Light & Energy Distribution Limited SC573233 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is the sale of street lighting supplies. Digita Accounts Production Advanced 6.30.9574.0 true true true SC573233 2023-07-01 2024-06-30 SC573233 2024-06-30 SC573233 bus:OrdinaryShareClass1 2024-06-30 SC573233 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC573233 core:RevaluationReserve 2024-06-30 SC573233 core:ShareCapital 2024-06-30 SC573233 core:CurrentFinancialInstruments 2024-06-30 SC573233 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 SC573233 core:FurnitureFittingsToolsEquipment 2024-06-30 SC573233 core:LandBuildings 2024-06-30 SC573233 core:MotorVehicles 2024-06-30 SC573233 bus:SmallEntities 2023-07-01 2024-06-30 SC573233 bus:Audited 2023-07-01 2024-06-30 SC573233 bus:FilletedAccounts 2023-07-01 2024-06-30 SC573233 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC573233 bus:RegisteredOffice 2023-07-01 2024-06-30 SC573233 bus:Director1 2023-07-01 2024-06-30 SC573233 bus:Director3 2023-07-01 2024-06-30 SC573233 bus:Director4 2023-07-01 2024-06-30 SC573233 bus:Director5 2023-07-01 2024-06-30 SC573233 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC573233 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC573233 bus:Agent1 2023-07-01 2024-06-30 SC573233 core:ComputerEquipment 2023-07-01 2024-06-30 SC573233 core:FurnitureFittings 2023-07-01 2024-06-30 SC573233 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 SC573233 core:LandBuildings 2023-07-01 2024-06-30 SC573233 core:LeaseholdImprovements 2023-07-01 2024-06-30 SC573233 core:MotorVehicles 2023-07-01 2024-06-30 SC573233 core:PlantMachinery 2023-07-01 2024-06-30 SC573233 1 2023-07-01 2024-06-30 SC573233 countries:Scotland 2023-07-01 2024-06-30 SC573233 2023-06-30 SC573233 core:FurnitureFittingsToolsEquipment 2023-06-30 SC573233 core:LandBuildings 2023-06-30 SC573233 core:MotorVehicles 2023-06-30 SC573233 2022-07-01 2023-06-30 SC573233 2023-06-30 SC573233 bus:OrdinaryShareClass1 2023-06-30 SC573233 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC573233 core:RevaluationReserve 2023-06-30 SC573233 core:ShareCapital 2023-06-30 SC573233 core:CurrentFinancialInstruments 2023-06-30 SC573233 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 SC573233 core:FurnitureFittingsToolsEquipment 2023-06-30 SC573233 core:LandBuildings 2023-06-30 SC573233 core:MotorVehicles 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC573233

Light & Energy Distribution Limited

Filleted Financial Statements

for the Year Ended 30 June 2024

 

Light & Energy Distribution Limited

Contents

Company Information

1

Statement of Directors' Responsibilities

2

Balance Sheet

3

Notes to the Financial Statements

4 to 10

 

Light & Energy Distribution Limited

Company Information

Directors

Mr Roger David Habberfield

Ms Lisa Craig Whyte

Mr Kevin Ferguson Thomson

Mr Barry John Morrison

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
Stirlingshire
FK3 8WX

Accountants

EQ Accountants Ltd Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

Auditors

Sumer Auditco Limited Pentland House
Saltire Centre
Glenrothes
KY6 2AH

 

Light & Energy Distribution Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Light & Energy Distribution Limited

(Registration number: SC573233)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

566,552

372,183

Current assets

 

Stocks

627,354

934,703

Debtors

5

2,846,401

2,605,065

Cash at bank and in hand

 

67,845

466,072

 

3,541,600

4,005,840

Creditors: Amounts falling due within one year

6

(1,606,142)

(1,916,763)

Net current assets

 

1,935,458

2,089,077

Total assets less current liabilities

 

2,502,010

2,461,260

Provisions for liabilities

(61,399)

(9,732)

Net assets

 

2,440,611

2,451,528

Capital and reserves

 

Called up share capital

8

1,000

1,000

Revaluation reserve

141,778

-

Retained earnings

2,297,833

2,450,528

Shareholders' funds

 

2,440,611

2,451,528

These financial statements have been prepared and 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 Board on 13 March 2025 and signed on its behalf by:
 

.........................................
Mr Roger David Habberfield
Director

 

Light & Energy Distribution Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

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

The principal place of business is:
22-22 Abbotsinch Road
Grangemouth
FK3 9UX

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

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.

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 13 March 2025 was Mr Greg Stapley, who signed for and on behalf of Sumer Auditco Limited.

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

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.

Foreign currency transactions and balances

In preparing the Financial Statements, transactions in currencies other than the entity’s functional currency (GBP) are recognised at the rates of exchange prevailing on the dates of the transactions. At each reporting date, monetary assets and liabilities in foreign currencies are retranslated at the rates prevailing at the year end.

 

Light & Energy Distribution Limited

Notes to the Financial Statements for the Year Ended 30 June 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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.

Revaluation Policy:

Individual freehold and leasehold properties are carried at current year value at fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.

Fair values are determined from market-based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit and loss.

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:

 

Light & Energy Distribution Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Asset class

Depreciation method and rate

Long leasehold

1% on cost

Fixtures and fittings

20% on cost

Motor vehicles

25% on reducing balance

Office equipment

33% on cost

Plant and machinery

25% on reducing balance

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.

 

Light & Energy Distribution Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
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.

 

 

Light & Energy Distribution Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

3

Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 12).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

389,495

183,192

40,023

612,710

Revaluations

120,505

-

-

120,505

Additions

-

28,553

-

28,553

Disposals

-

(15,000)

-

(15,000)

At 30 June 2024

510,000

196,745

40,023

746,768

Depreciation

At 1 July 2023

68,534

147,077

24,916

240,527

Charge for the year

-

19,446

3,777

23,223

Eliminated on disposal

-

(15,000)

-

(15,000)

On revaluation

(68,534)

-

-

(68,534)

At 30 June 2024

-

151,523

28,693

180,216

Carrying amount

At 30 June 2024

510,000

45,222

11,330

566,552

At 30 June 2023

320,961

36,115

15,107

372,183

Included within the net book value of land and buildings above is £510,000 (2023 - £320,961) in respect of long leasehold land and buildings.
 

Revaluation

The fair value of the company's land and buildings was revalued on 30 June 2024 by an independent valuer. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £317,066 (2023 - £320,961).

 

Light & Energy Distribution Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,314,117

1,117,309

Amounts owed by related parties

1,521,753

1,477,982

Prepayments

10,531

9,774

 

2,846,401

2,605,065

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

545,312

911,778

Trade creditors

 

937,832

834,838

Taxation and social security

 

99,226

147,031

Other creditors

 

23,772

23,116

 

1,606,142

1,916,763

The banking facilities are secured by a bond and floating charge on all assets of the company.

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

545,312

911,778

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

1,000

1,000

       
 

Light & Energy Distribution Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

9

Related party transactions

The company has taken advantage of the exemption within FRS 102 1A from disclosing transactions with other companies that are wholly owned by the group headed by Street Lighting Supplies & Co Ltd.

10

Parent and ultimate parent undertaking

The company is a wholly owned subsidiary of Street Lighting Supplies & Co Ltd, a company registered in Scotland. The registered office address and principal place of business is 20-22 Abbotsinch Road, Grangemouth, Stirlingshire, FK3 9UX. Consolidated group accounts for Street Lighting Supplies & Co Ltd are available from Companies House.



11 Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 13 March 2025 by Greg Stapley (Senior Statutory Auditor) on behalf of Auditco Limited.