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REGISTERED NUMBER: 03922706 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024

FOR

QUICKLIGHT LIMITED

QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUICKLIGHT LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024







DIRECTORS: B Cole
A Cole
A Galbraith
R McCabe
R Moss
J Moss





SECRETARY: M C Young





REGISTERED OFFICE: Foundation Court
Oare
Hermitage
RG18 9SE





REGISTERED NUMBER: 03922706 (England and Wales)





ACCOUNTANTS: Cooper Parry Advisory Limited
First Floor, Davidson House
Forbury Square
Reading
Berkshire
RG1 3EU

QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Intangible assets 4 63,443 67,179
Tangible assets 5 82,730 107,584
Investments 6 86,723 86,723
232,896 261,486

CURRENT ASSETS
Stocks 719,177 661,382
Debtors 7 2,149,890 2,704,287
Cash at bank and in hand 95 93
2,869,162 3,365,762
CREDITORS
Amounts falling due within one year 8 2,335,841 2,525,709
NET CURRENT ASSETS 533,321 840,053
TOTAL ASSETS LESS CURRENT
LIABILITIES

766,217

1,101,539

CREDITORS
Amounts falling due after more than one
year

9

(210,402

)

(441,244

)

PROVISIONS FOR LIABILITIES (17,498 ) (28,613 )
NET ASSETS 538,317 631,682

CAPITAL AND RESERVES
Called up share capital 12 800 800
Retained earnings 537,517 630,882
SHAREHOLDERS' FUNDS 538,317 631,682

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

BALANCE SHEET - continued
31 JULY 2024


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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:





R McCabe - Director


QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024


1. STATUTORY INFORMATION

Quicklight Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The financial statements are for a period of 13 months, therefore the comparative numbers which are for a 12 month period are not directly comparable.

QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024


2. ACCOUNTING POLICIES - continued

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 any discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of properties is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the properties sold;
- the amount of revenue can be measured reliably;
- it tis probable that the Company will receive the consideration due under the transaction, and;
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Grants received
Grants received are accounted for under the accruals model and are recognised in the profit and loss account in the period to which they relate.

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.

Development costs are recognised as an intangible asset once the relevant criteria has been met.

Development costs will be amortised evenly over their estimated useful life of 4 years.

QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024


2. ACCOUNTING POLICIES - continued

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 reducing balance method.

Depreciation is provided on the following basis:

Plant and machinery - 4 to 5 years
Motor Vehicles - 4 years

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 the Statement of Comprehensive Income.

Valuation of Investments
Investments in subsidiaries are measured at cost less accumulated impairment.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtor and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable with one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at a market rate, the financial asset or liability measured, initially, at the the present value of the future cash-flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial assets has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an appropriate of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024


2. ACCOUNTING POLICIES - continued
Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or 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 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.
- Any deferred tax balances are reversed if and when all condition 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.

Finance costs
Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount, issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Borrowing costs
All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension 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 the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as liability in the Balance Sheet. The assets of the plan are held separately from the Company in Independently administered funds.

QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 96 (2023 - 80 ) .

QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 July 2023 89,285
Additions 29,950
At 31 July 2024 119,235
AMORTISATION
At 1 July 2023 22,106
Charge for period 33,686
At 31 July 2024 55,792
NET BOOK VALUE
At 31 July 2024 63,443
At 30 June 2023 67,179

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 July 2023 663,867 120,215 784,082
Additions 7,277 - 7,277
Disposals - (16,625 ) (16,625 )
At 31 July 2024 671,144 103,590 774,734
DEPRECIATION
At 1 July 2023 595,549 80,949 676,498
Charge for period 19,397 9,837 29,234
Eliminated on disposal - (13,728 ) (13,728 )
At 31 July 2024 614,946 77,058 692,004
NET BOOK VALUE
At 31 July 2024 56,198 26,532 82,730
At 30 June 2023 68,318 39,266 107,584

QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024


5. TANGIBLE FIXED ASSETS - continued

The net book value of assets held under finance leases or hire purchase contracts is as follows:

20242023
££

Plant and Machinery 7,0089,611
Motor Vehicles21,88430,012
28,89239,623

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 July 2023
and 31 July 2024 86,723
NET BOOK VALUE
At 31 July 2024 86,723
At 30 June 2023 86,723

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,260,734 1,315,416
Other debtors 889,156 1,388,871
2,149,890 2,704,287

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 1,259,496 1,508,447
Hire purchase contracts (see note 10) 13,114 35,750
Trade creditors 333,172 582,707
Amounts owed to group undertakings 84,223 84,223
Taxation and social security 337,673 233,205
Other creditors 308,163 81,377
2,335,841 2,525,709

QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 183,333 400,000
Hire purchase contracts (see note 10) 27,069 41,244
210,402 441,244

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 13,114 35,750
Between one and five years 27,069 41,244
40,183 76,994

Non-cancellable
operating leases
2024 2023
£ £
Within one year 321,067 230,143
Between one and five years 272,522 371,969
In more than five years - 12,017
593,589 614,129

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank overdrafts 1,059,496 1,270,935
Bank loans 383,333 637,512
Hire purchase contracts 40,183 76,994
1,483,012 1,985,441

Bank loans and overdrafts are secured via a fixed and floating charge over the assets of the company.

Hire purchase amounts due are secured against the assets to which they relate.

QUICKLIGHT LIMITED (REGISTERED NUMBER: 03922706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 JULY 2024


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number Class Nominal value 2024 2023
£    £   
628 Ordinary A shares £1 628 628
60 Ordinary C shares £1 60 60
80 Ordinary E shares £1 80 80
16 Ordinary F shares £1 16 16
16 Ordinary G shares £1 16 16
800 800

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company has provided loans to certain directors in the current and prior years, with the balances owing at the beginning and end of the year being £980,718 and £482,524 respectively.

The loans have been made on an interest free basis, with either no fixed terms, or terms such that they will be repaid from the proceeds of dividends payable in the future, on the basis that those directors are also shareholders.

Certain directors have provided personal guarantees each to a limit of £300,000 in respect of the Company's borrowings.