Company registration number 15743874 (England and Wales)
LIGHT THEORY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
PAGES FOR FILING WITH REGISTRAR
LIGHT THEORY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LIGHT THEORY LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2025
30 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
3
482,926
354,492
Current assets
Cash at bank and in hand
29,803
49,905
Creditors: amounts falling due within one year
4
(4,991)
-
0
Net current assets
24,812
49,905
Total assets less current liabilities
507,738
404,397
Provisions for liabilities
-
(1,328)
Net assets
507,738
403,069
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
507,538
402,869
Total equity
507,738
403,069

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 31 May 2026
Mr R Newman
Director
Company registration number 15743874 (England and Wales)
LIGHT THEORY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 2 -
1
Accounting policies
Company information

Light Theory Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

1.1
Reporting period

These financial statements are for the year ended 30 November 2025. The comparative period is the period from 26 May to 30 November 2024.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include fixed asset investments (other than interests in subsidiaries, associates and jointly controlled entities) at fair value. The principal accounting policies adopted are set out below.

1.3
Fixed asset investment - subsidiary

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4

Other fixed asset investments

Other fixed asset investments are initially recognised at cost (which includes the purchase cost and any directly attributable expenditure) and subsequently measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the investment is sold

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

LIGHT THEORY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
3
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
100
100
Other investments other than loans
482,826
354,392
482,926
354,492
Fixed asset investments revalued

Other fixed asset investments include a vintage commercial vehicle at fair value of £14,950, as estimated by the director by reference to market evidence of transaction prices for similar vehicles.

Other fixed assets investments comprise securities in an investment portfolio and interests in property investment limited liability partnerships. The fair values of these assets are identified from market information provided by the asset manager.

LIGHT THEORY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 December 2024
100
354,392
354,492
Additions
-
784,666
784,666
Valuation changes
-
(3,532)
(3,532)
Disposals
-
(652,700)
(652,700)
At 30 November 2025
100
482,826
482,926
Carrying amount
At 30 November 2025
100
482,826
482,926
At 30 November 2024
100
354,392
354,492
4
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
711
-
0
Other creditors
4,280
-
0
4,991
-
0
5
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Advances
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
One director
2.25
-
202,500
858
(206,000)
(2,642)
-
202,500
858
(206,000)
(2,642)
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