PS Lighting Solutions Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 05486219 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2022

for

PS Lighting Solutions Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

S Samuel

P Samuel

Secretary:

Mrs C M Samuel

Registered office:

37 Oxford Street

Pontycymmer

Bridgend

CF32 8DD

Registered number:

05486219 (England and Wales)

Accountants:

Curtis Bowden & Thomas Limited

Chartered Certified Accountants

9 Court Road

Bridgend

CF31 1BE

Fixed assets

Tangible assets

4

23,594

31,459

Current assets

Stocks

15,000

7,000

Debtors

5

164,144

152,169

Cash at bank and in hand

132,620

154,778

311,764

313,947

Creditors

Amounts falling due within one year

6

191,098

155,051

Net current assets

120,666

158,896

Total assets less current liabilities

144,260

190,355

Creditors

Amounts falling due after more than one year

7

11,643

29,439

Net assets

132,617

160,916

Capital and reserves

Called up share capital

102

102

Retained earnings

132,515

160,814

Shareholders' funds

132,617

160,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 3 February 2023 and were signed on its behalf by:

P Samuel - Director

S Samuel - Director

1.	Statutory information

PS 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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 8 (2021 - 8 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 July 2021

and 30 June 2022

119,368

Depreciation

At 1 July 2021

87,909

Charge for year

7,865

At 30 June 2022

95,774

Net book value

At 30 June 2022

23,594

At 30 June 2021

31,459

5.

Debtors: amounts falling due within one year

30.6.22

30.6.21

£

£

Trade debtors

77,662

94,929

Other debtors

86,482

57,240

164,144

152,169

6.

Creditors: amounts falling due within one year

30.6.22

30.6.21

£

£

Trade creditors

117,640

113,879

Taxation and social security

46,715

28,362

Other creditors

26,743

12,810

191,098

155,051

7.

Creditors: amounts falling due after more than one year

30.6.22

30.6.21

£

£

Hire purchase contracts

11,643

29,439