Company registration number 07850441 (England and Wales)
THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 12
THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
5
45,104
67,657
Tangible assets
6
950,346
1,268,067
Investment property
7
600,000
287,500
Investments
8
1,001
1,001
1,596,451
1,624,225
Current assets
Debtors
9
445,021
624,093
Cash at bank and in hand
730,667
1,009,257
1,175,688
1,633,350
Creditors: amounts falling due within one year
11
(1,167,946)
(1,629,071)
Net current assets
7,742
4,279
Total assets less current liabilities
1,604,193
1,628,504
Creditors: amounts falling due after more than one year
12
(140,171)
(144,826)
Net assets
1,464,022
1,483,678
Reserves
Income and expenditure account
1,464,022
1,483,678
Total members' funds
1,464,022
1,483,678

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

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 July 2026 and are signed on its behalf by:
Mr D Barnwell
Director
Company registration number 07850441 (England and Wales)
THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Income and expenditure
£
As restated for the period ended 31 December 2024:
Balance at 1 January 2024
727,504
Year ended 31 December 2024:
Surplus and total comprehensive income
756,174
Balance at 31 December 2024
1,483,678
Year ended 31 December 2025:
Deficit and total comprehensive income
(19,656)
Balance at 31 December 2025
1,464,022
THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

The Lighting Industry Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Stafford Park 7, Telford, Shropshire, TF3 3BQ.

1.1
Basis of preparation

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 the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Income is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover 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.

Income from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably.

- it is probable that the company will receive the consideration due under the contract

- the stage of completion of the contract at the end of the reporting period can be measured reliably

- the costs incurred and the costs to complete the contract can be measured reliably.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

CRM Website
25% Straight line
THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases (excluding land which is not depreciated):

Freehold land and buildings
2% straight line on the impaired value
Plant and equipment
10% - 25% straight line
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities 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 surplus or deficit.

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.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.8
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.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
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.

THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -

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.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in surplus or deficit in the period in which it arises.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases
As lessor

When the company acts as a lessor, a lease is classified as a finance lease whenever it transfers substantially all the risks and rewards of ownership of the underlying asset to the lessee, either at the end of the lease term or for the major part of the economic life of the asset. All other leases are classified as operating leases. If an arrangement contains both lease and non-lease components, the company allocates the consideration in the contract to the two elements.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 7 -
1.15
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

1.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Useful economic lives of non-current assets

The useful economic lives of non-current assets have been derived from the judgement of the directors, using their best estimate of the write-down period.

Grant income

Grant income has been recognised under the accruals model. Grants relating to expenditure on tangible fixed assets are credited to the profit or loss at the same rate as the depreciation on on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Bad debt provision

Having taken into consideration the historic and current level of bad debts, the directors consider it appropriate to have a bad debt provision in place which is calculated based on the ageing of debts (being debts older than 6 months). The relevant figure is then adjusted accordingly, if it is considered necessary, as a result of significant bad debts and/or due to underlying economic conditions which suggest a higher than normal risk of bad debts.

Provisions - other than bad debts

In recognising provisions, the company evaluates the extent to which it is probable that it has incurred a legal or constructive obligation in respect of past events and the probability that there will be an outflow of benefits as a result. The judgments used to recognise provisions are based on currently known factors which may vary over time. The level of provisions is estimated by the management taking into consideration all available information at the reporting date.

Freehold property valuation

Freehold properties are measured at market value, which is not considered to be materially different from the

fair value, at the year end date. The directors estimate the market value of the properties at each year end

taking into consideration the underlying market conditions and evidence of transaction prices for similar

properties in the area.

Investment properties

Investment properties are measured at market value, which is not considered to be materially different from the fair value, at the year end date. The directors estimate the market value of the properties at each year end taking into consideration the underlying market conditions and evidence of transaction prices for similar properties in the area.

THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
3
Employees

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

2025
2024
Number
Number
Total
19
19
4
Directors' remuneration
2025
2024
£
£
Remuneration paid to directors
152,986
165,181
5
Intangible fixed assets
Website
£
Cost
At 1 January 2025 as restated additions
90,210
Amortisation and impairment
At 1 January 2025 as restated
22,553
Amortisation charged for the year
22,553
At 31 December 2025
45,106
Carrying amount
At 31 December 2025
45,104
At 31 December 2024 as restated
67,657

The opening balances of tangible and intangible fixed assets were restated in the current year to reclassify website costs and accumulated amortisation of £90,210 and £22,553 respectively from tangible fixed assets to intangible assets. This restatement better reflects the nature of the expenditure and has no impact on prior year profit or accumulated reserves.

THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
6
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2025 as restated
2,453,115
1,414,510
3,867,625
Additions
-
0
49,432
49,432
Transfers
(287,500)
-
0
(287,500)
At 31 December 2025
2,165,615
1,463,942
3,629,557
Depreciation and impairment
At 1 January 2025 as restated
1,290,465
1,309,093
2,599,558
Depreciation charged in the year
26,013
63,703
89,716
Transfers
(10,063)
-
0
(10,063)
At 31 December 2025
1,306,415
1,372,796
2,679,211
Carrying amount
At 31 December 2025
859,200
91,146
950,346
At 31 December 2024 as restated
1,162,650
105,417
1,268,067

For the details of the restatement to the computer opening balances refer to note 5.

7
Investment property
2025
£
Fair value
At 1 January 2025
287,500
Transfers
277,438
Fair value uplift
35,062
At 31 December 2025
600,000

The company rents out the property to a third party and therefore the building is held as investment property. The property was held at a carrying value of £564,938 at the year end.

A third party valuation was obtained at 31 December 2025, which gave a fair value of £600,000, resulting in a fair value uplift of £35,062 recognised in the accounts.

8
Fixed asset investments
2025
2024
£
£
Investment in subsidiary undertakings
1,001
1,001
THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
9
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
341,991
518,441
Other debtors
103,030
105,652
445,021
624,093
10
Subsidiaries

Details of the company's subsidiaries at 31 December 2025 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Sustainalite Limited
1
Ordinary
100.00
LIA Laboratories Limited
1
Ordinary
100.00
Lumicom Limited
1
Limited by guarantee
100.00
The Lighting Association Limited
1
Limited by guarantee
100.00

Registered office addresses (all UK unless otherwise indicated):

1
Stafford Park 7, Telford, Shropshire, TF3 3BQ
11
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
108,390
139,576
Taxation and social security
188,400
159,325
Other creditors
871,156
1,330,170
1,167,946
1,629,071
12
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
140,171
144,826
THE LIGHTING INDUSTRY ASSOCIATION LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
13
Operating lease commitments

Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2025
2024
Future amounts receivable under operating leases:
£
£
Total Commitments
116,250
32,792
14
Members' liability

The company is limited by guarantee and does not have share capital and consequently the liability its of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

15
Events after the reporting date

Prior to the reporting date, the d irectors had resolved to wind up the c ompany’s wholly‑owned subsidiary, Lumicom. The subsidiary had ceased trading, and all intercompany balances, including the intercompany loan, were written off in the 2023 year. As a result, no further financial impact arises from the winding‑up.

Although the formal liquidation steps occurred after the reporting date, the decision and underlying conditions existed at 31 December 2025. In accordance with IAS 10 Events After the Reporting Period, this is considered an adjusting event. The financial statements have been assessed accordingly, and no adjustments were required.

16
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its deficit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Samantha Daniels
Statutory Auditor:
Shaw Gibbs (Audit) Limited
Date of audit report:
10 July 2026
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