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REGISTERED NUMBER: 02348038 (England and Wales)











Unaudited Financial Statements for the Year Ended 30th April 2024

for

Underwater Lights Limited

Underwater Lights Limited (Registered number: 02348038)






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


Underwater Lights Limited

Company Information
for the Year Ended 30th April 2024







DIRECTORS: P J Urquhart
Ms R K Urquhart





REGISTERED OFFICE: Great Dunton Forge
London Road
Dunton Green
Kent
TN13 2TD





REGISTERED NUMBER: 02348038 (England and Wales)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Underwater Lights Limited (Registered number: 02348038)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,066,298 995,654
1,066,298 995,654

CURRENT ASSETS
Stocks 80,000 80,000
Debtors 6 722,265 450,135
Cash at bank and in hand 1,372,438 1,504,320
2,174,703 2,034,455
CREDITORS
Amounts falling due within one year 7 255,136 318,187
NET CURRENT ASSETS 1,919,567 1,716,268
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,985,865

2,711,922

PROVISIONS FOR LIABILITIES 27,313 43,184
NET ASSETS 2,958,552 2,668,738

CAPITAL AND RESERVES
Called up share capital 8 400 400
Retained earnings 2,958,152 2,668,338
SHAREHOLDERS' FUNDS 2,958,552 2,668,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th January 2025 and were signed on its behalf by:



P J Urquhart - Director


Underwater Lights Limited (Registered number: 02348038)

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

1. STATUTORY INFORMATION

Underwater Lights Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales from the sale of manufacture lighting products. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

The assets are reviewed for impairment if there are any factors that indicate the carrying amount may be impaired.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on cost
Plant and machinery etc - 20% on reducing balance and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

Foreign currencies
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.

Underwater Lights Limited (Registered number: 02348038)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
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 the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

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.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1st May 2023
and 30th April 2024 4,244
AMORTISATION
At 1st May 2023
and 30th April 2024 4,244
NET BOOK VALUE
At 30th April 2024 -
At 30th April 2023 -

Underwater Lights Limited (Registered number: 02348038)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st May 2023 1,064,848 439,538 30,472
Additions 144,376 6,149 -
At 30th April 2024 1,209,224 445,687 30,472
DEPRECIATION
At 1st May 2023 245,564 302,683 8,747
Charge for year 44,092 28,604 3,260
At 30th April 2024 289,656 331,287 12,007
NET BOOK VALUE
At 30th April 2024 919,568 114,400 18,465
At 30th April 2023 819,284 136,855 21,725

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st May 2023 13,000 69,429 1,617,287
Additions - - 150,525
At 30th April 2024 13,000 69,429 1,767,812
DEPRECIATION
At 1st May 2023 5,690 58,949 621,633
Charge for year 1,830 2,095 79,881
At 30th April 2024 7,520 61,044 701,514
NET BOOK VALUE
At 30th April 2024 5,480 8,385 1,066,298
At 30th April 2023 7,310 10,480 995,654

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 156,559 193,551
Other debtors 553,956 243,471
Prepayments 11,750 13,113
722,265 450,135

Underwater Lights Limited (Registered number: 02348038)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 38,334 265,780
Tax 131,019 17,228
Social security and other taxes 5,603 1,290
Directors' current accounts 1,633 26,764
Accruals and deferred income - 125
Accrued expenses 78,547 7,000
255,136 318,187

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid: 2023 2022
Number: Class: Nominal Value: £ £

100 A Class Ordinary £1 100 100
100 B Class Ordinary £1 100 100
100 C Class Ordinary £1 100 100
100 D Class Ordinary £1 100 100
400 400

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30th April 2024, the company owed Mr P J Urquhart £1,633 (2022 - £26,764) by way of an interest free Directors Current Account.

10. RELATED PARTY DISCLOSURES

The company was invoiced from Ultimate Creations Limited, a company of which PJ Urquhart is a director, for services, in the year for £170,035 (2023 - £275,793). The transactions were carried out under normal commercial terms.