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Registration number: 03550161

Dark Light Developments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 April 2024

 

Dark Light Developments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Dark Light Developments Ltd

Company Information

Director

Mr J C Haycraft

Company secretary

Ms B M Mee

Registered office and
business address

Hillsleigh Grange
Bourne Lane
Brimscombe
Stroud
Gloucester
GL5 2RQ

Accountants

Regulatory Accounting Ltd
T/A Optimum Professional Services
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

Dark Light Developments Ltd

(Registration number: 03550161)
Balance Sheet as at 29 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

314,888

351,933

Tangible assets

5

400

780

 

315,288

352,713

Current assets

 

Stocks

6

10,000

10,000

Debtors

7

2,795

4,081

Cash at bank and in hand

 

124

2,598

 

12,919

16,679

Creditors: Amounts falling due within one year

8

(153,858)

(167,398)

Net current liabilities

 

(140,939)

(150,719)

Total assets less current liabilities

 

174,349

201,994

Creditors: Amounts falling due after more than one year

8

(19,363)

(27,654)

Provisions for liabilities

(76)

(148)

Net assets

 

154,910

174,192

Capital and reserves

 

Called up share capital

5

5

Retained earnings

154,905

174,187

Shareholders' funds

 

154,910

174,192

 

Dark Light Developments Ltd

(Registration number: 03550161)
Balance Sheet as at 29 April 2024

For the financial year ending 29 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 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.

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.

 

Approved and authorised by the director on 26 January 2025
 

.........................................
Mr J C Haycraft
Director

 

Dark Light Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 April 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:
Hillsleigh Grange
Bourne Lane
Brimscombe
Stroud
Gloucester
GL5 2RQ
England

2

Accounting policies

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

The presentational currency of these financial statements in pound sterling and rounded to the nearest whole number.

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 on shipment of goods or provision of software services.

Foreign currency transactions and balances

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Research and development

Expenditure on research and development of existing items is written off, unless this relates to a specific product development.

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.

 

Dark Light Developments Ltd

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

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

Long leasehold

Straight line over the term of the lease

Workshop/toolstore

10 years straight line

Plant and machinery

20% straight line

Fixtures and fittings

20% straight line

Computer equipment

20% straight line

Amortisation

Development costs are capitalised in respect of products yet to be released, this will be amortised equally over an expected useful life of the product once sales start.

Asset class

Amortisation method and rate

Development costs

10% straight line

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 net realisable value, after making due allowance for obsolete and slow moving items.

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

 

Dark Light Developments Ltd

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

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.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Financial instruments

Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Dark Light Developments Ltd

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

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 30 April 2023

370,456

370,456

At 29 April 2024

370,456

370,456

Amortisation

At 30 April 2023

18,523

18,523

Amortisation charge

37,045

37,045

At 29 April 2024

55,568

55,568

Carrying amount

At 29 April 2024

314,888

314,888

At 29 April 2023

351,933

351,933

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Properties under construction
 £

Other tangible assets
£

Cost or valuation

At 30 April 2023

3,501

15,528

5,031

5,430

At 29 April 2024

3,501

15,528

5,031

5,430

Depreciation

At 30 April 2023

3,501

14,748

5,031

5,430

Charge for the year

-

380

-

-

At 29 April 2024

3,501

15,128

5,031

5,430

Carrying amount

At 29 April 2024

-

400

-

-

At 29 April 2023

-

780

-

-

 

Dark Light Developments Ltd

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

Total
£

Cost or valuation

At 30 April 2023

29,490

At 29 April 2024

29,490

Depreciation

At 30 April 2023

28,710

Charge for the year

380

At 29 April 2024

29,090

Carrying amount

At 29 April 2024

400

At 29 April 2023

780

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

6

Stocks

2024
£

2023
£

Other inventories

10,000

10,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

2,252

2,980

Prepayments

125

125

Other debtors

418

976

 

2,795

4,081

 

Dark Light Developments Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

19,465

19,422

Trade creditors

 

1,777

1,231

Taxation and social security

 

22,419

16,982

Accruals and deferred income

 

3,555

3,287

Other creditors

 

106,642

126,476

 

153,858

167,398

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £10,000 (2023 - £10,000).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

19,363

27,654

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £19,363 (2023 - £27,654).

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

19,363

27,654

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Bank overdrafts

6,965

6,922

Other borrowings

2,500

2,500

19,465

19,422

 

Dark Light Developments Ltd

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

10

Related party transactions

No interest has been charged on the loan due to the director and there are no set repayment terms.

Transactions with the director

2024

At 30 April 2023
£

Advances to director
£

Repayments by director
£

At 29 April 2024
£

Mr J C Haycraft

net deposits

91,658

(49,333)

40,952

83,276

2023

At 30 April 2022
£

Advances to director
£

Repayments by director
£

At 29 April 2023
£

Mr J C Haycraft

net deposits

59,556

(75,402)

107,504

91,658