| REGISTERED NUMBER: |
| Audited Financial Statements |
| for the Year Ended 31st December 2024 |
| for |
| LIGHTHOUSE (UK) LIMITED |
| REGISTERED NUMBER: |
| Audited Financial Statements |
| for the Year Ended 31st December 2024 |
| for |
| LIGHTHOUSE (UK) LIMITED |
| LIGHTHOUSE (UK) LIMITED (REGISTERED NUMBER: 04414422) |
| Contents of the Financial Statements |
| for the Year Ended 31st December 2024 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2 |
| LIGHTHOUSE (UK) LIMITED (REGISTERED NUMBER: 04414422) |
| Balance Sheet |
| 31st December 2024 |
| 2023 | 2024 |
| £ | £ | Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| LIGHTHOUSE (UK) LIMITED (REGISTERED NUMBER: 04414422) |
| Notes to the Financial Statements |
| for the Year Ended 31st December 2024 |
| 1. | STATUTORY INFORMATION |
| Lighthouse (UK) Limited is a |
| Registered number: |
| Registered office: |
| 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", Section 1A Small Entities and the Companies Act 2006. |
| The financial statements have been prepared under the historical cost convention. |
| Going Concern |
| These financial statements have been prepared on a going concern basis. |
| The current economic conditions present increased risks for all businesses. At the time of approving the financial statements , the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
| Therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Lighthouse (UK) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking form a small group. |
| Related party exemption |
| As the company is a wholly owned subsidiary of the group ultimately headed by MaxCo Limited, the company has taken advantage of the exemption contained in FRS 102 Section 33.1A and has therefore not disclosed transactions or balances with entities which form part of the group. The consolidated financial statements of MaxCo Limited, within which this company is included, can be obtained from the address given in the ultimate controlling party note. |
| LIGHTHOUSE (UK) LIMITED (REGISTERED NUMBER: 04414422) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Turnover |
| Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them. |
| Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts. |
| All income is in respect of the sale of goods. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2019 is being amortised evenly over its estimated useful life of five years in line with group policy and the expected useful life of the underlying assets acquired. |
| 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. |
| Tangible fixed assets |
| Tangible fixed assets are measured at cost at the date of purchase. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery - 20% on written down values |
| Office equipment - 15% on written down values |
| Motor vehicles - 25% on written down values |
| Computer equipment - 25% on written down values |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognized at cost. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads where applicable. |
| 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. |
| LIGHTHOUSE (UK) LIMITED (REGISTERED NUMBER: 04414422) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Current and 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. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| Cost |
| At 1st January 2024 |
| and 31st December 2024 |
| Amortisation |
| At 1st January 2024 |
| Charge for year |
| At 31st December 2024 |
| Net book value |
| At 31st December 2024 |
| At 31st December 2023 |
| LIGHTHOUSE (UK) LIMITED (REGISTERED NUMBER: 04414422) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Office | Motor | Computer |
| Totals | machinery | equipment | vehicles | equipment |
| £ | £ | £ | £ | £ |
| Cost |
| At 1st January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31st December 2024 |
| Depreciation |
| At 1st January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31st December 2024 |
| Net book value |
| At 31st December 2024 |
| At 31st December 2023 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1st January 2024 |
| and 31st December 2024 |
| Net book value |
| At 31st December 2024 |
| At 31st December 2023 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Prepayments |
| LIGHTHOUSE (UK) LIMITED (REGISTERED NUMBER: 04414422) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Corporation Tax |
| Social security and other taxes |
| VAT | 124,965 | 149,479 |
| Accruals and deferred income |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1st January 2024 |
| Charge to Statement of Income and Retained Earnings during year |
| Balance at 31st December 2024 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 13. | OTHER FINANCIAL COMMITMENTS |
| There was a commitment at the year end totalling £77,492 in respect of orders placed for goods prior to the year end which were not received until the current financial year. |
| LIGHTHOUSE (UK) LIMITED (REGISTERED NUMBER: 04414422) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2024 |
| 14. | ULTIMATE CONTROLLING PARTY |
| The company is a wholly owned subsidiary of Lighthouse (UK) Holdco Limited, which is a wholly owned subsidiary of MaxCo Limited, the ultimate holding company, a publicly listed entity in Japan. |
| The parent undertaking of both the largest and smallest group which prepares consolidated financial statements which include the results of Lighthouse (UK) Limited is MaxCo Limited incorporated in Japan. Copies of the consolidated financial statements can be obtained from MaxCo Limited 103-8502: 6-6, Nihonbashi Hakozaki-cho, Chuo-ku, Tokyo. |