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REGISTERED NUMBER: 10034244 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Laser Limited

Laser Limited (Registered number: 10034244)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Laser Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Smith
C E Smith





REGISTERED OFFICE: Alexandra House
43 Alexandra Street
Nottingham
Nottinghamshire
NG5 1AY





BUSINESS ADDRESS: Unit 3
Drakehouse Court
Hamilton Road
Sutton-in-Ashfield
Nottinghamshire
NG17 5LD





REGISTERED NUMBER: 10034244 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Alexandra House
43 Alexandra St
Nottingham
Nottinghamshire
NG5 1AY

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Laser Limited

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 Laser Limited for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 Laser Limited, 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 Laser Limited and state those matters that we have agreed to state to the Board of Directors of Laser Limited, 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 Laser Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Laser Limited 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 Laser Limited. You consider that Laser Limited 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 Laser Limited. 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Alexandra House
43 Alexandra St
Nottingham
Nottinghamshire
NG5 1AY


23 September 2024

Laser Limited (Registered number: 10034244)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 211,552 288,315

CURRENT ASSETS
Stocks 50,011 74,324
Debtors 5 2,595,990 2,168,423
Cash at bank 145,021 32,508
2,791,022 2,275,255
CREDITORS
Amounts falling due within one year 6 2,093,277 1,636,313
NET CURRENT ASSETS 697,745 638,942
TOTAL ASSETS LESS CURRENT
LIABILITIES

909,297

927,257

CREDITORS
Amounts falling due after more than one
year

7

(179,183

)

(272,635

)

PROVISIONS FOR LIABILITIES (52,888 ) (73,252 )
NET ASSETS 677,226 581,370

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 677,126 581,270
677,226 581,370

Laser Limited (Registered number: 10034244)

Balance Sheet - continued
31 December 2023


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.

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 23 September 2024 and were signed on its behalf by:





R Smith - Director


Laser Limited (Registered number: 10034244)

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

1. STATUTORY INFORMATION

Laser 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.

The financial statements are prepared in sterling which is the functional currency of the entity.

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 from sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods.

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 - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 2 ) .

Laser Limited (Registered number: 10034244)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 569,812 2,953 572,765
DEPRECIATION
At 1 January 2023 282,378 2,072 284,450
Charge for year 76,572 191 76,763
At 31 December 2023 358,950 2,263 361,213
NET BOOK VALUE
At 31 December 2023 210,862 690 211,552
At 31 December 2022 287,434 881 288,315

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,420,829 2,018,557
Other debtors 175,161 149,866
2,595,990 2,168,423

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 93,487 93,475
Trade creditors 535,827 539,519
Amounts owed to group undertakings 1,348,807 889,094
Taxation and social security 108,275 108,353
Other creditors 6,881 5,872
2,093,277 1,636,313

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 179,183 272,635

8. RELATED PARTY DISCLOSURES

Quickits Ltd


Quickits Ltd is a fellow subsidiary of Quickits Holdings Ltd, which is the parent company. R Smith and C Smith are directors of each company.

The following related party transactions occurred during the year:

Sales to Quickits of £413,922 (2022 - £515,142)
Purchases from Quickits of £12,893 (2022 - £nil)
Debtors due from Quickits at the year end of £2,359,264 (2022 - £1,875,337)
Creditors payable to Quickits at the year end of £358,481 (2022 - £347,434)

Laser Limited (Registered number: 10034244)

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

8. RELATED PARTY DISCLOSURES - continued

Premier Powder Coating Ltd


Premier Powder Coating Ltd is a company in which R Smith is also a director.

The following related party transactions occurred during the year:

Purchases from Premier Powder Coating of £39,381 (2022 - £37,647)
Creditors payable to Premier Powder Coating at the year end of £120,953 (2022 - £73,696)

9. ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary of Quickits Holdings Limited, a company registered in England and Wales, whose Registered Office address is Alexandra House, 43 Alexandra Street, Nottingham, NG5 1AY.