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Registration number: 13899416

Naleni Lighting Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Naleni Lighting Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Naleni Lighting Ltd

Company Information

Director

Mr M P W Joiner

Registered office

33 Anstey Street
Bristol
BS5 6DG

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Naleni Lighting Ltd

(Registration number: 13899416)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

11,657

15,542

Current assets

 

Debtors

4

1,559

121

Cash at bank and in hand

 

19,234

11,960

 

20,793

12,081

Creditors: Amounts falling due within one year

5

(25,542)

(16,716)

Net current liabilities

 

(4,749)

(4,635)

Total assets less current liabilities

 

6,908

10,907

Provisions for liabilities

(2,914)

(2,953)

Net assets

 

3,994

7,954

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

3,993

7,953

Shareholders' funds

 

3,994

7,954

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Naleni Lighting Ltd

(Registration number: 13899416)
Balance Sheet as at 29 February 2024

Approved and authorised by the director on 19 September 2024
 

.........................................
Mr M P W Joiner
Director

 

Naleni Lighting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

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.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Naleni Lighting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet 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

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Naleni Lighting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Naleni Lighting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

1,622

19,099

20,721

At 29 February 2024

1,622

19,099

20,721

Depreciation

At 1 March 2023

405

4,774

5,179

Charge for the year

304

3,581

3,885

At 29 February 2024

709

8,355

9,064

Carrying amount

At 29 February 2024

913

10,744

11,657

At 28 February 2023

1,217

14,325

15,542

4

Debtors

Current

2024
£

2023
£

Trade debtors

827

-

Prepayments

530

121

Other debtors

202

-

 

1,559

121

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

11,475

6,552

Accruals and deferred income

1,500

1,200

Other creditors

12,567

8,964

25,542

16,716

 

Naleni Lighting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

7

Related party transactions

Loans from related parties

2024

Key management
£

Total
£

At start of period

8,963

8,963

Advanced

23,871

23,871

Repaid

(20,267)

(20,267)

At end of period

12,567

12,567

2023

Key management
£

Total
£

Advanced

36,296

36,296

Repaid

(27,333)

(27,333)

At end of period

8,963

8,963