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REGISTERED NUMBER: 02615882 (England and Wales)


























REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

COMMERCIAL LIGHTING SYSTEMS LTD.

COMMERCIAL LIGHTING SYSTEMS LTD. (REGISTERED NUMBER: 02615882)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Statement of Changes in Equity 6

Notes to the Financial Statements 7


COMMERCIAL LIGHTING SYSTEMS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: Mr P Cutting
Mr D D Falstein
Mr H Lawrence
Mr G C A Madgwick





SECRETARY: Mr D D Falstein





REGISTERED OFFICE: Unit 17 Chandlers Way
Park Gate Business Centre
Swanwick
Hampshire
Hampshire
SO31 1FQ





REGISTERED NUMBER: 02615882 (England and Wales)






COMMERCIAL LIGHTING SYSTEMS LTD. (REGISTERED NUMBER: 02615882)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2024


The directors present their report with the financial statements of the company for the year ended 31st December 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2024 to the date of this report.

Mr P Cutting
Mr D D Falstein
Mr H Lawrence
Mr G C A Madgwick

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr D D Falstein - Secretary


19th March 2025

COMMERCIAL LIGHTING SYSTEMS LTD. (REGISTERED NUMBER: 02615882)

INCOME STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2024

2024 2023
Notes £    £   

TURNOVER 2,428,431 2,089,307

Cost of sales 1,419,867 1,217,329
GROSS PROFIT 1,008,564 871,978

Administrative expenses 949,221 805,450
59,343 66,528

Other operating income 1,898 2,870
OPERATING PROFIT 61,241 69,398

Interest receivable and similar income 8,205 15,357
69,446 84,755

Interest payable and similar expenses 986 1,652
PROFIT BEFORE TAXATION 68,460 83,103

Tax on profit 4 18,570 24,479
PROFIT FOR THE FINANCIAL YEAR 49,890 58,624

COMMERCIAL LIGHTING SYSTEMS LTD. (REGISTERED NUMBER: 02615882)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 172,073 154,611
172,073 154,611

CURRENT ASSETS
Stocks 405,886 439,460
Debtors 7 177,187 226,715
Cash at bank and in hand 449,644 301,180
1,032,717 967,355
CREDITORS
Amounts falling due within one year 8 314,133 249,325
NET CURRENT ASSETS 718,584 718,030
TOTAL ASSETS LESS CURRENT
LIABILITIES

890,657

872,641

CREDITORS
Amounts falling due after more than one
year

9

-

(9,704

)

PROVISIONS FOR LIABILITIES (21,663 ) (25,833 )
NET ASSETS 868,994 837,104

CAPITAL AND RESERVES
Called up share capital 10 33,003 33,003
Share premium 60,340 60,340
Capital redemption reserve 141,134 141,134
Retained earnings 634,517 602,627
SHAREHOLDERS' FUNDS 868,994 837,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

COMMERCIAL LIGHTING SYSTEMS LTD. (REGISTERED NUMBER: 02615882)

BALANCE SHEET - continued
31ST DECEMBER 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 19th March 2025 and were signed on its behalf by:





Mr P Cutting - Director


COMMERCIAL LIGHTING SYSTEMS LTD. (REGISTERED NUMBER: 02615882)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST DECEMBER 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1st January 2023 38,501 791,425 201,474 - 1,031,400

Changes in equity
Purchase of own shares (5,498 ) (214,422 ) (141,134 ) 141,134 (219,920 )
Dividends - (33,000 ) - - (33,000 )
Total comprehensive income - 58,624 - - 58,624
Balance at 31st December 2023 33,003 602,627 60,340 141,134 837,104

Changes in equity
Dividends - (18,000 ) - - (18,000 )
Total comprehensive income - 49,890 - - 49,890
Balance at 31st December 2024 33,003 634,517 60,340 141,134 868,994

COMMERCIAL LIGHTING SYSTEMS LTD. (REGISTERED NUMBER: 02615882)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Commercial Lighting Systems Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% straight line and 4% straight line
Fixtures and fittings - 33.33% straight line and 20% straight line
Motor vehicles - 25% straight line

All fixed assets are initially recorded at cost.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment, Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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


COMMERCIAL LIGHTING SYSTEMS LTD. (REGISTERED NUMBER: 02615882)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 19 ) .

4. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 22,740 18,128

Deferred tax (4,170 ) 6,351
Tax on profit 18,570 24,479

COMMERCIAL LIGHTING SYSTEMS LTD. (REGISTERED NUMBER: 02615882)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 5,000
At 31st December 2024 5,000
AMORTISATION
Amortisation for year 5,000
At 31st December 2024 5,000
NET BOOK VALUE
At 31st December 2024 -

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st January 2024 326,502 238,463 261,733 826,698
Additions 225 6,195 66,878 73,298
Disposals - - (66,150 ) (66,150 )
At 31st December 2024 326,727 244,658 262,461 833,846
DEPRECIATION
At 1st January 2024 279,126 236,004 156,957 672,087
Charge for year 11,308 1,915 42,613 55,836
Eliminated on disposal - - (66,150 ) (66,150 )
At 31st December 2024 290,434 237,919 133,420 661,773
NET BOOK VALUE
At 31st December 2024 36,293 6,739 129,041 172,073
At 31st December 2023 47,376 2,459 104,776 154,611

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 120,112 156,982
Other debtors 57,075 69,733
177,187 226,715

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 9,704 10,996
Payments on account 34,398 35,541
Trade creditors 117,371 60,945
Taxation and social security 114,789 81,896
Other creditors 37,871 59,947
314,133 249,325

COMMERCIAL LIGHTING SYSTEMS LTD. (REGISTERED NUMBER: 02615882)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 9,704

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
33,000 Ordinary £1 33,000 33,000
3 Ordinary B £1 3 3
33,003 33,003

On 25 August 2023 the company purchased and cancelled 5,498 Ordinary shares held by external shareholders for a total sum of £219,920.

11. OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £407,800 (2023: £75,600).

This amount is in relation to operating lease commitments which are payable over the next 5 years (2023: over 1 year).