Lighting Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09198716 (England and Wales)

Unaudited Financial Statements for the Year Ended 30th September 2019

for

Lighting Solutions Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr H V Hird

REGISTERED OFFICE:

Redbarn Unit 5 Rupert Park London Road So

Poynton

Stockport

SK12 1PQ

REGISTERED NUMBER:

09198716 (England and Wales)

ACCOUNTANTS:

Howards Accountants

Suite 17

Camborne Business Centre

Weeth Lane

Camborne

Cornwall

TR14 7DB

FIXED ASSETS

Intangible assets

4

37,500

37,500

Tangible assets

5

214

457

37,714

37,957

CURRENT ASSETS

Stocks

6

9,250

6,250

Debtors

7

7,099

11,503

Cash at bank and in hand

266

295

16,615

18,048

CREDITORS

Amounts falling due within one year

8

31,320

45,853

NET CURRENT LIABILITIES

(14,705

)

(27,805

)

TOTAL ASSETS LESS CURRENT LIABILITIES

23,009

10,152

CREDITORS

Amounts falling due after more than one year

9

8,585

-

NET ASSETS

14,424

10,152

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

14,422

10,150

SHAREHOLDERS' FUNDS

14,424

10,152

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2019 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 on 1st April 2020 and were signed by:

Mr H V Hird - Director

1.	STATUTORY INFORMATION

Lighting Solutions Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Computer equipment

-

straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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 1 (2018 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st October 2018

and 30th September 2019

37,500

NET BOOK VALUE

At 30th September 2019

37,500

At 30th September 2018

37,500

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st October 2018

and 30th September 2019

730

DEPRECIATION

At 1st October 2018

273

Charge for year

243

At 30th September 2019

516

NET BOOK VALUE

At 30th September 2019

214

At 30th September 2018

457

6.

STOCKS

2019

2018

£

£

Stocks

9,250

6,250

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

7,099

11,503

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts (see note 10)

10,020

-

Trade creditors

7,180

7,597

Tax

1,263

2,615

VAT

1,012

286

Other creditors

4,865

30,801

Credit card

3,003

-

Directors' current accounts

3,477

3,954

Accruals and deferred income

500

600

31,320

45,853

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans (see note 10)

8,585

-

10.

LOANS

An analysis of the maturity of loans is given below:

2019

2018

£

£

Amounts falling due within one year or on demand:

Bank loans

10,020

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

8,585

-

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

2p

2

2