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REGISTERED NUMBER: 05474103 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Lightcredit Holdings Limited

Lightcredit Holdings Limited (Registered number: 05474103)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lightcredit Holdings Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: G P Hymanson
Miss L N Hymanson
Miss C R Hymanson





SECRETARY: Mrs N Hymanson





REGISTERED OFFICE: Reedham House
31 King Street West
Manchester
M3 2PJ





REGISTERED NUMBER: 05474103 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Lightcredit Holdings Limited (Registered number: 05474103)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,063,902 2,095,841
Investments 5 100 100
2,064,002 2,095,941

CURRENT ASSETS
Debtors 6 339,639 369,852
Cash at bank 53,985 116,012
393,624 485,864
CREDITORS
Amounts falling due within one year 7 114,746 104,482
NET CURRENT ASSETS 278,878 381,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,342,880

2,477,323

PROVISIONS FOR LIABILITIES 51,498 49,501
NET ASSETS 2,291,382 2,427,822

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,290,382 2,426,822
SHAREHOLDERS' FUNDS 2,291,382 2,427,822

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Lightcredit Holdings Limited (Registered number: 05474103)

Balance Sheet - continued
30 June 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 15 November 2024 and were signed on its behalf by:





G P Hymanson - Director


Lightcredit Holdings Limited (Registered number: 05474103)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Lightcredit Holdings 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

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.

Preparation of consolidated financial statements
The financial statements contain information about Lightcredit Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Grant income
Grants of a revenue nature are credited to income in the period to which they relate.

Interest income
Interest income is recognised in the statement of comprehensive income using the effective interest method.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost. Income from investments in subsidiaries undertakings are accounted for when received.

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.


Lightcredit Holdings Limited (Registered number: 05474103)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

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.

Going concern
The company's financial statements for the year ended 30 June 2024 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 2,102,054 769,885 8,761 2,880,700
Additions 13,000 35,479 - 48,479
At 30 June 2024 2,115,054 805,364 8,761 2,929,179
DEPRECIATION
At 1 July 2023 249,000 527,994 7,865 784,859
Charge for year 42,353 37,841 224 80,418
At 30 June 2024 291,353 565,835 8,089 865,277
NET BOOK VALUE
At 30 June 2024 1,823,701 239,529 672 2,063,902
At 30 June 2023 1,853,054 241,891 896 2,095,841

Lightcredit Holdings Limited (Registered number: 05474103)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 100
NET BOOK VALUE
At 30 June 2024 100
At 30 June 2023 100


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,835 3,770
Amounts owed by group undertakings 328,112 362,789
Other debtors 6,692 3,293
339,639 369,852

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,440 5,590
Amounts owed to group undertakings 26,393 27,443
Taxation and social security 60,390 48,852
Other creditors 24,523 22,597
114,746 104,482

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Section 1A "Small Entities" of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE PARENT UNDERTAKING

At the balance sheet date the company's parent undertaking was Lightcredit Holdings (2022) Limited, a company incorporated and registered in England. Copies of the financial statements of Lightcredit Holdings (2022) Limited can be obtained from the registered office of that entity which is the same as this company and the address can be found on the Company Information page.