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COMPANY REGISTRATION NUMBER: 02805802
Exterior Lighting Services Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2024
Exterior Lighting Services Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Exterior Lighting Services Limited
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Exterior Lighting Services Limited
Year ended 30 April 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 April 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
CLAY SHAW THOMAS LTD
2 Oldfield Road Bocam Park Bridgend CF35 5LJ
30 January 2025
Exterior Lighting Services Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
41,406
72,320
Investments
6
80
80
--------
--------
41,486
72,400
Current assets
Stocks
500
500
Debtors
7
405,616
250,056
Investments
8
1,000
1,000
Cash at bank and in hand
297,302
403,872
---------
---------
704,418
655,428
Creditors: amounts falling due within one year
9
579,398
639,384
---------
---------
Net current assets
125,020
16,044
---------
--------
Total assets less current liabilities
166,506
88,444
Creditors: amounts falling due after more than one year
10
36,207
43,489
Provisions
Taxation including deferred tax
65
5,031
---------
--------
Net assets
130,234
39,924
---------
--------
Exterior Lighting Services Limited
Statement of Financial Position (continued)
30 April 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
130,232
39,922
---------
--------
Shareholders funds
130,234
39,924
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 January 2025 , and are signed on behalf of the board by:
Mr T Holt
Mr T Coates
Director
Director
Company registration number: 02805802
Exterior Lighting Services Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Oldfield Road, Bocam Park, Bridgend, Bridgend County Borough, CF35 5LJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Investments are included at cost less amounts written off. Profits or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax and relates to the company's principal activity which is that of the erection of street lighting.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Revenue recognition
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% straight line
Equipment
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme for the director. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the Profit and Loss Account.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 May 2023
184,137
1,280
185,417
Additions
12,495
579
13,074
Disposals
( 36,025)
( 36,025)
---------
-------
---------
At 30 April 2024
160,607
1,859
162,466
---------
-------
---------
Depreciation
At 1 May 2023
112,509
588
113,097
Charge for the year
37,288
246
37,534
Disposals
( 29,571)
( 29,571)
---------
-------
---------
At 30 April 2024
120,226
834
121,060
---------
-------
---------
Carrying amount
At 30 April 2024
40,381
1,025
41,406
---------
-------
---------
At 30 April 2023
71,628
692
72,320
---------
-------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 30 April 2024
38,226
--------
At 30 April 2023
62,450
--------
6. Investments
Shares in group
£
Cost
At 1 May 2023 and 30 April 2024
80
----
Impairment
At 1 May 2023 and 30 April 2024
----
Carrying amount
At 30 April 2024
80
----
At 30 April 2023
80
----
7. Debtors
2024
2023
£
£
Trade debtors
60,575
88,356
Amounts owed by group undertakings
296,731
118,588
Other debtors
48,310
43,112
---------
---------
405,616
250,056
---------
---------
8. Investments
2024
2023
£
£
Other investments
1,000
1,000
-------
-------
Investments are valued at cost value.
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
632
Trade creditors
167,090
114,514
Amounts owed to group undertakings
180,108
467,467
Social security and other taxes
204,899
22,824
Other creditors
27,301
33,947
---------
---------
579,398
639,384
---------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
36,207
43,489
--------
--------
The hire purchase balances are secured on assets to which they relate.
11. Directors' advances, credits and guarantees
Included in other debtors are the following amounts due from the directors:
Mr T Coates
£
Balance due to the company as at 1 May 2023
Monies introduced
Monies withdrawn 20,828
--------
Balance due to the company as at 30 April 2024 20,828
--------
There are no terms of repayment or interest being charged.
12. Related party transactions
Exterior Lighting Services Limited and Street Lighting Services Limited are 100% subsidiaries of Branzell Limited, and as such have taken advantage of the exemption stated in FRS 102 whereby disclosure need not be given of transactions entered into between two or more members of the same group, provided that any subsidiary which is party to the transaction is wholly owned by such member. Rent of £16,275 (2023:£13,875) was paid by Exterior Lighting Services Limited to Mr L Coates for a property at George Thomas Avenue, Brynmenyn Industrial Estate, Brynmenyn, Bridgend. Exterior Lighting Services Limited owns 80% of the shareholding in Exterior Jointing Services Limited. At the year end, Exterior Jointing Services Limited owed Exterior Lighting Services Limited an amount of £20,463 (2023: £15,112).