Future Light Design Ltd - Filleted accounts

Registered number

06230366

Future Light Design Ltd

Unaudited Filleted Accounts

31 December 2024

Future Light Design Ltd
Registered number:		06230366
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		72,664			21,246

Current assets
Stock and WIP		163,000			248,000
Debtors	4	935,859			605,952
Cash at bank and in hand		86,400			4,932
		1,185,259			858,884

Creditors: amounts falling due within one year	5	(624,716)			(326,649)

Net current assets			560,543			532,235

Total assets less current liabilities			633,207			553,481

Creditors: amounts falling due after more than one year	6		(4,168)			(14,165)

Provisions for liabilities			(11,904)			(4,564)


Net assets			617,135			534,752

Capital and reserves
Called up share capital			100			100
Profit and loss account			617,035			534,652

Shareholder's funds			617,135			534,752

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




M P Kavanagh
Director
Approved by the board on 1 September 2025

Future Light Design Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Showroom lights			25% reducing balance
	Motor Vehicle			25% reducing balance
	FF & equipment			25% reducing balance

	Stocks and work in progress
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. After date invoices are reviewed to determine if it is appropriate to take any profit in the 2018 year.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					8		8


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	15,766		57,584		29,450		102,800
	Additions	-		416		76,193		76,609
	Disposals	-		-		(6,500)		(6,500)
	At 31 December 2024	15,766		58,000		99,143		172,909

	Depreciation
	At 1 January 2024	15,413		42,834		23,307		81,554
	Charge for the year	88		3,791		19,255		23,134
	On disposals	-		-		(4,443)		(4,443)
	At 31 December 2024	15,501		46,625		38,119		100,245

	Net book value
	At 31 December 2024	265		11,375		61,024		72,664
	At 31 December 2023	353		14,750		6,143		21,246



4	Debtors					2024		2023
£							£

	Trade debtors					37,028		39,530
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					-		54,159
	Other debtors					898,831		512,263
						935,859		605,952


5	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					10,000		10,002
	Trade creditors					34,670		224,918
	Amounts owed to associated companies.					6,394		-
	Taxation and social security costs					16,713		40,219
	Other creditors					556,939		51,510
						624,716		326,649


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					4,168		14,165


7	Related party transactions

	At the end of year, the company was owed £2,399.59 (2023: £54,189.59) by M. P. Kavanagh Ltd and £899,000 (2023: £416,000) by Viney Bridge Mills Heritage Limited, companies in which Mr M P Kavanagh is interested as a director and shareholder.


8	Controlling party

	M P Kavanagh controls the company by virtue of owning all the issued shares.


9	Other information

	Future Light Design Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	The Post House, Ockham Road South
	East Horsley
	Leatherhead
	Surrey
	KT24 6RX