REGISTERED NUMBER: 02868064 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Maxilux Lighting Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R P Cockayne

J S Cothill

A P Harris

S W Phillips

REGISTERED OFFICE:

Euston House

12 Euston Place

Leamington Spa

Warwickshire

CV32 4BN

REGISTERED NUMBER:

02868064 (England and Wales)

ACCOUNTANTS:

Leigh Christou Ltd

Chartered Certified Accountants

Leofric House

Binley Road

Coventry

CV3 1JN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

39,688

34,774

39,688

34,774

CURRENT ASSETS

Stocks

537,584

872,595

Debtors

6

425,752

640,718

Cash at bank and in hand

420,775

1,466,928

1,384,111

2,980,241

CREDITORS

Amounts falling due within one year

7

352,735

405,339

NET CURRENT ASSETS

1,031,376

2,574,902

TOTAL ASSETS LESS CURRENT LIABILITIES

1,071,064

2,609,676

PROVISIONS FOR LIABILITIES

1,784

-

NET ASSETS

1,069,280

2,609,676

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,069,180

2,609,576

1,069,280

2,609,676

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 17 March 2025 and were signed on its behalf by:

S W Phillips - Director

A P Harris - Director

1.	STATUTORY INFORMATION

Maxilux Lighting 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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

-

25% on reducing balance

Fixtures and fittings

-

Straight line over 4 years

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2023

and 31 July 2024

9,450

AMORTISATION

At 1 August 2023

and 31 July 2024

9,450

NET BOOK VALUE

At 31 July 2024

-

At 31 July 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2023

12,996

2,305

51,136

6,425

72,862

Additions

13,650

1,798

-

1,665

17,113

At 31 July 2024

26,646

4,103

51,136

8,090

89,975

DEPRECIATION

At 1 August 2023

9,994

827

22,372

4,895

38,088

Charge for year

3,168

479

7,191

1,361

12,199

At 31 July 2024

13,162

1,306

29,563

6,256

50,287

NET BOOK VALUE

At 31 July 2024

13,484

2,797

21,573

1,834

39,688

At 31 July 2023

3,002

1,478

28,764

1,530

34,774

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Trade debtors

141,063

133,695

Other debtors

284,689

507,023

425,752

640,718

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Trade creditors

55,353

91,749

Taxation and social security

290,943

179,222

Other creditors

6,439

134,368

352,735

405,339

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24

31.7.23

£

£

R P Cockayne

Balance outstanding at start of year

654

-

Amounts advanced

1,912

654

Amounts repaid

(2,621

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(55

)

654

Included within other creditors is the above amount due to the director from the company. This amount is interest free and has no set terms of repayment.

9.	RELATED PARTY DISCLOSURES

The company pays rent to the Trustees of Shire Executive Retirement Benefit Scheme, which the directors are trustees. During the year £33,000 (2023: £33,000) was paid in respect to such transactions, and no amounts were outstanding at the balance sheet date.

In addition, the company also made advances to the pension scheme in respect of expenses incurred with regards to the property owned by the pension scheme amounting to £Nil (2023: £249,65). At the balance sheet date £18,763 are included within debtors due back from the pension scheme.

In the prior year the company made an interest free loan to Halfpipe Properties Limited a company with common control. At the balance sheet date £250,000 was due to the company in respect of this transaction (2023: £250,000).

In the prior year the company received an interest free loan from Maxilux Systems Limited a company in which Mr R Cockayne owned 50% of the ordinary share capital. At the balance sheet date £Nil was due from the company in respect of this transaction (2023: £92,350).

10.	ULTIMATE CONTROLLING PARTY

During the year the immediate controlling party was the directors of the company by virtue of their 100% shareholding in the company. The ownership changed on 16 April 2024, when Maxilux Lighting EOT Trustees Limited, an employee ownership trust, acquired 70% of the share capital in the company.

Accordingly the trustees of the Maxilux Lighting Employee Ownership Trust now control the company by virtue of their shareholding.