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REGISTERED NUMBER: 08471748 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

FELIX LIGHTING SPECIALISTS LTD

FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


FELIX LIGHTING SPECIALISTS LTD

Company Information
for the year ended 31 March 2024







DIRECTORS: G J May
V J L May





SECRETARY: V J L May





REGISTERED OFFICE: 11 Laura Place
Bath
Avon
BA2 4BL





REGISTERED NUMBER: 08471748 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Felix Lighting Specialists Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Felix Lighting Specialists Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Felix Lighting Specialists Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Felix Lighting Specialists Ltd and state those matters that we have agreed to state to the Board of Directors of Felix Lighting Specialists Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Felix Lighting Specialists Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Felix Lighting Specialists Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Felix Lighting Specialists Ltd. You consider that Felix Lighting Specialists Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Felix Lighting Specialists Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


24 September 2024

FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,003,737 196,551
1,003,737 196,551

CURRENT ASSETS
Stocks 349,176 376,973
Debtors 6 183,672 122,032
Cash at bank 14,278 704,823
547,126 1,203,828
CREDITORS
Amounts falling due within one year 7 171,903 241,862
NET CURRENT ASSETS 375,223 961,966
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,378,960

1,158,517

CREDITORS
Amounts falling due after more than one
year

8

(398,986

)

(22,435

)

PROVISIONS FOR LIABILITIES 10 (12,271 ) (13,478 )
NET ASSETS 967,703 1,122,604

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 967,603 1,122,504
SHAREHOLDERS' FUNDS 967,703 1,122,604

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

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

FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)

Balance Sheet - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





V J L May - Director


FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Felix Lighting Specialists Ltd 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, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when goods are delivered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2014, is being amortised evenly over its useful life of five years and is now fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 10% on cost
Office Equipment - 15% on reducing balance
Fixtures and fittings - 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 instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

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 the income statement.

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 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 the company would receive for the assets if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet 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.


FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

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.

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.

Critical accounting estimates and judgements
No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 10,000
AMORTISATION
At 1 April 2023
and 31 March 2024 10,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to Office and
property property Equipment fittings Totals
£    £    £    £    £   
COST
At 1 April 2023 - 227,786 12,877 57,040 297,703
Additions 798,294 40,552 2,556 - 841,402
At 31 March 2024 798,294 268,338 15,433 57,040 1,139,105
DEPRECIATION
At 1 April 2023 - 65,594 4,749 30,809 101,152
Charge for year - 26,833 2,137 5,246 34,216
At 31 March 2024 - 92,427 6,886 36,055 135,368
NET BOOK VALUE
At 31 March 2024 798,294 175,911 8,547 20,985 1,003,737
At 31 March 2023 - 162,192 8,128 26,231 196,551

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 179,472 116,061
Other debtors 4,200 5,971
183,672 122,032

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 38,597 9,952
Trade creditors 10,084 27,970
Taxation and social security 94,868 196,131
Other creditors 28,354 7,809
171,903 241,862

FELIX LIGHTING SPECIALISTS LTD (REGISTERED NUMBER: 08471748)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 398,986 22,435

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 313,164 -

Included within bank loans is a government supported bounce back loan.

9. SECURED DEBTS

Barclays Bank PLC has a fixed and floating charge over the undertaking of the company and all property and assets.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 12,271 13,478

Deferred
tax
£   
Balance at 1 April 2023 13,478
Accelerated capital allowances (1,207 )
Balance at 31 March 2024 12,271

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
73 Ordinary £1 73 73
27 Ordinary A £1 27 27
100 100

All share classes have full voting and dividend rights.

12. OUTSTANDING LEASE COMMITMENTS

At the year end, the company was committed to outstanding lease payments of £36,000 (2023: £72,000) payable within one year.