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REGISTERED NUMBER: 06507683 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

LIGHTING DESIGN SOLUTIONS LIMITED

LIGHTING DESIGN SOLUTIONS LIMITED (REGISTERED NUMBER: 06507683)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIGHTING DESIGN SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: M A Bailey
Mrs T A Brett





REGISTERED OFFICE: Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP





REGISTERED NUMBER: 06507683 (England and Wales)





ACCOUNTANTS: Cook & Partners Limited
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

LIGHTING DESIGN SOLUTIONS LIMITED (REGISTERED NUMBER: 06507683)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,782 10,468

CURRENT ASSETS
Stocks 242,999 129,550
Debtors 5 184,447 130,714
Cash at bank and in hand 23,680 116,671
451,126 376,935
CREDITORS
Amounts falling due within one year 6 312,255 227,735
NET CURRENT ASSETS 138,871 149,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

146,653

159,668

CREDITORS
Amounts falling due after more than one
year

7

(11,369

)

(21,594

)

PROVISIONS FOR LIABILITIES (1,479 ) (2,091 )
NET ASSETS 133,805 135,983

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 133,804 135,982
SHAREHOLDERS' FUNDS 133,805 135,983

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

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

LIGHTING DESIGN SOLUTIONS LIMITED (REGISTERED NUMBER: 06507683)

BALANCE SHEET - continued
31ST MAY 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 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 5th November 2024 and were signed on its behalf by:





M A Bailey - Director


LIGHTING DESIGN SOLUTIONS LIMITED (REGISTERED NUMBER: 06507683)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

Lighting Design Solutions 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

Accounting convention
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.

Going concern justification
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could effect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31st May 2024 have been prepared using the going concern basis of accounting.

Revenue
Revenue - Described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services once completed..

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipmt - 25% on cost

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.


LIGHTING DESIGN SOLUTIONS LIMITED (REGISTERED NUMBER: 06507683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 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.

Leased assets
Where assets are financed by leasing agreements that give rights approximately to ownership ("finance leases") the assets are treated as if they had been purchased outright. The amount capitalised is the fair value of the asset concerned. The corresponding liability to the leasing company is included as an obligation under finance leases. Depreciation of leased assets is charged to the profit and loss account over the short of the lease terms and their useful lives. Leasing payments are treated as consisting of capital and interest elements, and interest is charged to the profit and loss account on a straight line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.

All other leases are treated as "operating leases" and the relevant annual rentals are charged to the profit and loss account on a straight line basis over the lease term; unless they relate to vacant leasehold properties in which case provision is made on a discounted basis for the net obligation under the lease. The unwinding of the discount is disclosed within interest payable and similar charges.

The company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard (1 January 2014) to continue to be charged over the period to the first market rent review rather than the term of the lease. For leases entered into on or after 1 January 2014, reverse premiums and similar incentives received to enter into operating lease agreements are released to profit or loss over the term 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.

3. EMPLOYEES AND DIRECTORS

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

LIGHTING DESIGN SOLUTIONS LIMITED (REGISTERED NUMBER: 06507683)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipmt Totals
£    £    £    £   
COST
At 1st June 2023
and 31st May 2024 78,759 21,093 13,807 113,659
DEPRECIATION
At 1st June 2023 73,578 15,806 13,807 103,191
Charge for year 1,365 1,321 - 2,686
At 31st May 2024 74,943 17,127 13,807 105,877
NET BOOK VALUE
At 31st May 2024 3,816 3,966 - 7,782
At 31st May 2023 5,181 5,287 - 10,468

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,407 103,601
Other debtors 159,378 10,451
Prepayments 16,662 16,662
184,447 130,714

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,225 9,973
Trade creditors 239,614 122,311
Social security and other taxes 6,035 5,149
VAT 11,796 46,446
Other creditors 12,159 11,430
Directors' current accounts 29,426 29,426
Accrued expenses 3,000 3,000
312,255 227,735

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 11,369 10,225
Bank loans - 2-5 years - 11,369
11,369 21,594