REGISTERED NUMBER: 02276938

Unaudited Financial Statements for the Year Ended 31 October 2024

for

Lightwear Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

J K Edgecombe

REGISTERED OFFICE:

The Factory

43 North Avenue

Coalville

Leicestershire

LE67 3QX

REGISTERED NUMBER:

02276938

ACCOUNTANTS:

The Profit Key Limited

Prince William House

10 Lower Church Street

Ashby de la Zouch

Leicestershire

LE65 1AB

BANKERS:

Bank of Scotland

600 Gorgie Road

Edinburgh

EH11 3XP

FIXED ASSETS

Tangible assets

4

33,411

45,858

CURRENT ASSETS

Stocks

13,443

9,306

Debtors

5

54,621

212,507

Cash at bank

199,154

192,653

267,218

414,466

CREDITORS

Amounts falling due within one year

6

100,081

203,381

NET CURRENT ASSETS

167,137

211,085

TOTAL ASSETS LESS CURRENT LIABILITIES

200,548

256,943

PROVISIONS FOR LIABILITIES

5,846

8,713

NET ASSETS

194,702

248,230

CAPITAL AND RESERVES

Called up share capital

7

11,084

11,084

Retained earnings

183,618

237,146

SHAREHOLDERS' FUNDS

194,702

248,230

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 director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 October 2025 and were signed by:

J Keam - Director

1.	STATUTORY INFORMATION

Lightwear Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Equipment

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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 Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Loans from director

Any loans from the Director to the company are interest free and repayable on demand.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

Equipment

fittings

equipment

Totals

£

£

£

£

COST

At 1 November 2023

260,445

3,311

82,826

346,582

Additions

6,436

-

1,105

7,541

Disposals

(23,703

)

-

(2,424

)

(26,127

)

At 31 October 2024

243,178

3,311

81,507

327,996

DEPRECIATION

At 1 November 2023

217,359

2,807

80,558

300,724

Charge for year

12,389

127

1,119

13,635

Eliminated on disposal

(17,563

)

-

(2,211

)

(19,774

)

At 31 October 2024

212,185

2,934

79,466

294,585

NET BOOK VALUE

At 31 October 2024

30,993

377

2,041

33,411

At 31 October 2023

43,086

504

2,268

45,858

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

26,843

50,422

Other debtors

494

-

Inter company account

24,065

159,854

Called up share capital not paid

300

300

Prepayments

2,919

1,931

54,621

212,507

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

66,860

58,994

Tax

2,611

6,204

Social security and other taxes

1,547

1,113

VAT

8,413

6,691

Other creditors

2,062

596

Directors' current accounts

14,951

93,614

Accrued expenses

3,637

36,169

100,081

203,381

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10,784

Ordinary

£1

10,784

10,784

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

£

£

300

Ordinary A - C

£1

300

300

8.	OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments totalling £80,000 (2023 - £95,000) over the remaining period of the lease.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is J K Edgecombe.

Lightwear Limited is a wholly owned subsidiary of Revolution Digital Solutions Limited.