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Filleted

Registration number: 09297700

Illumination Projects Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Illumination Projects Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Illumination Projects Ltd

Company Information

Director

Mr A D Hughes

Registered office

29 Llanedi Road
Fforest
Pontarddulais
Swansea
SA4 0TS

 

Illumination Projects Ltd

(Registration number: 09297700)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

48,461

54,921

Current assets

 

Debtors

6

427

4,408

Cash at bank and in hand

 

165,989

108,416

 

166,416

112,824

Creditors: Amounts falling due within one year

7

(69,501)

(48,202)

Net current assets

 

96,915

64,622

Total assets less current liabilities

 

145,376

119,543

Creditors: Amounts falling due after more than one year

7

(35,334)

(41,637)

Net assets

 

110,042

77,906

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

110,041

77,905

Total equity

 

110,042

77,906

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Illumination Projects Ltd

(Registration number: 09297700)
Balance Sheet as at 30 November 2024

Approved and authorised by the director on 1 May 2025
 

.........................................
Mr A D Hughes
Director

   
     
 

Illumination Projects Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
29 Llanedi Road
Fforest
Pontarddulais
Swansea
SA4 0TS

These financial statements were authorised for issue by the director on 1 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

The financial statements have been prepared on a going concern basis.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Illumination Projects Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight line

Plant & Machinery

20% Straight line

Motor Vehicles

20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Illumination Projects Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

11,754

2,906

 

Illumination Projects Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

1,534

10,135

55,885

67,554

Additions

-

5,295

-

5,295

At 30 November 2024

1,534

15,430

55,885

72,849

Depreciation

At 1 December 2023

722

10,048

1,863

12,633

Charge for the year

307

271

11,177

11,755

At 30 November 2024

1,029

10,319

13,040

24,388

Carrying amount

At 30 November 2024

505

5,111

42,845

48,461

At 30 November 2023

812

87

54,022

54,921

6

Debtors

2024
£

2023
£

Trade debtors

-

1,446

Other debtors

427

2,962

427

4,408

 

Illumination Projects Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

6,303

6,303

Taxation and social security

 

120

662

Corporation tax liability

 

19,269

2,121

Other creditors

 

-

1,431

Director current account

 

43,809

37,685

 

69,501

48,202

Due after one year

 

Loans and borrowings

9

35,334

41,637

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

35,334

41,637

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Share of £1 each

1

1

1

1

         
 

Illumination Projects Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

HP and finance lease liabilities

35,334

41,637

 

Illumination Projects Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

2024
£

2023
£

Current loans and borrowings

HP and finance lease liabilities

6,303

6,303

10

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Mr A D Hughes

Interest free loan repayable on demand

(37,685)

558

(6,682)

(43,809)

         
       

 

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr A D Hughes

Interest free loan repayable on demand

(37,579)

206

(312)

(37,685)