS LIMITED (Registered number: 03928200)

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 17 September 2024 and were signed on its behalf by:





G A Knowles - Director


GENERAL LAMPS LIMITED (Registered number: 03928200)

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

1. STATUTORY INFORMATION

GENERAL LAMPS 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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on cost
Office equipment - 15% on reducing balance
IT system - 20% on cost

Freehold Property has not been depreciated. The directors consider that the market value is in excess of the cost value and that a depreciation charge would be inappropriate in these circumstances.

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.

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.

GENERAL LAMPS LIMITED (Registered number: 03928200)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles
£    £    £   
COST OR VALUATION
At 1 January 2023 525,600 39,616 32,900
Additions - - -
Revaluations 54,400 - -
At 31 December 2023 580,000 39,616 32,900
DEPRECIATION
At 1 January 2023 - 37,593 9,700
Charge for year - 259 4,200
At 31 December 2023 - 37,852 13,900
NET BOOK VALUE
At 31 December 2023 580,000 1,764 19,000
At 31 December 2022 525,600 2,023 23,200

Office
equipment IT system Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 15,166 145,161 758,443
Additions 3,152 4,371 7,523
Revaluations - - 54,400
At 31 December 2023 18,318 149,532 820,366
DEPRECIATION
At 1 January 2023 15,061 111,186 173,540
Charge for year 265 6,268 10,992
At 31 December 2023 15,326 117,454 184,532
NET BOOK VALUE
At 31 December 2023 2,992 32,078 635,834
At 31 December 2022 105 33,975 584,903

GENERAL LAMPS LIMITED (Registered number: 03928200)

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:

Freehold Plant and Motor
property machinery vehicles
£    £    £   
Valuation in 2017 147,838 - -
Valuation in 2023 54,400 - -
Cost 377,762 39,616 32,900
580,000 39,616 32,900

Office
equipment IT system Totals
£    £    £   
Valuation in 2017 - - 147,838
Valuation in 2023 - - 54,400
Cost 18,318 149,532 618,128
18,318 149,532 820,366

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

2023 2022
£    £   
Cost 377,762 377,762

Freehold property was valued on an open market basis on 3 November 2023 by Phoenix & Partners .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,382 37,927
Other debtors 540 8,096
35,922 46,023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 118,513 105,340
Finance leases 3,131 5,131
Trade creditors 126,041 134,821
Taxation and social security 56,840 63,405
Other creditors 54,120 20,016
358,645 328,713

GENERAL LAMPS LIMITED (Registered number: 03928200)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 119,655 167,361
Finance leases 18,345 21,626
138,000 188,987

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,500 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 150,156 200,461
Finance leases 21,476 26,757
171,632 227,218

Each funding facility is secured on the underlying asset.

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023 119,749
Revaluation Reserve 54,400

At 31 December 2023 174,149