Company registration number 12457201 (England and Wales)
DARO SPECIALIST LIGHTING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
DARO SPECIALIST LIGHTING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
DARO SPECIALIST LIGHTING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
17,219
Current assets
Stocks
1,384
34,348
Debtors
4
116,585
133,304
Cash at bank and in hand
28,003
8,009
145,972
175,661
Creditors: amounts falling due within one year
5
(802,149)
(690,783)
Net current liabilities
(656,177)
(515,122)
Total assets less current liabilities
(656,177)
(497,903)
Provisions for liabilities
-
0
(11,236)
Net liabilities
(656,177)
(509,139)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(656,277)
(509,239)
Total equity
(656,177)
(509,139)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 2 May 2025 and are signed on its behalf by:
Mr M Douglas
Director
Company registration number 12457201 (England and Wales)
DARO SPECIALIST LIGHTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Daro Specialist Lighting Limited is a private company limited by shares incorporated in England and Wales. The registered office is Churchfield Road, Chilton Industrial Estate, Sudbury, Suffolk, CO10 2YA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. As outlined in note 1.2 below the directors have taken the decision to close down this company and transfer its trading activities to other companies in the group. Accordingly the financial statements are prepared on a basis other than going concern. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving these financial statements, it is the director's intention to cease the trade of the company within 12 months of the approval date by transferring the company's trading activities to a fellow group undertaking. The company is therefore no longer a going concern, and the financial statements have been prepared on that basis.

 

The directors expect that with the assistance of the company's parent that the winding up of the company will be conducted on the basis that the company remains solvent, and as a result no changes to the accounting policies adopted by the company in previous periods are considered necessary despite the fact that the financial statements are not being prepared on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), 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.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% straight line
Computer equipment
15% straight line

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.

DARO SPECIALIST LIGHTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
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, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

DARO SPECIALIST LIGHTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

 

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

1.11

Consolidation

In the opinion of the director, the company and its parent company comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
7
DARO SPECIALIST LIGHTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
22,524
Additions
7,990
Disposals
(30,514)
At 31 December 2024
-
0
Depreciation and impairment
At 1 January 2024
5,305
Depreciation charged in the year
4,577
Eliminated in respect of disposals
(9,882)
At 31 December 2024
-
0
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
17,219
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
27,077
120,761
Amounts owed by group undertakings
89,508
9,320
Other debtors
-
0
3,223
116,585
133,304
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,834
165,962
Amounts owed to group undertakings
776,155
512,078
Taxation and social security
16,326
10,086
Other creditors
3,834
2,657
802,149
690,783
DARO SPECIALIST LIGHTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Emphasis of matter - financial statements prepared on a basis other than going concern

We draw attention to note 1.2 to the financial statements which explains that the directors intend to cease the trade of the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 1.2.

Our opinion is not modified in respect of this matter.

Senior Statutory Auditor:
Matthew Wilkinson BSc FCA
Statutory Auditor:
Moore Green
Date of audit report:
2 May 2025
7
Events after the reporting date

As outlined in note 1.2 the directors have concluded that it is in the interest of the group as a whole for this company to cease to trade and its activities to be transferred to a fellow group company. It is anticipated that as part of that process the inter-company liabilities of this company will be released by the other group companies provision for such having been made at the year end in the financial statements of the affected group companies.

DARO SPECIALIST LIGHTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
8
Related party transactions

The company operates from facilities shared with other group members and considers that provision for shared costs and services is included within inter-company charges.

 

At the date of signing the financial statements, it is the director's intention to cease the trade of the entity within the next 12 months. At 31 December 2024, Daro Specialist Lighting Limited had the following amounts due to and due from related group companies:

 

Included in amounts due from group undertakings are the following balances due from related group companies:-

 

£3,108 due from Daro UV Systems Limited

£86,400 due from Daro Group Limited

 

Included in amounts owed to group undertakings are the following balances owed to related group companies:-

 

£391,201 due to Light Years Ahead Limited

£384,954 due to Daro Manufacturing Services Limited

 

Daro Specialist Lighting Limited is unable to repay these balances to their related entities,

 

Purchases during the year from these group companies totaled:-

 

£397,751 from Daro Manufacturing Services Limited

 

Recharges from these group companies totaled:-

 

£39,000 from Daro Manufacturing Services Limited

 

9
Directors' transactions

 

The directors consider that there are no transactions to disclose.    

10
Parent company

The immediate parent company is Daro Group Limited, a company incorporated in England and Wales, which owns the whole of the issued share capital of the company. The registered office for Daro Group Limited is Churchfield Road, Chilton Industrial Estate, Sudbury, Suffolk, CO10 2YA.

The ultimate parent company is Intellego Technologies AB, a company incorporated in Sweden.

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