Lightcredit Holdings (2022) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 13860342 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Lightcredit Holdings (2022) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss L N Hymanson

Miss C R Hymanson

REGISTERED OFFICE:

Freedman Frankl And Taylor

Reedham House

31 King Street West

Manchester

M3 2PJ

BUSINESS ADDRESS:

186/188 Cheetham Hill Road

Manchester

M8 8LW

REGISTERED NUMBER:

13860342 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Investments

4

5,025,000

5,025,000

CURRENT ASSETS

Debtors

5

27,443

-

CREDITORS

Amounts falling due within one year

6

1,154,391

2,174,948

NET CURRENT LIABILITIES

(1,126,948

)

(2,174,948

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,898,052

2,850,052

CREDITORS

Amounts falling due after more than one year

7

1,900,000

2,850,000

NET ASSETS

1,998,052

52

CAPITAL AND RESERVES

Called up share capital

52

52

Retained earnings

1,998,000

-

1,998,052

52

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 18 March 2024 and were signed on its behalf by:

Miss C R Hymanson - Director

1.	STATUTORY INFORMATION

Lightcredit Holdings (2022) 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about Lightcredit Holdings (2022) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Going concern

The companies financial statements for the year ended 30 June 2023 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2022

and 30 June 2023

5,025,000

NET BOOK VALUE

At 30 June 2023

5,025,000

At 30 June 2022

5,025,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Amounts owed by group undertakings

27,443

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Amounts owed to group undertakings

-

1,063,335

Other creditors

1,154,391

1,111,613

1,154,391

2,174,948

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Other creditors

1,900,000

2,850,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30 June 2023, other creditors included £246,448 (2022: £246,948) in respect of the directors current accounts. There are no fixed repayment terms and are interest free.

9.	RELATED PARTY DISCLOSURES

At 30 June 2023, other creditors included £2,807,943 (2022: £3,714,665) owed to the parents of the directors.

10.	ULTIMATE CONTROLLING PARTY