Bulbs4life Limited 06991158 true 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is the retail sale of LED lamps. The company did not trade in the year Digita Accounts Production Advanced 6.30.9574.0 true M Blanchfield true 06991158 2023-09-01 2024-08-31 06991158 2024-08-31 06991158 core:RetainedEarningsAccumulatedLosses 2024-08-31 06991158 core:ShareCapital 2024-08-31 06991158 core:CurrentFinancialInstruments 2024-08-31 06991158 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 06991158 bus:FRS102 2023-09-01 2024-08-31 06991158 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 06991158 bus:FullAccounts 2023-09-01 2024-08-31 06991158 bus:Director1 2023-09-01 2024-08-31 06991158 bus:EntityNoLongerTradingButTradedInPast 2023-09-01 2024-08-31 06991158 bus:Consolidated 2023-09-01 2024-08-31 06991158 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 06991158 core:OtherRelatedParties 2023-09-01 2024-08-31 06991158 countries:EnglandWales 2023-09-01 2024-08-31 06991158 2022-09-01 2023-08-31 06991158 2023-08-31 06991158 core:RetainedEarningsAccumulatedLosses 2023-08-31 06991158 core:ShareCapital 2023-08-31 06991158 core:CurrentFinancialInstruments 2023-08-31 06991158 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 06991158

Bulbs4life Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Bulbs4life Limited

Profit and Loss Account for the Year Ended 31 August 2024

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Bulbs4life Limited

(Registration number: 06991158)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Creditors: Amounts falling due within one year

(178,730)

(178,730)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(178,830)

(178,830)

Shareholders' deficit

 

(178,730)

(178,730)

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 8 October 2024
 


M Blanchfield
Director

 

Bulbs4life Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

The company is dependant on the support of the director who has indicated his willingness to continue to support the company for the foreseeable future. The director therefore considers it appropriate to prepare thefinancial statements on a going concern basis.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

Bulbs4life Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

3

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

178,730

178,730

4

Related party transactions

Summary of transactions with other related parties

At 31 August 2024, the company owed £178,730 (2023: £178,730) to the director in the form of a director's loan account. No interest has been charged and there are no fixed terms for repayment.