REGISTERED NUMBER: |
Lightowler Limited |
Unaudited Financial Statements |
for the Period 1st December 2023 to 31st August 2024 |
REGISTERED NUMBER: |
Lightowler Limited |
Unaudited Financial Statements |
for the Period 1st December 2023 to 31st August 2024 |
Lightowler Limited (Registered number: 00413143) |
Contents of the Financial Statements |
for the period 1st December 2023 to 31st August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Lightowler Limited |
Company Information |
for the period 1st December 2023 to 31st August 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Regent's Court |
Princess Street |
Hull |
East Yorkshire HU2 8BA |
Lightowler Limited (Registered number: 00413143) |
Balance Sheet |
31st August 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Lightowler Limited (Registered number: 00413143) |
Balance Sheet - continued |
31st August 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Lightowler Limited (Registered number: 00413143) |
Notes to the Financial Statements |
for the period 1st December 2023 to 31st August 2024 |
1. | STATUTORY INFORMATION |
Lightowler Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is the amount, excluding value added tax, receivable in the ordinary course of business for goods supplied as a principal and for services provided. In the case of long term contracts turnover is calculated on the basis of the value of work executed during the year. |
Goodwill |
Goodwill is written off evenly over its estimated economic life of 19 years and is stated in the balance sheet at cost less amounts written off. No amortisation is charged in the year of acquisition. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery - between 2 and 10 years |
Motor vehicles - between 4 and 5 years |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the period 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 period 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. |
Lightowler Limited (Registered number: 00413143) |
Notes to the Financial Statements - continued |
for the period 1st December 2023 to 31st August 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company, along with other companies formed on the reorganisation of Lightowler Limited, operates a defined contribution scheme for its directors and senior management which is separately administered. The pension cost charge represents contributions payable by the company to the scheme. |
Government grants |
Government grants in respect of capital expenditure are credited to the profit and loss account over the estimated lives of the relevant fixed assets. The amount shown in the balance sheet as deferred government grants represents the total grants receivable to date less the amounts so far released to profit and loss account. |
Grants of a revenue nature which are made to give immediate financial support or to reimburse costs previously incurred are credited to profit and loss account in the period in which they become receivable. |
Grants of a revenue nature which are made to finance general activities over a specified period or to compensate for a loss of current or future income are credited to profit and loss account in the period in which they are paid. |
Stocks |
Stock and work in progress is stated at the lower of cost and net realisable value. Cost represents that expenditure which has been incurred in the normal course of business in bringing the product or service to its present location and condition. |
In the case of work in progress cost consists of direct materials, direct labour and attributable overheads based on normal levels of activity. |
Net realisable value means estimated selling price less all further costs to completion and all costs to be incurred in marketing, selling and distribution. |
Contract work in progress included in debtors is stated at net realisable value. Cumulative turnover (i.e. the total turnover recorded in respect of the contract in the profit and loss account since inception of the contract) is compared with invoices raised. If turnover exceeds invoices raised an "amount recoverable on contracts" is established and separately disclosed within debtors. If invoices are greater than turnover to date, the excess is classified within creditors. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Lightowler Limited (Registered number: 00413143) |
Notes to the Financial Statements - continued |
for the period 1st December 2023 to 31st August 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st December 2023 |
and 31st August 2024 |
AMORTISATION |
At 1st December 2023 |
Charge for period |
At 31st August 2024 |
NET BOOK VALUE |
At 31st August 2024 |
At 30th November 2023 |
5. | TANGIBLE FIXED ASSETS |
Leasehold | Plant and | Motor | Computer |
improvements | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st December 2023 |
Additions |
At 31st August 2024 |
DEPRECIATION |
At 1st December 2023 |
Charge for period |
At 31st August 2024 |
NET BOOK VALUE |
At 31st August 2024 |
At 30th November 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st December 2023 |
and 31st August 2024 |
NET BOOK VALUE |
At 31st August 2024 |
At 30th November 2023 |
Lightowler Limited (Registered number: 00413143) |
Notes to the Financial Statements - continued |
for the period 1st December 2023 to 31st August 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts recoverable on contract |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 10) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 10) |
Other creditors |
10. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase | contracts |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Lightowler Limited (Registered number: 00413143) |
Notes to the Financial Statements - continued |
for the period 1st December 2023 to 31st August 2024 |
10. | LEASING AGREEMENTS - continued |
Non-cancellable | operating leases |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans | 143,150 | 130,000 |
The bank loan is secured by a fixed and floating charge over the assets of the company. |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
'A' ordinary shares | £1 | 40 | 40 |
'B' ordinary shares | £1 | 179,960 | 179,960 |
180,000 | 180,000 |
13. | PENSION COMMITMENTS |
The company offers a defined contribution scheme. This pension cost charge represents contributions payable by the company and amounted to £53,401 (2023: £57,026). Pensions contributions of £5,857 (2023 £1,995) were outstanding at the year end. |
14. | RELATED PARTY DISCLOSURES |
At 31 August 2024 the company owed £9,965 to Lightowler Painting Limited, a subsidiary company (30th November 2023: £9,965). |
At 31 August 2024 the company was owed £383,689 (30th November 2023: £410,395) by Lightowler Holdings Limited, the company's parent company. |
15. | ULTIMATE CONTROLLING PARTY |
The company was controlled by Mr P Dorsett by virtue of his majority holding of the issued share capital of Lightowler Holdings Limited the company's parent company. |