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Registration number: 04782989

Lighting & Signs Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Lighting & Signs Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Lighting & Signs Limited

Company Information

Directors

Mrs J C Roe

Mr M Roe

Company secretary

Mr M Roe

Registered office

Central Works
Scott Street
Hull
East Yorkshire
HU2 8AP

 

Lighting & Signs Limited

(Registration number: 04782989)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

224,449

239,291

Current assets

 

Stocks

9,485

14,209

Debtors

5

355,065

256,125

Cash at bank and in hand

 

1,376,943

1,152,609

 

1,741,493

1,422,943

Creditors: Amounts falling due within one year

6

(956,830)

(709,923)

Net current assets

 

784,663

713,020

Total assets less current liabilities

 

1,009,112

952,311

Creditors: Amounts falling due after more than one year

6

(138,581)

(153,720)

Provisions for liabilities

(55,642)

(67,620)

Net assets

 

814,889

730,971

Capital and reserves

 

Called up share capital

7

500

500

Retained earnings

814,389

730,471

Shareholders' funds

 

814,889

730,971

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 Directors acknowledge their 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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

 

Lighting & Signs Limited

(Registration number: 04782989)
Balance Sheet as at 30 June 2024

.........................................
Mr M Roe
Company secretary and director

 

Lighting & Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Central Works
Scott Street
Hull
East Yorkshire
HU2 8AP

These financial statements were authorised for issue by the Board on 31 October 2024.

2

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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

The financial statements cover the individual entity, Lighting & Signs Limited.

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.

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

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.

 

Lighting & Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Motor vehicles

25% on reducing balance

Furniture, fixtures and equipment

33% & 15% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

 

Lighting & Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 18 (2023 - 19).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

22,580

23,830

350,763

397,173

Additions

-

-

59,750

59,750

Disposals

-

-

(23,300)

(23,300)

At 30 June 2024

22,580

23,830

387,213

433,623

Depreciation

At 1 July 2023

22,580

16,513

118,789

157,882

Charge for the year

-

1,429

70,140

71,569

Eliminated on disposal

-

-

(20,277)

(20,277)

At 30 June 2024

22,580

17,942

168,652

209,174

Carrying amount

At 30 June 2024

-

5,888

218,561

224,449

At 30 June 2023

-

7,317

231,974

239,291

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings.
 

 

Lighting & Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

353,120

253,168

Prepayments

1,945

2,957

 

355,065

256,125

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Hire purchase

55,770

49,779

Trade creditors

 

365,574

300,925

Taxation and social security

 

160,012

123,367

Other creditors

 

375,474

235,852

 

956,830

709,923

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Hire purchase

138,581

153,720


The hire purchase liability totalling £194,351 (2023 £203,498) within creditors has been secured against the assets of which the finance was secured to purchase.

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

500

500

500

500

         
 

Lighting & Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £31,626 (2023 - £18,000).