REGISTERED NUMBER: 04656474 (England and Wales)

PHI Lighting Limited

Unaudited Financial Statements

for the Period

1 April 2024 to 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I D Hill

Miss C Westcott

REGISTERED OFFICE:

6 Oban Road

Coventry

Warwickshire

CV6 6HH

REGISTERED NUMBER:

04656474 (England and Wales)

ACCOUNTANTS:

Moffat Gilbert

Unit 12

Shottery Brook Office Park

Timothy's Bridge Road

Stratford upon Avon

Warwickshire

CV37 9NR

FIXED ASSETS

Tangible assets

4

7,131

12,024

CURRENT ASSETS

Stocks

95,270

155,544

Debtors

5

112,777

259,420

Cash at bank

13,173

1,195,211

221,220

1,610,175

CREDITORS

Amounts falling due within one year

6

89,053

132,183

NET CURRENT ASSETS

132,167

1,477,992

TOTAL ASSETS LESS CURRENT LIABILITIES

139,298

1,490,016

PROVISIONS FOR LIABILITIES

-

619

NET ASSETS

139,298

1,489,397

CAPITAL AND RESERVES

Called up share capital

101

101

Retained earnings

139,197

1,489,296

SHAREHOLDERS' FUNDS

139,298

1,489,397

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2025 and were signed on its behalf by:

I D Hill - Director

1.	STATUTORY INFORMATION

PHI Lighting Limited is a private company, limited by shares , registered in England and Wales. 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.

The accounting period was shortened to end on 31 December 2024 to be coterminous with its new holding company, Smart Systems UK Limited.

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.

Plant and machinery

-

10% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

22,697

Additions

148

Disposals

(10,509

)

At 31 December 2024

12,336

DEPRECIATION

At 1 April 2024

10,673

Charge for period

838

Eliminated on disposal

(6,306

)

At 31 December 2024

5,205

NET BOOK VALUE

At 31 December 2024

7,131

At 31 March 2024

12,024

5.

DEBTORS

31.12.24

31.3.24

£

£

Amounts falling due within one year:

Trade debtors

60,746

154,821

Other debtors

10,800

12,855

Tax

7,991

-

Prepayments and accrued income

22,063

91,744

101,600

259,420

Amounts falling due after more than one year:

Tax

11,177

-

Aggregate amounts

112,777

259,420

Within other debtors is the rent deposit of £10,800 ,which is due for recovery after one year (as at 31 March 2024 £10,800). The taxation due for recovery after one year is wholly deferred taxation.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.3.24

£

£

Trade creditors

34,864

51,846

Tax

-

7,991

Social security and other taxes

5,902

4,028

VAT

14,456

43,888

Other creditors

5,538

37

Accruals and deferred income

28,293

24,393

89,053

132,183

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.3.24

£

£

Within one year

40,000

40,000

Between one and five years

10,000

40,000

50,000

80,000

8.	ULTIMATE CONTROLLING PARTY

The entire share capital of the company was purchased during the period by Smart Systems UK Limited which, therefore, became the company's ultimate parent undertaking. The registered office of Smart Systems UK Limited is 6 Oban Road, Coventry, Warwickshire.