Light Developments Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Light Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04602381 . The registered office is The Grange, Gloucester Road, Staverton, Cheltenham, GL51 0TF.

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 recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the

identifiable assets and liabilities. It is amortised to the Statement of Income and Retained Earnings over its

economic life of 20 years on a straight line basis.

2.4. Tangible Fixed Assets and Depreciation

Tangible assets under the cost model are stated at historical cost less accumulated depreciation and any

accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method as follows:

Freehold	Not depreciated
Plant & Machinery	15%
Motor Vehicles	25%
Fixtures & Fittings	15%

The assets’ residuals values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

2.5. Stocks and Work in Progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to

complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and

finished goods include labour and attributable overheads.

At each balance sheet dates, stocks are assessed for impairment. If stock is impaired, the carrying amount is

reduced to its selling proceeds less costs to complete and sell. The impairment loss is recognised immediately in the profit or loss.

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Light Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Financial Instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out right short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, impairment loss is recognised in the Profit and Loss and Statement of Retained Earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an assets carrying amount and the present value of estimated cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

2.7. 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 reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9. Debtors and Creditors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the

effective interest method, less any impairment.

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method.

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Light Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.10. Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2.11. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	750,000

As at 31 March 2025	750,000

Amortisation
As at 1 April 2024	750,000

As at 31 March 2025	750,000

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 April 2024	136,970	113,063	72,377	1,887	324,297
Additions	-	-	-	784	784

As at 31 March 2025	136,970	113,063	72,377	2,671	325,081

Depreciation
As at 1 April 2024	-	66,827	21,970	1,684	90,481
Provided during the period	-	13,170	18,094	164	31,428

As at 31 March 2025	-	79,997	40,064	1,848	121,909

Net Book Value
As at 31 March 2025	136,970	33,066	32,313	823	203,172

As at 1 April 2024	136,970	46,236	50,407	203	233,816

6. Stocks

	31 March 2025	31 March 2024
	£	£
Stock	766,425	380,112

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Light Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Debtors

	31 March 2025	31 March 2024
	£	£
Due within one year
Prepayments and accrued income	18,554	13,825
Other debtors	4,650	4,910
Amounts owed by related parties	-	112,116
VAT	5,166	-

	28,370	130,851

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

8. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 March 2024
	£	£
Trade creditors	10,635	27,859
Bank loans and overdrafts	130,660	136,612
Corporation tax	110,786	111,631
VAT	-	12,298
Other creditors	4,067	2,989
Accruals and deferred income	7,400	6,650
Directors' loan accounts	-	3
Amounts owed to group undertakings	496,998	305,206

	760,546	603,248

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

9. Deferred Taxation

The provision for deferred tax is made up as follows:

	31 March 2025	31 March 2024
	£	£
Other timing differences	16,551	24,212

10. Share Capital

	31 March 2025	31 March 2024
	£	£
Allotted, Called up and fully paid	2	2

11. Contingent Liabilities

The company has given gurantees to its bankers in respect of the bank overdraft and loans of Light Group Limited. The total borrowings of Light Group Limited at 31 March 2025 amounted to £5,250,359 (2024:£4,934,021).

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Light Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

12. Related Party Transactions

The company has paid management charges and rent of £795,750 (2024: £596,813) to Light Group Limited.

The company has declared a dividend of £200,000 (2024: £300,000) to Light Group Limited.

Included in creditors:amounts falling due within one year as at 31 March 2025 is £209,110 (2024 debtor: £112,116) due to Light Group Limited.

Included in creditors:amounts falling due within one year as at 31 March 2025 is £287,888 (2024: £305,206) due to Lights Parks and Leisure LLP.

13. Ultimate Controlling Party

The company is a wholly owned subsidiary company of Light Group Limited, a company incorporated in England and Wales, owned by Light Uk Holdings Limited which is owned and controlled by Mr D F Light, Mrs M T Light, Mr D H Light and Mr F R R Light.

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		31 March 2025		31 March 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		203,172		233,816

			203,172		233,816
CURRENT ASSETS
Stocks	6	766,425		380,112
Debtors	7	28,370		130,851

		794,795		510,963
Creditors: Amounts Falling Due Within One Year	8	(760,546 )		(603,248 )

NET CURRENT ASSETS (LIABILITIES)			34,249		(92,285 )

TOTAL ASSETS LESS CURRENT LIABILITIES			237,421		141,531

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(16,551 )		(24,212 )

NET ASSETS			220,870		117,319

CAPITAL AND RESERVES
Called up share capital	10		2		2
Profit and Loss Account			220,868		117,317

SHAREHOLDERS' FUNDS			220,870		117,319