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2021-09-01
Sage Accounts Production Advanced 2021 - FRS102_2021
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xbrli:shares
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03945496
2021-09-01
2022-08-31
03945496
2022-08-31
03945496
2021-08-31
03945496
2020-09-01
2021-08-31
03945496
2021-08-31
03945496
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2021-09-01
2022-08-31
03945496
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2022-08-31
03945496
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2022-08-31
03945496
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2022-08-31
03945496
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2022-08-31
03945496
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03945496
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03945496
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03945496
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03945496
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2022-08-31
03945496
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03945496
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03945496
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03945496
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03945496
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03945496
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03945496
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2021-08-31
03945496
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03945496
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2022-08-31
03945496
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03945496
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2021-08-31
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2022-08-31
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2021-09-01
2022-08-31
COMPANY REGISTRATION NUMBER:
03945496
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
YEAR ENDED 31st AUGUST 2022
Officers and professional advisers |
1 |
|
|
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements |
2 |
|
|
Statement of financial position |
3 |
|
|
Notes to the financial statements |
5 |
|
|
OFFICERS AND PROFESSIONAL ADVISERS |
|
COMPANY SECRETARY |
D Tyson |
|
|
REGISTERED OFFICE |
475 Salisbury House |
|
London Wall |
|
London |
|
EC2M 5QQ |
|
|
ACCOUNTANTS |
Colne Valley Business Services LLP t/a Cloke & Co |
|
Chartered Certified Accountants |
|
475 Salisbury House |
|
London Wall |
|
London |
|
EC2M 5QQ |
|
|
BANKERS |
Barclays Bank plc |
|
78 Turners Hill |
|
Cheshunt |
|
Hertfordshire |
|
EN8 9BW |
|
|
CHARTERED CERTIFIED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
PT LIGHTING LIMITED |
|
YEAR ENDED 31st AUGUST 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PT Lighting Limited for the year ended 31st August 2022, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of PT Lighting Limited in accordance with the terms of our engagement letter dated 1st August 2017. Our work has been undertaken solely to prepare for your approval the financial statements of PT Lighting Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PT Lighting Limited and its director for our work or for this report.
It is your duty to ensure that PT Lighting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PT Lighting Limited. You consider that PT Lighting Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of PT Lighting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Colne Valley Business Services LLP t/a Cloke & Co
Chartered Certified Accountants
475 Salisbury House
London Wall
London
EC2M 5QQ
17 May 2023
STATEMENT OF FINANCIAL POSITION |
|
31 August 2022
FIXED ASSETS
Tangible assets |
5 |
|
580 |
682 |
|
|
|
|
|
CURRENT ASSETS
Debtors |
6 |
8,095 |
|
18,471 |
Cash at bank and in hand |
25,848 |
|
16,418 |
|
-------- |
|
-------- |
|
33,943 |
|
34,889 |
|
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
27,136 |
|
27,646 |
|
-------- |
|
-------- |
NET CURRENT ASSETS |
|
6,807 |
7,243 |
|
|
------- |
------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
7,387 |
7,925 |
|
|
------- |
------- |
NET ASSETS |
|
7,387 |
7,925 |
|
|
------- |
------- |
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
7,287 |
7,825 |
|
|
------- |
------- |
SHAREHOLDER FUNDS |
|
7,387 |
7,925 |
|
|
------- |
------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 August 2022
These financial statements were approved by the
board of directors
and authorised for issue on
26 April 2023
, and are signed on behalf of the board by:
Company registration number:
03945496
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31st AUGUST 2022
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 475 Salisbury House, London Wall, London, EC2M 5QQ.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
ACCOUNTING POLICIES
BASIS OF PREPARATION
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
REVENUE RECOGNITION
The turnover shown in the profit and loss account represents the value of sales, exclusive of Value Added Tax.
INCOME TAX
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes In general, deferred taxation is recognised in respect of all timing differences that have originated, but not reversed, at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more likely than not there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. In accordance with FRS19, deferred tax is not recognised on revaluation gains. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
TANGIBLE ASSETS
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
DEPRECIATION
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Leasehold Improvements |
- |
Over 10 years
|
|
Plant and machinery |
- |
15% reducing balance |
|
|
|
|
GOVERNMENT GRANTS
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
FINANCIAL INSTRUMENTS
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
1
(2021:
1
).
5.
TANGIBLE ASSETS
|
Land and buildings |
Plant and machinery |
Total |
|
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
At 1st September 2021 and 31st August 2022 |
14,595 |
17,776 |
32,371 |
|
-------- |
-------- |
-------- |
Depreciation |
|
|
|
At 1st September 2021 |
14,594 |
17,095 |
31,689 |
Charge for the year |
– |
102 |
102 |
|
-------- |
-------- |
-------- |
At 31st August 2022 |
14,594 |
17,197 |
31,791 |
|
-------- |
-------- |
-------- |
Carrying amount |
|
|
|
At 31st August 2022 |
1 |
579 |
580 |
|
-------- |
-------- |
-------- |
At 31st August 2021 |
1 |
681 |
682 |
|
-------- |
-------- |
-------- |
|
|
|
|
6.
DEBTORS
Trade debtors |
6,595 |
18,471 |
Other debtors |
1,500 |
– |
|
------- |
-------- |
|
8,095 |
18,471 |
|
------- |
-------- |
|
|
|
7.
CREDITORS:
amounts falling due within one year
Trade creditors |
8,827 |
2,343 |
Corporation tax |
8,269 |
12,663 |
Social security and other taxes |
7,710 |
6,060 |
Short term loans |
– |
3,500 |
Other creditors |
2,330 |
3,080 |
|
-------- |
-------- |
|
27,136 |
27,646 |
|
-------- |
-------- |
|
|
|
8.
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
|
2022 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
|
|
£ |
£ |
£ |
£ |
|
|
|
|
|
|
P E Tyson |
(
1,280) |
35,850 |
(
35,000) |
(
430) |
|
------- |
-------- |
-------- |
---- |
|
|
|
|
|
|
2021 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
|
|
£ |
£ |
£ |
£ |
|
|
|
|
|
|
P E Tyson |
13,956 |
42,260 |
(
57,496) |
(
1,280) |
|
-------- |
-------- |
-------- |
------- |
|
|
|
|
|
9.
RELATED PARTY TRANSACTIONS
The company was under the control of PE Tyson throughout the current and previous year. PE Tyson is the director and majority shareholder. During the year PE Tyson received dividends from the company of £35,000 (2021 - £45,000) by virtue of his shareholding in the company.