Company registration number 07841477 (England and Wales)
123 LIGHTING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
123 LIGHTING LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
123 LIGHTING LTD
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
333,556
298,374
Current assets
Debtors
4
201,195
171,295
Cash at bank and in hand
12,848
37,336
214,043
208,631
Creditors: amounts falling due within one year
5
(98,186)
(98,573)
Net current assets
115,857
110,058
Total assets less current liabilities
449,413
408,432
Creditors: amounts falling due after more than one year
6
(86,096)
(14,855)
Provisions for liabilities
(63,376)
(56,691)
Net assets
299,941
336,886
Capital and reserves
Called up share capital
150
150
Profit and loss reserves
299,791
336,736
Total equity
299,941
336,886
123 LIGHTING LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

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

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 28 August 2025 and are signed on its behalf by:
Mr C J Fairchild
Director
Company Registration No. 07841477
123 LIGHTING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

123 Lighting Ltd is a private company limited by shares incorporated in England and Wales. The registered office is , Arch 405, Cremer Street, London, E2 8HD.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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.

1.3
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:

Leasehold land and buildings
3 year straight line
Plant and equipment
25% reducing balance method
Fixtures and fittings
3 year straight line
Computers
3 year straight line
Motor vehicles
25% on reducing balance method

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.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

123 LIGHTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.5
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
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.

123 LIGHTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
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.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

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

2025
2024
Number
Number
Total
2
2
123 LIGHTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
105,480
997,759
1,103,239
Additions
-
0
158,620
158,620
Disposals
-
0
(52,217)
(52,217)
At 31 March 2025
105,480
1,104,162
1,209,642
Depreciation and impairment
At 1 April 2024
101,839
703,026
804,865
Depreciation charged in the year
3,120
94,049
97,169
Eliminated in respect of disposals
-
0
(25,948)
(25,948)
At 31 March 2025
104,959
771,127
876,086
Carrying amount
At 31 March 2025
521
333,035
333,556
At 31 March 2024
3,641
294,733
298,374
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
123,712
126,147
Corporation tax recoverable
24
4,446
Other debtors
60,862
27,679
Prepayments and accrued income
16,597
13,023
201,195
171,295
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
15,545
-
0
Obligations under finance leases
18,186
23,260
Trade creditors
13,387
17,824
Corporation tax
-
0
16,158
Other taxation and social security
3,579
6,296
Other creditors
39,527
25,711
Accruals and deferred income
7,962
9,324
98,186
98,573
123 LIGHTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
6
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
54,408
-
0
Obligations under finance leases
31,688
14,855
86,096
14,855
2025-03-312024-04-01falsefalsefalse28 August 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr C J FairchildMr D L Buttleman078414772024-04-012025-03-31078414772025-03-31078414772024-03-3107841477core:LandBuildings2025-03-3107841477core:OtherPropertyPlantEquipment2025-03-3107841477core:LandBuildings2024-03-3107841477core:OtherPropertyPlantEquipment2024-03-3107841477core:CurrentFinancialInstrumentscore:WithinOneYear2025-03-3107841477core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3107841477core:Non-currentFinancialInstrumentscore:AfterOneYear2025-03-3107841477core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3107841477core:CurrentFinancialInstruments2025-03-3107841477core:CurrentFinancialInstruments2024-03-3107841477core:Non-currentFinancialInstruments2025-03-3107841477core:Non-currentFinancialInstruments2024-03-3107841477core:ShareCapital2025-03-3107841477core:ShareCapital2024-03-3107841477core:RetainedEarningsAccumulatedLosses2025-03-3107841477core:RetainedEarningsAccumulatedLosses2024-03-3107841477bus:Director12024-04-012025-03-3107841477core:LandBuildingscore:LongLeaseholdAssets2024-04-012025-03-3107841477core:PlantMachinery2024-04-012025-03-3107841477core:FurnitureFittings2024-04-012025-03-3107841477core:ComputerEquipment2024-04-012025-03-3107841477core:MotorVehicles2024-04-012025-03-31078414772023-04-012024-03-3107841477core:LandBuildings2024-03-3107841477core:OtherPropertyPlantEquipment2024-03-31078414772024-03-3107841477core:LandBuildings2024-04-012025-03-3107841477core:OtherPropertyPlantEquipment2024-04-012025-03-3107841477bus:PrivateLimitedCompanyLtd2024-04-012025-03-3107841477bus:FRS1022024-04-012025-03-3107841477bus:AuditExemptWithAccountantsReport2024-04-012025-03-3107841477bus:Director22024-04-012025-03-3107841477bus:SmallCompaniesRegimeForAccounts2024-04-012025-03-3107841477bus:FullAccounts2024-04-012025-03-31xbrli:purexbrli:sharesiso4217:GBP