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Registration number: 03322178

Lamplight Consultants Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2024

 

Lamplight Consultants Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Lamplight Consultants Limited

(Registration number: 03322178)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,217

10,587

Current assets

 

Debtors

5

30,276

28,412

Cash at bank and in hand

 

523

2,575

 

30,799

30,987

Creditors: Amounts falling due within one year

6

(23,958)

(21,033)

Net current assets

 

6,841

9,954

Total assets less current liabilities

 

15,058

20,541

Creditors: Amounts falling due after more than one year

6

(12,415)

(18,715)

Provisions for liabilities

(1,578)

(1,690)

Net assets

 

1,065

136

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

965

36

Shareholders' funds

 

1,065

136

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

 

Lamplight Consultants Limited

(Registration number: 03322178)
Statement of Financial Position as at 31 March 2024

Approved and authorised by the Board on 12 November 2024 and signed on its behalf by:
 

.........................................
Mr B H Evans
Company secretary and director

 

Lamplight Consultants Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

2

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 that as disclosed in the accounting policies certain items are shown at fair value.

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax and rebates.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Lamplight Consultants Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% straight line

Motor vehicles

25% reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

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 income statement 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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 

Lamplight Consultants Limited

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

3

Staff numbers

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

4

Tangible assets

Fixtures, fittings and equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

5,127

28,818

33,945

Additions

333

-

333

At 31 March 2024

5,460

28,818

34,278

Depreciation

At 1 April 2023

4,884

18,474

23,358

Charge for the year

117

2,586

2,703

At 31 March 2024

5,001

21,060

26,061

Carrying amount

At 31 March 2024

459

7,758

8,217

At 31 March 2023

243

10,344

10,587

5

Debtors

2024
£

2023
£

Other debtors

30,276

28,412

30,276

28,412

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

7

12,235

12,437

Trade creditors

 

103

1,407

Taxation and social security

 

9,032

3,927

Accruals and deferred income

 

2,588

2,402

Other creditors

 

-

860

 

23,958

21,033

 

Lamplight Consultants Limited

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

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

7

12,415

18,715

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,415

18,715

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,318

6,221

Bank overdrafts

5,917

6,216

12,235

12,437

8

Related party transactions

During the year, the following amounts were advanced to the director:

Transactions with directors

2024

At 1 April 2023
£

At 31 March 2024
£

Mr B H Evans

Amounts advanced

22,255

22,255

 

22,255

22,255

   

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr B H Evans

Amounts advanced

16,732

27,448

(21,925)

22,255

16,732

27,448

(21,925)

22,255

The loan is unsecured and repayable on demand. Interest of £638 (2023: £416) was charged on the loan at the beneficial loan interest rate of 2.25% during the year.