3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1,357 998 2,355 904 333 1,237 1,118 453 xbrli:pure xbrli:shares iso4217:GBP 12568792 2023-04-01 2024-03-31 12568792 2024-03-31 12568792 2023-03-31 12568792 2022-04-01 2023-03-31 12568792 2023-03-31 12568792 2022-03-31 12568792 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 12568792 bus:Director1 2023-04-01 2024-03-31 12568792 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 12568792 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 12568792 core:ExternallyAcquiredIntangibleAssets core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 12568792 core:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 12568792 core:InternallyGeneratedIntangibleAssets 2023-04-01 2024-03-31 12568792 core:AfterOneYear 2024-03-31 12568792 core:AfterOneYear 2023-03-31 12568792 core:WithinOneYear 2024-03-31 12568792 core:WithinOneYear 2023-03-31 12568792 core:ShareCapital 2024-03-31 12568792 core:ShareCapital 2023-03-31 12568792 core:RetainedEarningsAccumulatedLosses 2024-03-31 12568792 core:RetainedEarningsAccumulatedLosses 2023-03-31 12568792 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 12568792 bus:SmallEntities 2023-04-01 2024-03-31 12568792 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12568792 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12568792 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12568792 bus:FullAccounts 2023-04-01 2024-03-31 12568792 core:ComputerSoftware 2023-04-01 2024-03-31 12568792 core:OfficeEquipment 2023-04-01 2024-03-31 12568792 core:ComputerSoftware 2023-03-31 12568792 core:ComputerSoftware core:InternallyGeneratedIntangibleAssets 2023-04-01 2024-03-31 12568792 core:ComputerSoftware 2024-03-31 12568792 core:OfficeEquipment 2023-03-31 12568792 core:OfficeEquipment 2024-03-31 12568792 bus:Director1 1 2023-04-01 2024-03-31 12568792 core:AllAssociates 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 12568792
LED Snaps Limited
Filleted Unaudited Financial Statements
31 March 2024
LED Snaps Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
LED Snaps Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
17,179
15,700
Tangible assets
6
1,118
453
--------
--------
18,297
16,153
Current assets
Stocks
61,191
87,609
Debtors
7
37,230
27,951
Cash at bank and in hand
13,438
17,179
---------
---------
111,859
132,739
Creditors: amounts falling due within one year
8
322,812
178,152
---------
---------
Net current liabilities
210,953
45,413
---------
--------
Total assets less current liabilities
( 192,656)
( 29,260)
Creditors: amounts falling due after more than one year
9
77,000
130,040
---------
---------
Net liabilities
( 269,656)
( 159,300)
---------
---------
Capital and reserves
Called up share capital
300
300
Profit and loss account
( 269,956)
( 159,600)
---------
---------
Shareholders deficit
( 269,656)
( 159,300)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
LED Snaps Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 7 November 2024 , and are signed on behalf of the board by:
I D Kirby
Director
Company registration number: 12568792
LED Snaps Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences
-
33% straight line
Development
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Intangible assets
Patents, trademarks and licences
Development
Total
£
£
£
Cost
At 1 April 2023
5,035
23,224
28,259
Additions
335
335
Additions from internal developments
9,500
9,500
-------
--------
--------
At 31 March 2024
5,370
32,724
38,094
-------
--------
--------
Amortisation
At 1 April 2023
3,269
9,290
12,559
Charge for the year
1,811
6,545
8,356
-------
--------
--------
At 31 March 2024
5,080
15,835
20,915
-------
--------
--------
Carrying amount
At 31 March 2024
290
16,889
17,179
-------
--------
--------
At 31 March 2023
1,766
13,934
15,700
-------
--------
--------
6. Tangible assets
Equipment
£
Cost
At 1 April 2023
1,357
Additions
998
-------
At 31 March 2024
2,355
-------
Depreciation
At 1 April 2023
904
Charge for the year
333
-------
At 31 March 2024
1,237
-------
Carrying amount
At 31 March 2024
1,118
-------
At 31 March 2023
453
-------
7. Debtors
2024
2023
£
£
Trade debtors
16,997
14,525
Other debtors
20,233
13,426
--------
--------
37,230
27,951
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
130,186
Social security and other taxes
413
Amounts owed to participating interests
188,621
174,229
Other creditors
3,592
3,923
---------
---------
322,812
178,152
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
77,000
77,000
Trade creditors
53,040
--------
---------
77,000
130,040
--------
---------
10. Directors' advances, credits and guarantees
At the year end date, the directors owed the company £64 (2023: Nil). This balance was repaid within 9 months of the year end date, and no interest was charged on this loan.
11. Related party transactions
At the year end date, the company owed £188,621 (2023: £174,229) to a company associated by common control.
12. Controlling party
Lumos Lighting Group Ltd is the parent company of the entity (company number: 14276982), a company incorporated in England and Wales, who owns 100% of the share capital. The address of Lumos Lighting Group Ltd is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN .