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Registered number: 03677267 THE DAYLIGHT COMPANY LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
THE DAYLIGHT COMPANY LIMITED REGISTERED NUMBER: 03677267 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 5 |  | 124,969 |  | 224,707
Tangible assets | 6 |  | 10,859 |  | 7,310
|  |  | 135,828 |  | 232,017
Current assets |  |  |  |  |
Stocks | 7 | 1,232,237 |  | 1,243,325 |
Debtors: amounts falling due within one year | 8 | 824,276 |  | 841,051 |
Cash at bank and in hand |  | 1,754,900 |  | 1,071,617 |
|  | 3,811,413 |  | 3,155,993 |
Creditors: amounts falling due within one year | 9 | (1,402,916) |  | (981,831) |
Net current assets |  |  | 2,408,497 |  | 2,174,162
Total assets less current liabilities |  |  | 2,544,325 |  | 2,406,179
Creditors: amounts falling due after more than one year | 10 |  | - |  | (20,833)
Provisions for liabilities |  |  |  |  |
Other provisions | 11 | (48,355) |  | (44,331) |
|  |  | (48,355) |  | (44,331)
Net assets |  |  | 2,495,970 |  | 2,341,015
Capital and reserves |  |  |  |  |
Called up share capital | 12 |  | 206,156 |  | 206,156
Profit and loss account |  |  | 2,289,814 |  | 2,134,859
|  |  | 2,495,970 |  | 2,341,015
Page 1
THE DAYLIGHT COMPANY LIMITED REGISTERED NUMBER: 03677267 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025 The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ S Das
Director
Date: 2 July 2026
The notes on pages 3 to 11 form part of these financial statements. Page 2
THE DAYLIGHT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
The Daylight Company Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is 89-91 Scrubs Lane, London, NW10 6QU. The functional and presentational currency of the company is the pound sterling and the financial statements are rounded to the nearest £1. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on a going concern basis. The Directors have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment for a period of at least twelve months from the date of approval of these financial statements. Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that the Company can continue to adopt the going concern basis in preparing the annual report and financial statements.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 3
THE DAYLIGHT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.8 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 4
THE DAYLIGHT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.9 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.10 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Computer software is amortised over the length of the licence, this being 3 years. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.11 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:
|  |  |  | Fixtures, fittings and office equipment | - | 15% reducing balance or 3 years straight line
|  |  |  | Computer equipment | - | 3 years straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.12 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to sell. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to sell. The impairment loss is recognised immediately in profit or loss. Page 5
THE DAYLIGHT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.13 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.14 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.15 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.16 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
Preparation of the financial statements requires management to make significant judgments and estimates. The items in the financial statements where these judgments and estimates have been made include: Warranty provision Provision is made for the cost of faulty goods that are returned to the company where they are covered by a warranty period. Management applies judgment in assessing the value based on levels of returns in previous years and the costs associated with making good this commitment. Slow moving and obsolescence of stocks Management reviews stock to assess if any provision for slow moving or obsolete stock is appropriate based on their knowledge and experience of the business and future customer orders.
4. | Employees
| The average monthly number of employees, including directors, during the year was 22 (2024 - 28).
Page 6
THE DAYLIGHT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Intangible assets
|  | Computer software
|  | £
| Cost |
| At 1 January 2025 | 465,707
| Additions | 13,554
| At 31 December 2025 | 479,261
| Amortisation |
| At 1 January 2025 | 241,000
| Charge for the year | 113,292
| At 31 December 2025 | 354,292
| Net book value |
| At 31 December 2025 | 124,969
| At 31 December 2024 | 224,707
Page 7
THE DAYLIGHT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | Tangible fixed assets
|  | Fixtures, fittings and office equipment | Computer equipment | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 January 2025 | 56,839 | 44,434 | 101,273
| Additions | 3,635 | 4,826 | 8,461
| At 31 December 2025 | 60,474 | 49,260 | 109,734
| Depreciation |  |  |
| At 1 January 2025 | 56,839 | 37,124 | 93,963
| Charge for the year | 422 | 4,490 | 4,912
| At 31 December 2025 | 57,261 | 41,614 | 98,875
| Net book value |  |  |
| At 31 December 2025 | 3,213 | 7,646 | 10,859
| At 31 December 2024 | - | 7,310 | 7,310
7. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Goods for resale | 1,232,237 | 1,243,325
Page 8
THE DAYLIGHT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 680,832 | 642,180
| Amounts owed by group undertakings | - | 135,032
| Other debtors | 57,323 | 26,569
| Prepayments and accrued income | 86,121 | 37,270
|  | 824,276 | 841,051
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 1,281 | -
| Bank loans | 20,833 | 50,000
| Trade creditors | 648,810 | 477,865
| Amounts owed to group undertakings | 214,164 | 82,094
| Corporation tax | - | 51,751
| Other taxation and social security | 156,867 | 115,171
| Other creditors | 31,251 | 22,212
| Accruals and deferred income | 329,710 | 182,738
|  | 1,402,916 | 981,831
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 20,833
|  | - | 20,833
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THE DAYLIGHT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
11. | Provisions
|  | Warranty provision
|  | £
| At 1 January 2025 | 44,331
| Charged to profit or loss | 4,024
| At 31 December 2025 | 48,355
12. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 206,156 (2024 - 206,156) ordinary shares of £1.00 each | 206,156 | 206,156
13. | Pension commitments
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The contributions payable by the Company to the fund amounted to £28,299 (2024 - £27,312). Contributions totalling £7,092 (2024 - £6,589) were payable to the fund at the reporting date and are included in creditors.
14. | Commitments under operating leases
| At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 115,001 | 69,972
| Later than 1 year and not later than 5 years | 9,339 | -
|  | 124,340 | 69,972
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THE DAYLIGHT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
15. | Related party transactions
| At the balance sheet date £Nil (2024 - £Nil) was due from P H Jacquelin, a director of the company. Interest at a rate of 8% per annum, was charged on this loan in the year and amounted to £Nil (2024 - £10,032). In addition to this, the company rents property from P H Jacquelin for £57,500 (2024 - £57,500) per annum. The company has taken the exemption available in FRS 102 1A.33 not to disclose balances and transactions entered into between two or more members of the group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.
16. | Controlling party
The immediate controlling parent company is The Daylight Company (Holdings) Limited, a company registered in England and Wales in the United Kingdom. The ultimate controlling party is P H Jacquelin. The parent undertaking is exempt from the requirement to prepare consolidated financial statements on the basis that the group qualifies as a small group.
17. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 3 July 2026 by Neil Stern FCA (Senior Statutory Auditor) on behalf of MHA.
Page 11