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Unaudited Financial Statements for the Year Ended 31 August 2021 |
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INVERSE LIGHTING DESIGN LTD. |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 August 2021 |
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for |
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INVERSE LIGHTING DESIGN LTD. |
INVERSE LIGHTING DESIGN LTD. (REGISTERED NUMBER: 05893919) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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INVERSE LIGHTING DESIGN LTD. |
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Company Information |
for the Year Ended 31 August 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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INVERSE LIGHTING DESIGN LTD. (REGISTERED NUMBER: 05893919) |
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Balance Sheet |
31 August 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 9 |
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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. |
INVERSE LIGHTING DESIGN LTD. (REGISTERED NUMBER: 05893919) |
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Balance Sheet - continued |
31 August 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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INVERSE LIGHTING DESIGN LTD. (REGISTERED NUMBER: 05893919) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2021 |
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1. | STATUTORY INFORMATION |
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Inverse Lighting Design Ltd. is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Going concern |
After reviewing the company's forecasts in the light of the Covid-19 pandemic, the directors have a reasonable expectation |
that the company has adequate resources to continue in operational existence for the foreseeable future.The company, |
therefore, continues to adopt the going concern basis in preparing its financial statements. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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INVERSE LIGHTING DESIGN LTD. (REGISTERED NUMBER: 05893919) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2021 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 September 2020 |
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Additions |
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At 31 August 2021 |
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DEPRECIATION |
At 1 September 2020 |
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Charge for year |
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At 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 September 2020 |
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Disposals | ( |
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At 31 August 2021 |
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DEPRECIATION |
At 1 September 2020 | 7,440 |
Eliminated on disposal | (7,440 | ) |
At 31 August 2021 | - |
NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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INVERSE LIGHTING DESIGN LTD. (REGISTERED NUMBER: 05893919) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax | 823 | 664 |
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Deferred |
tax |
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Balance at 1 September 2020 |
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Charge to Income Statement during year |
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Balance at 31 August 2021 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1 September 2020 |
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Profit for the year |
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Dividends | ( |
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At 31 August 2021 |
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10. | POST BALANCE SHEET EVENTS |
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Inverse Lighting Design provides architectural lighting design services for the high-end retail and hospitality sector. |
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When the pandemic first struck, Inverse was immediately affected by various projects put on hold, which increased uncertainty about the future viability of the business and staffing levels. Projects that did continue, continued at a slower pace, resulting in increased costs and financial delay due to fixed price contracts. It remains difficult to reach potential new clients. |
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Due to staff working from home there was an initial loss in efficiency and moral, regular contact has been paramount and whilst the office has reopened, there has been a flexible approach to working remotely. Previously, due to the Government's job Retention Scheme we were able to retain all staff and not make any redundancies, sadly, as this has been withdrawn, we have had to make one staff member redundant. |