REGISTERED NUMBER: 03843191 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 DECEMBER 2024

FOR

LIGHTNING LOOMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I C Grant

REGISTERED OFFICE:

Unit 10, WHite House Farm

Oxford Road

Princethorpe

Rugby

Warwickshire

CV23 9QD

REGISTERED NUMBER:

03843191 (England and Wales)

BANKERS:

Lloyds Bank PLC

73 The Parade

Leamington Spa

Warwickshire

CV32 4BB

FIXED ASSETS

Intangible assets

4

7,500

7,500

Tangible assets

5

1,112

1,308

8,612

8,808

CURRENT ASSETS

Debtors

6

96,334

117,392

Cash at bank

21,727

172

118,061

117,564

CREDITORS

Amounts falling due within one year

7

61,469

94,759

NET CURRENT ASSETS

56,592

22,805

TOTAL ASSETS LESS CURRENT LIABILITIES

65,204

31,613

CREDITORS

Amounts falling due after more than one year

8

1,666

5,666

NET ASSETS

63,538

25,947

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

63,438

25,847

SHAREHOLDERS' FUNDS

63,538

25,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 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 27 October 2025 and were signed by:

I C Grant - Director

1.	STATUTORY INFORMATION

Lightning Looms 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

The financial statements are presented in sterling which is the functional currency of the company and is rounded to the nearest £1.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Intangible assets

Patents and licences are initially measured at cost. After initial recognition, intangible assets are measured at fair value . The directors consider that the open market value of the patents and licences is materially equal to the cost incurred on purchase.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings

-

15% on reducing balance

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 balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 30 December 2023

and 29 December 2024

7,500

NET BOOK VALUE

At 29 December 2024

7,500

At 29 December 2023

7,500

5.	TANGIBLE FIXED ASSETS

Fixtures

& fittings

£

COST

At 30 December 2023

and 29 December 2024

7,361

DEPRECIATION

At 30 December 2023

6,053

Charge for year

196

At 29 December 2024

6,249

NET BOOK VALUE

At 29 December 2024

1,112

At 29 December 2023

1,308

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

3,251

9,036

Other debtors

93,083

108,356

96,334

117,392

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

4,000

4,000

Taxation and social security

52,892

84,582

Other creditors

4,577

6,177

61,469

94,759

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

1,666

5,666

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 December 2024 and 29 December 2023:

2024

2023

£

£

I C Grant

Balance outstanding at start of year

84,259

100,346

Amounts advanced

2,749

19,900

Amounts repaid

(18,022

)

(35,987

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

68,986

84,259

11.	CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.