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REGISTERED NUMBER: 02190323 (England and Wales)












Financial Statements

for the Year Ended 29th February 2024

for

LIGHT SOURCE SUPPLIES LIMITED

LIGHT SOURCE SUPPLIES LIMITED (REGISTERED NUMBER: 02190323)

Contents of the Financial Statements
for the year ended 29th February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIGHT SOURCE SUPPLIES LIMITED

Company Information
for the year ended 29th February 2024







DIRECTORS: S J Goodwin
T T J Goodwin



SECRETARY: T T J Goodwin



REGISTERED OFFICE: 1 Tower House
Tower Centre
Hoddesdon
Hertfordshire
EN11 8UR



REGISTERED NUMBER: 02190323 (England and Wales)



ACCOUNTANTS: Attenboroughs (Accountants) Limited
Chartered Certified Accountants
1 Tower House
Tower Centre
Hoddesdon
Hertfordshire
EN11 8UR



BANKERS: Lloyds TSB
38 Market Place
Dereham
Norfolk
NR19 2AT

LIGHT SOURCE SUPPLIES LIMITED (REGISTERED NUMBER: 02190323)

Balance Sheet
29th February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 675 902
675 902

CURRENT ASSETS
Stocks 6 57,237 60,778
Debtors 7 15,882 84,769
Cash at bank 6,626 -
79,745 145,547
CREDITORS
Amounts falling due within one year 8 28,496 50,429
NET CURRENT ASSETS 51,249 95,118
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,924

96,020

CREDITORS
Amounts falling due after more than one year 9 (25,833 ) (30,833 )

PROVISIONS FOR LIABILITIES (128 ) (226 )
NET ASSETS 25,963 64,961

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 25,961 64,959
SHAREHOLDERS' FUNDS 25,963 64,961

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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.

LIGHT SOURCE SUPPLIES LIMITED (REGISTERED NUMBER: 02190323)

Balance Sheet - continued
29th February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th November 2024 and were signed on its behalf by:





S J Goodwin - Director


LIGHT SOURCE SUPPLIES LIMITED (REGISTERED NUMBER: 02190323)

Notes to the Financial Statements
for the year ended 29th February 2024


1. STATUTORY INFORMATION

LIGHT SOURCE SUPPLIES 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

LIGHT SOURCE SUPPLIES LIMITED (REGISTERED NUMBER: 02190323)

Notes to the Financial Statements - continued
for the year ended 29th February 2024


2. ACCOUNTING POLICIES - continued

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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st March 2023
and 29th February 2024 67,000
AMORTISATION
At 1st March 2023
and 29th February 2024 67,000
NET BOOK VALUE
At 29th February 2024 -
At 28th February 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st March 2023
and 29th February 2024 6,244 3,098 9,342
DEPRECIATION
At 1st March 2023 5,575 2,865 8,440
Charge for year 168 59 227
At 29th February 2024 5,743 2,924 8,667
NET BOOK VALUE
At 29th February 2024 501 174 675
At 28th February 2023 669 233 902

6. STOCKS
29/2/24 28/2/23
£    £   
Stocks 57,237 60,778

LIGHT SOURCE SUPPLIES LIMITED (REGISTERED NUMBER: 02190323)

Notes to the Financial Statements - continued
for the year ended 29th February 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 11,017 36,734
Amounts owed by group undertakings 4,865 4,865
Directors' current accounts - 43,170
15,882 84,769

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 10,000 13,107
Trade creditors 1,818 23,222
Tax 3,783 7,270
VAT 2,597 2,420
Directors' current accounts 7,923 -
Accrued expenses 2,375 4,410
28,496 50,429

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29/2/24 28/2/23
£    £   
Bank loans - 1-2 years 25,833 30,833

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
2 Ordinary £1 2 2

11. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.