Company registration number 04392931 (England and Wales)
ROBOLIGHTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ROBOLIGHTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ROBOLIGHTS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
3,616
9,040
Tangible assets
4
57,270
124,558
60,886
133,598
Current assets
Stocks
489,167
16,612
Debtors
5
244,904
70,604
Cash at bank and in hand
1,744,128
561,666
2,478,199
648,882
Creditors: amounts falling due within one year
6
(2,070,262)
(179,183)
Net current assets
407,937
469,699
Total assets less current liabilities
468,823
603,297
Creditors: amounts falling due after more than one year
7
(9,129)
-
0
Net assets
459,694
603,297
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
458,694
602,297
Total equity
459,694
603,297

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

ROBOLIGHTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 November 2024 and are signed on its behalf by:
Mrs J A Baycock
Mr J P Baycock
Director
Director
Company registration number 04392931 (England and Wales)
ROBOLIGHTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Robolights Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 G D Units, Cofton Road, Marsh Barton, Exeter, EX2 8QW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website costs
10% straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

ROBOLIGHTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
nil
Plant and equipment
10% reducing balance
Fixtures and fittings
10% reducing balance
Computers
10% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
9
8
ROBOLIGHTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Intangible fixed assets
Website costs
£
Cost
At 1 April 2023 and 31 March 2024
9,040
Amortisation and impairment
At 1 April 2023
-
0
Amortisation charged for the year
5,424
At 31 March 2024
5,424
Carrying amount
At 31 March 2024
3,616
At 31 March 2023
9,040
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
68,550
151,696
220,246
Additions
-
0
26,860
26,860
Disposals
(68,550)
(54,876)
(123,426)
At 31 March 2024
-
0
123,680
123,680
Depreciation and impairment
At 1 April 2023
-
0
95,688
95,688
Depreciation charged in the year
-
0
7,591
7,591
Eliminated in respect of disposals
-
0
(36,869)
(36,869)
At 31 March 2024
-
0
66,410
66,410
Carrying amount
At 31 March 2024
-
0
57,270
57,270
At 31 March 2023
68,550
56,008
124,558
ROBOLIGHTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
69,268
70,169
Other debtors
175,636
435
244,904
70,604
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
229,712
73,408
Taxation and social security
237,206
98,009
Other creditors
1,603,344
7,766
2,070,262
179,183

Included in Other creditors is a balance of £2,490 (2023: £0) representing the current portion of finance which is secured by fixed and floating charges on the assets of the company.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
9,129
-
0

Included in Other creditors is a balance of £9,129 (2023: £0) representing the non-current portion of finance which is secured by fixed and floating charges on the assets of the company.

8
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Two directors
2.25
(2)
159,062
1,656
160,716
(2)
159,062
1,656
160,716

Advances made to the directors are unsecured and repayable on demand.

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