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Registered number: 03106884









EMERGENCY LIGHTING PRODUCTS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
EMERGENCY LIGHTING PRODUCTS LIMITED
REGISTERED NUMBER: 03106884

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
71,710
47,328

Investments
 6 
1
1

  
71,711
47,329

Current assets
  

Stocks
 7 
2,217,060
2,611,299

Debtors: amounts falling due within one year
 8 
2,835,269
2,084,374

Cash at bank and in hand
 9 
1,357,539
895,092

  
6,409,868
5,590,765

Creditors: amounts falling due within one year
 10 
(1,247,573)
(948,527)

Net current assets
  
 
 
5,162,295
 
 
4,642,238

Total assets less current liabilities
  
5,234,006
4,689,567

Provisions for liabilities
  

Deferred tax
  
(14,027)
(7,601)

Net assets
  
5,219,979
4,681,966


Capital and reserves
  

Called up share capital 
  
2,400
2,400

Profit and loss account
  
5,217,579
4,679,566

  
5,219,979
4,681,966


Page 1

 
EMERGENCY LIGHTING PRODUCTS LIMITED
REGISTERED NUMBER: 03106884
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 November 2024.




S J Watson Esq
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
EMERGENCY LIGHTING PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Emergency Lighting Products Limited is a company limited by shares and incorporated in England and Wales. The address of the registered office is 10 Seax Way, Southfields Industrial Estate, Laindon, Basildon, Essex SS15 6SW.
The principal activity of the company continued to be that of the production of emergency lighting products.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
EMERGENCY LIGHTING PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 4

 
EMERGENCY LIGHTING PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases.


Short-term leasehold property
-
25%
Straight Line
Plant and machinery
-
25%
Straight Line
Fixtures and fittings
-
20%
Straight Line
Office equipment
-
33%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 5

 
EMERGENCY LIGHTING PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include materials costs.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. 
 
When payments are eventually made, they are charged to the provision carried in the balance sheet.

 
2.16

Financial instruments

The company only enters into basic financial instrument 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, loans to related parties and investments in ordinary shares.

Page 6

 
EMERGENCY LIGHTING PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No significant judgments, other than a provision for slow moving and obsolete stocks, provision for bad dents and the useful lives of fixed assets have had to be made by management in preparing these financial statements.


4.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Admin
19
19



Production
20
20

39
39


5.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
219,792
45,936
246,041
63,923
575,692


Additions
24,993
-
19,519
2,815
47,327



At 31 December 2023

244,785
45,936
265,560
66,738
623,019



Depreciation


At 1 January 2023
215,195
45,936
205,415
61,818
528,364


Charge for the year on owned assets
3,338
-
17,896
1,711
22,945



At 31 December 2023

218,533
45,936
223,311
63,529
551,309



Net book value



At 31 December 2023
26,252
-
42,249
3,209
71,710



At 31 December 2022
4,597
-
40,626
2,105
47,328

Page 7

 
EMERGENCY LIGHTING PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1



At 31 December 2023
1





7.


Stocks

2023
2022
£
£

Components
1,893,692
2,286,521

Work in progress
323,368
324,778

2,217,060
2,611,299



8.


Debtors

2023
2022
£
£


Trade debtors
1,446,272
1,600,133

Amounts owed by group undertakings
1,300,442
408,435

Prepayments and accrued income
88,555
75,806

2,835,269
2,084,374



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,357,539
895,092

1,357,539
895,092


Page 8

 
EMERGENCY LIGHTING PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
902,143
625,844

Corporation tax
113,989
93,690

Other taxation and social security
84,820
71,052

Accruals and deferred income
146,621
157,941

1,247,573
948,527


Page 9

 
EMERGENCY LIGHTING PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Deferred taxation




2023
2022


£

£






At beginning of year
(7,601)
(10,415)


Charged to profit or loss
(6,426)
2,814



At end of year
(14,027)
(7,601)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(14,027)
(7,601)

(14,027)
(7,601)


12.


Contingent liabilities

An unlimited inter-company guarantee dated 7 May 2004 in favour of National Westminster Bank Plc is secured over the assets of Jordan Reflectors Limited and Emergency Lighting Products Limited. The directors consider the possibility of the company having to make any payments under the terms of the guarantee to be remote, and no provision is required.


13.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £39,143 (2022: £33,318).


14.


Related party transactions

The company has taken advantage of the exemption to disclose related party transactions under FRS 102 s33 as it is a wholly owned subsidiary of Jordan Reflectors Limited, a company registered in England and Wales, and consolidated results are publicly available.

Page 10

 
EMERGENCY LIGHTING PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

15.


Controlling party

The ultimate parent company and controlling entity is Jordan Reflektoren GmbH & Co, a company registered in Germany. The accounts of the ultimate parent company are not publicly available.
The parent company of the smallest group for which consolidated financial statements are publicly available is Jordan Reflectors Limited, a company incorporated in England and Wales, with registered office at 10 Seax Way, Basildon, Essex SS15 6SW. The consolidated financial statements can be obtained from the Registrar of Companies.


16.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 20 November 2024 by Mario Cientanni (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 11