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Registration number: 09454247

A&S Lighting Limited

trading as Kash-Discount-Homestore

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 13

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

Company Information

Director

Mr A Anwar

Registered office

T/A A.A Trading Co
2 Morton Street
Byker
Newcastle Upon Tyne
Tyne & Wear
NE6 2JH

Accountants

Barkess & Co
Chartered Accountants
Stockton Business Centre
70-74 Brunswick Street
Stockton on Tees
TS18 1DW

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
A&S Lighting Limited

trading as Kash-Discount-Homestore
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A&S Lighting Limited for the year ended 30 April 2024 as set out on pages 3 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of A&S Lighting Limited , as a body, in accordance with the terms of our engagement letter dated 24 March 2023. Our work has been undertaken solely to prepare for your approval the accounts of A&S Lighting Limited and state those matters that we have agreed to state to the Board of Directors of A&S Lighting Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A&S Lighting Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A&S Lighting Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A&S Lighting Limited . You consider that A&S Lighting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of A&S Lighting Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Barkess & Co
Chartered Accountants
Stockton Business Centre
70-74 Brunswick Street
Stockton on Tees
TS18 1DW

22 January 2025

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

(Registration number: 09454247)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

2,000

4,000

Tangible assets

5

2,240

4,482

 

4,240

8,482

Current assets

 

Stocks

6

252,387

249,587

Debtors

7

170,591

283,638

Cash at bank and in hand

 

300,802

283,547

 

723,780

816,772

Creditors: Amounts falling due within one year

8

(636,876)

(525,546)

Net current assets

 

86,904

291,226

Total assets less current liabilities

 

91,144

299,708

Creditors: Amounts falling due after more than one year

8

(10,000)

(20,000)

Provisions for liabilities

(560)

(1,121)

Net assets

 

80,584

278,587

Capital and reserves

 

Called up share capital

9

70

100

Retained earnings

80,514

278,487

Shareholders' funds

 

80,584

278,587

For the financial year ending 30 April 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.

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

(Registration number: 09454247)
Balance Sheet as at 30 April 2024

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 director on 22 January 2025
 

.........................................
Mr A Anwar
Director

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

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

1

General information

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

The address of its registered office is:
T/A A.A Trading Co
2 Morton Street
Byker
Newcastle Upon Tyne
Tyne & Wear
NE6 2JH
United Kingdom

These financial statements were authorised for issue by the director on 22 January 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

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

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.

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

Plant and machinery

20% straight line

Furniture, fittings, tools and equipment

20% straight line

Motor vehicles

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

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

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2023 - 12).

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

10,000

10,000

At 30 April 2024

10,000

10,000

Amortisation

At 1 May 2023

6,000

6,000

Amortisation charge

2,000

2,000

At 30 April 2024

8,000

8,000

Carrying amount

At 30 April 2024

2,000

2,000

At 30 April 2023

4,000

4,000

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

10,551

1

11,200

21,752

At 30 April 2024

10,551

1

11,200

21,752

Depreciation

At 1 May 2023

10,550

-

6,720

17,270

Charge for the year

1

1

2,240

2,242

At 30 April 2024

10,551

1

8,960

19,512

Carrying amount

At 30 April 2024

-

-

2,240

2,240

At 30 April 2023

1

1

4,480

4,482

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

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

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

252,387

249,587

7

Debtors

Current

2024
£

2023
£

Trade debtors

168,161

45,849

Prepayments

2,430

-

Other debtors

-

237,789

 

170,591

283,638

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

12,768

13,715

Trade creditors

 

486,715

469,819

Taxation and social security

 

133,949

39,244

Accruals and deferred income

 

3,080

2,670

Other creditors

 

364

98

 

636,876

525,546

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

10,000

20,000

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

70

70

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

20,000

Current loans and borrowings

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

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

2024
£

2023
£

Bank borrowings

12,768

13,259

Bank overdrafts

-

456

12,768

13,715

11

Dividends

2024

2023

£

£

Interim dividend of £1,400.00 (2023 - £1,250.00) per ordinary share

104,500

131,682

 

 

12

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Repayments by director
£

At 30 April 2024
£

Mr M Anwar

Director's current account

237,789

(239,133)

(1,344)

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr M Anwar

Director's current account

237,789

22,682

(22,682)

237,789

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,480

12,480

Dividends paid to the director

 

A&S Lighting Limited

trading as Kash-Discount-Homestore

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

2024
£

2023
£

Mr M Anwar

Interim dividend

-

26,336

 

 

Mr A Anwar

Interim dividends

28,000

2,000