Company Registration No. 05733082 (England and Wales)
Lightpath IT Ltd
Unaudited accounts
for the year ended 31 March 2023
Lightpath IT Ltd
Unaudited accounts
Contents
Lightpath IT Ltd
Company Information
for the year ended 31 March 2023
Directors
Martin Cuthbert
Steven Rumble
Company Number
05733082 (England and Wales)
Registered Office
2 Gifford Place
Warley
Brentwood
Essex
CM14 5UD
Accountants
Fox Accountancy Limited
88 Corbets Tey Road
Upminster
Essex
RM14 2BA
Lightpath IT Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
37,057
11,460
Cash at bank and in hand
260,818
238,504
Creditors: amounts falling due within one year
(69,610)
(55,625)
Net current assets
270,744
243,438
Net assets
307,801
254,898
Called up share capital
100
100
Profit and loss account
307,701
254,798
Shareholders' funds
307,801
254,898
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2023 and were signed on its behalf by
Martin Cuthbert
Director
Company Registration No. 05733082
Lightpath IT Ltd
Notes to the Accounts
for the year ended 31 March 2023
Lightpath IT Ltd is a private company, limited by shares, registered in England and Wales, registration number 05733082. The registered office is 2 Gifford Place, Warley, Brentwood, Essex, CM14 5UD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Motor vehicles
25% straight line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Lightpath IT Ltd
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2022
51,713
13,860
65,573
Additions
7,032
34,627
41,659
At 31 March 2023
58,417
48,487
106,904
At 1 April 2022
40,253
13,860
54,113
Charge for the year
7,241
8,657
15,898
At 31 March 2023
47,330
22,517
69,847
At 31 March 2023
11,087
25,970
37,057
At 31 March 2022
11,460
-
11,460
Amounts falling due within one year
Trade debtors
77,615
59,882
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
2,627
-
Trade creditors
17,087
8,142
Taxes and social security
34,110
43,317
Loans from directors
-
3,131
7
Average number of employees
During the year the average number of employees was 4 (2022: 5).
