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Registered number: 05321797
Light Construction Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Stack & Jones Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05321797
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,138 21,137
21,138 21,137
CURRENT ASSETS
Stocks 5 49,278 50,320
Debtors 6 13,473 1,282
Cash at bank and in hand 48,534 31,569
111,285 83,171
Creditors: Amounts Falling Due Within One Year 7 (102,674 ) (68,322 )
NET CURRENT ASSETS (LIABILITIES) 8,611 14,849
TOTAL ASSETS LESS CURRENT LIABILITIES 29,749 35,986
Creditors: Amounts Falling Due After More Than One Year 8 (14,703 ) (28,914 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,731 ) (4,016 )
NET ASSETS 11,315 3,056
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 11,314 3,055
SHAREHOLDERS' FUNDS 11,315 3,056
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Hadley Light
Director
28/08/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Light Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05321797 . The registered office is Unit 4, Willows Gate, Stratton Audley, Bicester, Oxfordshire, OX27 9AU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 5% Straight line
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 December 2023 - 10,029 17,495 2,253 29,777
Additions 5,382 - - - 5,382
As at 30 November 2024 5,382 10,029 17,495 2,253 35,159
Depreciation
As at 1 December 2023 - 4,727 1,822 2,091 8,640
Provided during the period 112 1,326 3,918 25 5,381
As at 30 November 2024 112 6,053 5,740 2,116 14,021
Net Book Value
As at 30 November 2024 5,270 3,976 11,755 137 21,138
As at 1 December 2023 - 5,302 15,673 162 21,137
5. Stocks
2024 2023
£ £
Materials 34,200 38,500
Work in progress 15,078 11,820
49,278 50,320
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,580 308
Prepayments and accrued income 893 974
13,473 1,282
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,293 4,404
Trade creditors 13,432 4,373
Bank loans and overdrafts 10,000 8,333
Corporation tax 22,062 17,304
Other taxes and social security 4,864 5,944
VAT 11,339 3,029
Other creditors 25,446 22,936
Accruals and deferred income 1,995 1,815
Director's loan account 10,243 184
102,674 68,322
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,703 12,247
Bank loans 5,000 16,667
14,703 28,914
Amounts due under finance lease and hire purchase contracts are secured on the assets concerned.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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