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REGISTERED NUMBER: 04118510 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Lite-Mart Limited

Lite-Mart Limited (Registered number: 04118510)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lite-Mart Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mrs G K Gandham
Mr G S Gandham





SECRETARY: Mrs G K Gandham





REGISTERED OFFICE: Rushall Hall
Leigh Road
Walsall
West Midlands
WS4 2DS





REGISTERED NUMBER: 04118510 (England and Wales)





ACCOUNTANTS: Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA

Lite-Mart Limited (Registered number: 04118510)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 773,770 718,031
Investment property 5 44,493 -
818,263 718,031

CURRENT ASSETS
Debtors 6 127,122 4,284
Cash at bank 29,101 4,067
156,223 8,351
CREDITORS
Amounts falling due within one year 7 (721,625 ) (560,829 )
NET CURRENT LIABILITIES (565,402 ) (552,478 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

252,861

165,553

CREDITORS
Amounts falling due after more than
one year

8

(186,433

)

(114,566

)
NET ASSETS 66,428 50,987

CAPITAL AND RESERVES
Called up share capital 220 220
Retained earnings 66,208 50,767
66,428 50,987

Lite-Mart Limited (Registered number: 04118510)

Balance Sheet - continued
31 December 2024


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

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

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 by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:





Mrs G K Gandham - Director


Lite-Mart Limited (Registered number: 04118510)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Lite-Mart 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
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.

The financial statements contain information about Lite-Mart Limited as an individual company and do not contain consolidated financial statements as the parent of the group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it is considered to be the parent company of a small group.

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

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 etc - 33% on reducing balance and 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is 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.


Lite-Mart Limited (Registered number: 04118510)

Notes to the Financial Statements - continued
for the Year Ended 31 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.

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 610,000 156,240 766,240
Additions - 98,015 98,015
At 31 December 2024 610,000 254,255 864,255
DEPRECIATION
At 1 January 2024 - 48,209 48,209
Charge for year - 42,276 42,276
At 31 December 2024 - 90,485 90,485
NET BOOK VALUE
At 31 December 2024 610,000 163,770 773,770
At 31 December 2023 610,000 108,031 718,031

Lite-Mart Limited (Registered number: 04118510)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 44,493
At 31 December 2024 44,493
NET BOOK VALUE
At 31 December 2024 44,493

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed by group undertakings 124,284 4,284
Other debtors 2,838 -
127,122 4,284

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors - 180
Amounts owed to group undertakings 501,292 181,546
Taxation and social security 1,875 2,194
Other creditors 218,458 376,909
721,625 560,829

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 181,433 109,566
Other creditors 5,000 5,000
186,433 114,566

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.