Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-31232023-08-01falseelectrical installation25truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02630043 2023-08-01 2024-07-31 02630043 2022-08-01 2023-07-31 02630043 2024-07-31 02630043 2023-07-31 02630043 c:Director1 2023-08-01 2024-07-31 02630043 d:PlantMachinery 2023-08-01 2024-07-31 02630043 d:PlantMachinery 2024-07-31 02630043 d:PlantMachinery 2023-07-31 02630043 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02630043 d:MotorVehicles 2023-08-01 2024-07-31 02630043 d:MotorVehicles 2024-07-31 02630043 d:MotorVehicles 2023-07-31 02630043 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02630043 d:FurnitureFittings 2023-08-01 2024-07-31 02630043 d:FurnitureFittings 2024-07-31 02630043 d:FurnitureFittings 2023-07-31 02630043 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02630043 d:OfficeEquipment 2023-08-01 2024-07-31 02630043 d:OfficeEquipment 2024-07-31 02630043 d:OfficeEquipment 2023-07-31 02630043 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02630043 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02630043 d:CurrentFinancialInstruments 2024-07-31 02630043 d:CurrentFinancialInstruments 2023-07-31 02630043 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 02630043 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 02630043 d:ShareCapital 2024-07-31 02630043 d:ShareCapital 2023-07-31 02630043 d:SharePremium 2024-07-31 02630043 d:SharePremium 2023-07-31 02630043 d:RetainedEarningsAccumulatedLosses 2024-07-31 02630043 d:RetainedEarningsAccumulatedLosses 2023-07-31 02630043 c:FRS102 2023-08-01 2024-07-31 02630043 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 02630043 c:FullAccounts 2023-08-01 2024-07-31 02630043 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 02630043 2 2023-08-01 2024-07-31 02630043 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 02630043









LIGHTSIDE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
LIGHTSIDE LIMITED
REGISTERED NUMBER: 02630043

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,278
23,172

Current assets
  

Debtors: amounts falling due within one year
 5 
1,280,902
1,587,817

Cash at bank and in hand
 6 
1,138,347
1,619,742

  
2,419,249
3,207,559

Creditors: amounts falling due within one year
 7 
(405,155)
(631,479)

Net current assets
  
 
 
2,014,094
 
 
2,576,080

Total assets less current liabilities
  
2,030,372
2,599,252

  

Net assets
  
2,030,372
2,599,252


Capital and reserves
  

Called up share capital 
  
52
52

Share premium account
  
19,950
19,950

Profit and loss account
  
2,010,370
2,579,250

  
2,030,372
2,599,252


Page 1

 
LIGHTSIDE LIMITED
REGISTERED NUMBER: 02630043
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J L Skibicki
Director

Date: 28 April 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
LIGHTSIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Lightside Limited ("the Company") is a private company limited by shares and is incorporated in England and Wales. The company's principal activity is electrical installation. Its registered office is 30 Oxford Road, Finsbury Park, London, N4 3EY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings, cash and cash equivalents and all other foreign exchange gains and losses are presented in the statement of income and retained earnings within 'Administrative expenses'.

Page 3

 
LIGHTSIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
LIGHTSIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Plant and machinery
-
33%
on cost
Motor vehicles
-
33%
on cost
Fixtures and fittings
-
33%
on cost
Office equipment
-
33%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

Page 5

 
LIGHTSIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.11

Creditors

Short-term creditors are measured at the transaction price.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 23 (2023 - 25).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2023
6,478
144,032
51,580
31,179
233,269


Additions
-
-
-
2,204
2,204



At 31 July 2024

6,478
144,032
51,580
33,383
235,473



Depreciation


At 1 August 2023
6,478
144,032
30,026
29,561
210,097


Charge for the year on owned assets
-
-
7,867
1,231
9,098



At 31 July 2024

6,478
144,032
37,893
30,792
219,195



Net book value



At 31 July 2024
-
-
13,687
2,591
16,278



At 31 July 2023
-
-
21,554
1,618
23,172

Page 6

 
LIGHTSIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
431,655
112,425

Amounts owed by group undertakings
638,439
1,275,812

Other debtors
145,995
146,975

Prepayments and accrued income
64,813
52,605

1,280,902
1,587,817



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,138,347
1,619,742



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
171,277
225,527

Corporation tax
99,129
232,893

Other taxation and social security
126,765
164,717

Other creditors
3,984
4,342

Accruals and deferred income
4,000
4,000

405,155
631,479



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £20,119 (2023 - £23,750). Contributions totalling £3,984 (2023 - £4,322)  were payable to the fund at the balance sheet date and are included in the creditors.


9.


Related party transactions

At the year end, the company was owed £638,439 (2023 - £1,275,812) by its parent.

Page 7

 
LIGHTSIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Controlling party

Lightside Holdings Limited is the ultimate controlling party.

 
Page 8