Registration number:
Lighthouse One UK Limited
for the Year Ended 31 December 2024
Lighthouse One UK Limited
Contents
|
Company Information |
|
|
Balance Sheet |
|
|
Notes to the Financial Statements |
Lighthouse One UK Limited
Company Information
|
Directors |
J F Van Biljon J J Muller |
|
Company secretary |
Intertrust (UK) Limited |
|
Registered office |
|
|
Auditors |
|
Lighthouse One UK Limited
(Registration number: 10231703)
Balance Sheet as at 31 December 2024
|
Note |
2024 |
2023 |
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
6,766,908 |
6,766,908 |
|
|
Other reserves |
(810) |
(810) |
|
|
Retained earnings |
(6,380,839) |
(6,369,724) |
|
|
Shareholders' funds |
385,259 |
396,374 |
Approved and authorised by the
|
......................................... |
Lighthouse One UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
General information |
The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Principal activity
The principal activity of the Company is that of an investment company.
These financial statements were authorised for issue by the
|
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
These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
The financial statements are presented in Euros, the functional company is deemed to be Euros. The Euro/Sterling exchange rate as at 31 December 2024 is €1.2096 (31 December 2023 is €1.1495).
Lighthouse One UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Going concern
The financial statements have been prepared on a going concern basis.
Turnover recognition
Turnover comprises the fair value of the consideration received or receivable for the 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.
Foreign currency transactions and balances
Non monetary assets have been translated at the rate ruling on the date of the translation and no subsequent translation of these assets has been carried out.
The functional currency of the company is Euro, being the currency in the trading environment to which the company is exposed.
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.
Financial instruments
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
Lighthouse One UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Debtors
Debtors are amounts due from customers for services performed in the ordinary course of business.
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.
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.
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.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Lighthouse One UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Significant judgements and key sources of estimation uncertainty |
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty. |
|
Summary audit opinion |
Audit report
The name of the Senior Statutory Auditor who signed the audit report on
|
Staff numbers |
The average number of persons employed by the Company (including directors) during the year, was
|
Debtors |
|
Current |
Note |
2024 |
2023 |
|
Amounts owed by related parties |
|
|
|
|
Other debtors |
|
|
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
|
2024 |
2023 |
|
|
Due within one year |
||
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
|
|
Lighthouse One UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
€ |
No. |
€ |
|
|
|
|
6,766,908 |
|
6,766,908 |
|
Dividends |
The directors are recommending a final dividend of €Nil (2023 - €Nil) per share totalling €Nil (2023 - €Nil). This dividend has not been accrued in the balance sheet.
|
Parent and ultimate parent undertaking |
Lighthouse Properties p.l.c. is the sole shareholder of Lighthouse One UK Limited and is the ultimate holding company of the group (the “Group”) to which the Company belongs.
The registered office of Lighthouse Properties p.l.c is 4th Floor, Office 41, Block A, IL-Piazzetta, Tower Road, Sliema, Malta, SLM 1605.
The Group Financial Statements are available at www.lighthouse.mt/financials.
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2024 |
2023 |
|
|
Later than one year and not later than five years |
|
|