Silverfin false false 31/12/2024 01/01/2024 31/12/2024 A Brown 03/09/2008 R Rowe 01/03/2024 C Stephen 03/09/2008 E Stephen 25/11/2021 07 May 2025 Exclusive partners with a number of leading European lighting manufacturers, supplying innovative and costs effective lighting solutions to the commercial and architectural lighting markets. SC345208 2024-12-31 SC345208 bus:Director1 2024-12-31 SC345208 bus:Director2 2024-12-31 SC345208 bus:Director3 2024-12-31 SC345208 bus:Director4 2024-12-31 SC345208 2023-12-31 SC345208 core:CurrentFinancialInstruments 2024-12-31 SC345208 core:CurrentFinancialInstruments 2023-12-31 SC345208 core:Non-currentFinancialInstruments 2024-12-31 SC345208 core:Non-currentFinancialInstruments 2023-12-31 SC345208 core:ShareCapital 2024-12-31 SC345208 core:ShareCapital 2023-12-31 SC345208 core:RevaluationReserve 2024-12-31 SC345208 core:RevaluationReserve 2023-12-31 SC345208 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC345208 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC345208 core:LandBuildings 2023-12-31 SC345208 core:Vehicles 2023-12-31 SC345208 core:OfficeEquipment 2023-12-31 SC345208 core:LandBuildings 2024-12-31 SC345208 core:Vehicles 2024-12-31 SC345208 core:OfficeEquipment 2024-12-31 SC345208 bus:OrdinaryShareClass1 2024-12-31 SC345208 2024-01-01 2024-12-31 SC345208 bus:FilletedAccounts 2024-01-01 2024-12-31 SC345208 bus:SmallEntities 2024-01-01 2024-12-31 SC345208 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC345208 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC345208 bus:Director1 2024-01-01 2024-12-31 SC345208 bus:Director2 2024-01-01 2024-12-31 SC345208 bus:Director3 2024-01-01 2024-12-31 SC345208 bus:Director4 2024-01-01 2024-12-31 SC345208 core:LandBuildings core:TopRangeValue 2024-01-01 2024-12-31 SC345208 core:Vehicles 2024-01-01 2024-12-31 SC345208 core:OfficeEquipment 2024-01-01 2024-12-31 SC345208 2023-01-01 2023-12-31 SC345208 core:LandBuildings 2024-01-01 2024-12-31 SC345208 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 SC345208 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC345208 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC345208 (Scotland)

FUTURE ARCHITECTURAL LIGHTING LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

FUTURE ARCHITECTURAL LIGHTING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

FUTURE ARCHITECTURAL LIGHTING LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024
FUTURE ARCHITECTURAL LIGHTING LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,333 128,699
1,333 128,699
Current assets
Stocks 2,243 10,959
Debtors 4 32,912 64,835
Cash at bank and in hand 149,222 8,424
184,377 84,218
Creditors: amounts falling due within one year 5 ( 68,363) ( 73,370)
Net current assets 116,014 10,848
Total assets less current liabilities 117,347 139,547
Creditors: amounts falling due after more than one year 6 0 ( 64,167)
Provision for liabilities ( 1,352) ( 199)
Net assets 115,995 75,181
Capital and reserves
Called-up share capital 7 100 100
Revaluation reserve 0 37,765
Profit and loss account 115,895 37,316
Total shareholders' funds 115,995 75,181

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Future Architectural Lighting Limited (registered number: SC345208) were approved and authorised for issue by the Board of Directors on 07 May 2025. They were signed on its behalf by:

E Stephen
Director
FUTURE ARCHITECTURAL LIGHTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
FUTURE ARCHITECTURAL LIGHTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Future Architectural Lighting Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 244 Wallace Street, Glasgow, G5 8AE, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents amounts receivable for the sale of lighting solutions and is stated net of VAT.

Revenue is recognised when the significant risks and rewards of ownership have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is
provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax
rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straightline or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, costs incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 4

3. Tangible assets

Land and buildings Vehicles Office equipment Total
£ £ £ £
Cost
At 01 January 2024 125,000 3,000 6,636 134,636
Disposals ( 125,000) ( 3,000) 0 ( 128,000)
At 31 December 2024 0 0 6,636 6,636
Accumulated depreciation
At 01 January 2024 0 1,078 4,859 5,937
Charge for the financial year 1,875 80 444 2,399
Disposals ( 1,875) ( 1,158) 0 ( 3,033)
At 31 December 2024 0 0 5,303 5,303
Net book value
At 31 December 2024 0 0 1,333 1,333
At 31 December 2023 125,000 1,922 1,777 128,699

4. Debtors

2024 2023
£ £
Trade debtors 28,535 30,303
Other debtors 4,377 34,532
32,912 64,835

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 14,167 10,000
Trade creditors 9,359 4,769
Taxation and social security 44,388 21,685
Other creditors 449 36,916
68,363 73,370

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 14,167
Other creditors 0 50,000
0 64,167

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due to key management personnel 49 86,516