1 true false false false false false false false false false true false false false false false false No description of principal activity 2021-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 75 75 75 xbrli:pure xbrli:shares iso4217:GBP 12892829 2021-10-01 2023-03-31 12892829 2023-03-31 12892829 2021-09-30 12892829 2020-09-21 2021-09-30 12892829 2021-09-30 12892829 2020-09-20 12892829 bus:Director1 2021-10-01 2023-03-31 12892829 core:WithinOneYear 2023-03-31 12892829 core:WithinOneYear 2021-09-30 12892829 core:ShareCapital 2023-03-31 12892829 core:ShareCapital 2021-09-30 12892829 core:RetainedEarningsAccumulatedLosses 2023-03-31 12892829 core:RetainedEarningsAccumulatedLosses 2021-09-30 12892829 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-03-31 12892829 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 12892829 core:Non-currentFinancialInstruments 2023-03-31 12892829 bus:SmallEntities 2021-10-01 2023-03-31 12892829 bus:AuditExemptWithAccountantsReport 2021-10-01 2023-03-31 12892829 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2023-03-31 12892829 bus:PrivateLimitedCompanyLtd 2021-10-01 2023-03-31 12892829 bus:FullAccounts 2021-10-01 2023-03-31
COMPANY REGISTRATION NUMBER: 12892829
LSB Market Ltd
Filleted Unaudited Financial Statements
31 March 2023
LSB Market Ltd
Statement of Financial Position
31 March 2023
31 Mar 23
30 Sep 21
Note
£
£
£
Fixed assets
Investments
5
75
Current assets
Stocks
22,645
14,281
Debtors
6
7,260
4,033
Cash at bank and in hand
3,943
2,550
--------
--------
33,848
20,864
Creditors: amounts falling due within one year
7
29,274
15,675
--------
--------
Net current assets
4,574
5,189
-------
-------
Total assets less current liabilities
4,649
5,189
-------
-------
Net assets
4,649
5,189
-------
-------
Capital and reserves
Called up share capital
3
3
Profit and loss account
4,646
5,186
-------
-------
Shareholders funds
4,649
5,189
-------
-------
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 comprehensive income has not been delivered.
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
LSB Market Ltd
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 21 September 2023 , and are signed on behalf of the board by:
Mr L Banaszkiewicz
Director
Company registration number: 12892829
LSB Market Ltd
Notes to the Financial Statements
Period from 1 October 2021 to 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 33 Victory Way, Cottenham, Cambridge, CB24 8TG.
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
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
The Company holds a 75% equity interest in Edeibert Limited a newly formed subsidiary with similar trading activities
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2021: Nil).
5. Investments
Shares in group undertakings
£
Cost
At 1 October 2021
Additions
75
----
At 31 March 2023
75
----
Impairment
At 1 October 2021 and 31 March 2023
----
Carrying amount
At 31 March 2023
75
----
At 30 September 2021
----
6. Debtors
31 Mar 23
30 Sep 21
£
£
Trade debtors
4,578
733
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,682
Other debtors
3,300
-------
-------
7,260
4,033
-------
-------
7. Creditors: amounts falling due within one year
31 Mar 23
30 Sep 21
£
£
Trade creditors
186
194
Corporation tax
1,217
Social security and other taxes
7,832
Other creditors
21,256
14,264
--------
--------
29,274
15,675
--------
--------