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Registration number: 11059104

Luminous Show Technology Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Luminous Show Technology Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 10

 

Luminous Show Technology Limited

(Registration number: 11059104)
Statement of Financial Position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

112,648

101,818

Current assets

 

Stocks

5

523,009

464,777

Debtors

6

237,276

292,614

Cash at bank and in hand

 

267,338

568,251

 

1,027,623

1,325,642

Creditors: Amounts falling due within one year

7

(377,210)

(520,320)

Net current assets

 

650,413

805,322

Total assets less current liabilities

 

763,061

907,140

Creditors: Amounts falling due after more than one year

7

(31,727)

(87,982)

Provisions for liabilities

(21,338)

(24,902)

Net assets

 

709,996

794,256

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

709,896

794,156

Shareholders' funds

 

709,996

794,256

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.

Directors' 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 directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 31 July 2025 and signed on its behalf by:
 


Mr M J Badley
Director

 

Luminous Show Technology Limited

Notes to the Unaudited 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 and Wales.

The address of its registered office is:
Unit 14
Apple Lane
Exeter
EX2 5GL
England

Principal activity

The principal activity of the company is manufacturing of special-purpose machinery.

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 prepared in sterling which is the functional currency of the entity.

 

Luminous Show Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

 

Luminous Show Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Fixtures and fittings

15% reducing balance

Plant and machinery

25% reducing balance

Computer equipment

25% reducing balance

Leasehold improvements

10% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

 

Luminous Show Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 statement of comprehensive income 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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 statement of financial position as a finance lease obligation.

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

 

Luminous Show Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 15).

 

Luminous Show Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 December 2023

16,973

13,643

126,200

33,365

190,181

Additions

-

4,013

5,657

35,761

45,431

At 30 November 2024

16,973

17,656

131,857

69,126

235,612

Depreciation

At 1 December 2023

5,860

6,335

57,859

18,309

88,363

Charge for the year

1,698

1,698

18,500

12,705

34,601

At 30 November 2024

7,558

8,033

76,359

31,014

122,964

Carrying amount

At 30 November 2024

9,415

9,623

55,498

38,112

112,648

At 30 November 2023

11,113

7,308

68,341

15,056

101,818

5

Stocks

2024
£

2023
£

Other inventories

523,009

464,777

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

204,131

210,469

Amounts owed by related parties

11

-

99

Other debtors

 

-

45,995

Prepayments

 

10,419

36,051

Corporation Tax asset

22,726

-

 

237,276

292,614

 

Luminous Show Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

56,255

56,255

Trade creditors

 

85,354

65,010

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

3,030

-

Taxation and social security

 

18,930

94,966

Accruals and deferred income

 

212,013

299,585

Other creditors

 

1,628

4,504

 

377,210

520,320

Included in creditors due within one year are hire purchase obligations of £10,800 (2023: £10,800) which are secured against the assets to which they relate.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

31,727

87,982

Included in creditors due after more than one year are hire purchase obligations of £9,000 (2023: £19,800) which are secured against the assets to which they relate.

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Luminous Show Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

22,727

68,182

Hire purchase contracts

9,000

19,800

31,727

87,982

Current loans and borrowings

2024
£

2023
£

Bank borrowings

45,455

45,455

Hire purchase contracts

10,800

10,800

56,255

56,255

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

74,409

48,911

Later than one year and not later than five years

226,898

53,111

301,307

102,022

The amount of non-cancellable operating lease payments recognised as an expense during the year was £60,799 (2023 - £60,718).

11

Related party transactions

Transactions with directors

 

Luminous Show Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

11

Related party transactions (continued)

2024

At 1 December 2023
£

Advances to director
£

At 30 November 2024
£

Director 1

(2,357)

2,357

-

Director 2

(772)

772

-

 

(3,129)

3,129

-

     

 

2023

At 1 December 2022
£

Repayments by director
£

At 30 November 2023
£

Director 1

(2,356)

(1)

(2,357)

Director 2

(772)

-

(772)

(3,128)

(1)

(3,129)