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REGISTERED NUMBER: 06392511 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

LITE HOMES LTD

LITE HOMES LTD (REGISTERED NUMBER: 06392511)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LITE HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: N J Harris
D Bowden
Mrs E Harris



SECRETARY: Mrs E Harris



REGISTERED OFFICE: Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



REGISTERED NUMBER: 06392511 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Natwest
Paignton

LITE HOMES LTD (REGISTERED NUMBER: 06392511)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,141 44,888

CURRENT ASSETS
Stocks 5 1,486,388 1,350,281
Debtors 6 242,082 9,277
Cash at bank 2,133 39,337
1,730,603 1,398,895
CREDITORS
Amounts falling due within one year 7 2,078,778 1,587,432
NET CURRENT LIABILITIES (348,175 ) (188,537 )
TOTAL ASSETS LESS CURRENT LIABILITIES (312,034 ) (143,649 )

CREDITORS
Amounts falling due after more than one
year

8

5,928

15,928
NET LIABILITIES (317,962 ) (159,577 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (318,062 ) (159,677 )
SHAREHOLDERS' FUNDS (317,962 ) (159,577 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LITE HOMES LTD (REGISTERED NUMBER: 06392511)

BALANCE SHEET - continued
31 OCTOBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 July 2025 and were signed on its behalf by:




N J Harris - Director



D Bowden - Director


LITE HOMES LTD (REGISTERED NUMBER: 06392511)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Lite Homes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
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 reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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.

LITE HOMES LTD (REGISTERED NUMBER: 06392511)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Going concern
The company meets its day to day working capital requirements through a loan provided by Mr N Harris and Mr D Bowden, as Directors of the company. They will continue to support the company in this way until such times as profits are made.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 89,748 1,954 21,525 912 114,139
Additions 244 - - 458 702
At 31 October 2024 89,992 1,954 21,525 1,370 114,841
DEPRECIATION
At 1 November 2023 52,617 476 15,674 484 69,251
Charge for year 7,475 222 1,463 289 9,449
At 31 October 2024 60,092 698 17,137 773 78,700
NET BOOK VALUE
At 31 October 2024 29,900 1,256 4,388 597 36,141
At 31 October 2023 37,131 1,478 5,851 428 44,888

5. STOCKS
2024 2023
£    £   
Stocks 1,486,388 1,350,281

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 237,593 -
Other debtors - 100
VAT 4,489 9,177
242,082 9,277

LITE HOMES LTD (REGISTERED NUMBER: 06392511)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 1,377,298 807,450
G Pook Loan - Selectfew Ltd 518,979 483,979
Trade creditors 9,959 39,711
Social security and other taxes 6,556 6,790
Pensions Liabilities 246 723
Other creditors 12,500 -
Directors' current accounts 140,912 236,789
Accrued expenses 2,328 1,990
2,078,778 1,587,432

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 5,928 15,928

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
N J Harris
Balance outstanding at start of year (226,676 ) (163,017 )
Amounts advanced 175,689 6,808
Amounts repaid (79,812 ) (70,467 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (130,799 ) (226,676 )

D Bowden
Balance outstanding at start of year (10,113 ) (3,738 )
Amounts repaid - (6,375 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,113 ) (10,113 )

Loans are interest free, unsecured and repayable on demand.

10. BOUNCE BACK LOAN

The bank loan is a COVID-19 Bounce Back Loan guaranteed by the government. Term runs to May 2026.