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REGISTERED NUMBER: 07797496 (England and Wales)



















NOTTINGHAM LIGHTING CENTRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






NOTTINGHAM LIGHTING CENTRE LIMITED (REGISTERED NUMBER: 07797496)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


NOTTINGHAM LIGHTING CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr R M O'Neill
Mrs N J O'Neill





REGISTERED OFFICE: 45-51 Maid Marian Way
Nottingham
Nottinghamshire
NG1 6GE





REGISTERED NUMBER: 07797496 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

NOTTINGHAM LIGHTING CENTRE LIMITED (REGISTERED NUMBER: 07797496)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,208
Tangible assets 5 54,207 27,201
54,207 28,409

CURRENT ASSETS
Stocks 6 120,150 140,386
Debtors 7 13,739 12,662
Cash at bank and in hand 631,493 570,898
765,382 723,946
CREDITORS
Amounts falling due within one year 8 290,374 263,891
NET CURRENT ASSETS 475,008 460,055
TOTAL ASSETS LESS CURRENT LIABILITIES 529,215 488,464

CREDITORS
Amounts falling due after more than one year 9 (39,477 ) (22,253 )

PROVISIONS FOR LIABILITIES (15,577 ) (6,235 )
NET ASSETS 474,161 459,976

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 474,061 459,876
SHAREHOLDERS' FUNDS 474,161 459,976

NOTTINGHAM LIGHTING CENTRE LIMITED (REGISTERED NUMBER: 07797496)

BALANCE SHEET - continued
31 JANUARY 2024


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

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

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 16 October 2024 and were signed on its behalf by:





Mrs N J O'Neill - Director


NOTTINGHAM LIGHTING CENTRE LIMITED (REGISTERED NUMBER: 07797496)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Nottingham Lighting Centre 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 derived from wholesale, retail and supply of electrical light fittings and associated items, measured at the fair value of the consideration received or receivable, excluding discount, rebates, and other sales taxes.

Intangible assets
Amortisation is calculated so as to write off the cost of the asset, less its estimated residual value, over the useful economic life of that asset as follows:

Computer software - Website - 5 years straight line

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost and Straight line over 1 year

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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 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.


NOTTINGHAM LIGHTING CENTRE LIMITED (REGISTERED NUMBER: 07797496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 7,250
AMORTISATION
At 1 February 2023 6,042
Charge for year 1,208
At 31 January 2024 7,250
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 1,208

NOTTINGHAM LIGHTING CENTRE LIMITED (REGISTERED NUMBER: 07797496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 1,404 26,232 31,840 30,870 90,346
Additions - 6,849 42,000 11,896 60,745
Disposals - - (30,834 ) (30,072 ) (60,906 )
At 31 January 2024 1,404 33,081 43,006 12,694 90,185
DEPRECIATION
At 1 February 2023 1,404 20,911 25,519 15,311 63,145
Charge for year - 1,979 9,682 15,981 27,642
Eliminated on disposal - - (24,737 ) (30,072 ) (54,809 )
At 31 January 2024 1,404 22,890 10,464 1,220 35,978
NET BOOK VALUE
At 31 January 2024 - 10,191 32,542 11,474 54,207
At 31 January 2023 - 5,321 6,321 15,559 27,201

6. STOCKS
2024 2023
£    £   
Finished goods 120,150 140,386

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 702 125
Other debtors 1,357 2,201
Prepayments and accrued income 11,680 10,336
13,739 12,662

NOTTINGHAM LIGHTING CENTRE LIMITED (REGISTERED NUMBER: 07797496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 6,417 -
Trade creditors 136,157 130,484
Corporation tax 28,846 27,762
Social security and other taxes 1,065 -
VAT 7,911 8,362
Other creditors 96 86
Directors' current accounts 95,199 83,521
Accruals and deferred income 4,683 3,676
290,374 263,891

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 14,014 22,253
Hire purchase contracts 25,463 -
39,477 22,253

10. CALLED UP SHARE CAPITAL

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

11. OTHER FINANCIAL COMMITMENTS

The company had total commitments, guarantees and contingencies not included in the balance sheet of £167,521. (2023 - £214,271).

12. RELATED PARTY DISCLOSURES

2024 2023
£ £
Amount due to the directors at the balance sheet date 77,199 83,521

The amounts are interest free, and have no formal repayment terms.