0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 8,106 400 8,506 6,845 642 7,487 1,019 1,261 xbrli:pure xbrli:shares iso4217:GBP 06791616 2022-02-01 2023-01-31 06791616 2023-01-31 06791616 2022-01-31 06791616 2021-02-01 2022-01-31 06791616 2022-01-31 06791616 2021-01-31 06791616 bus:RegisteredOffice 2022-02-01 2023-01-31 06791616 bus:LeadAgentIfApplicable 2022-02-01 2023-01-31 06791616 bus:Director1 2022-02-01 2023-01-31 06791616 bus:Director2 2022-02-01 2023-01-31 06791616 bus:Director3 2022-02-01 2023-01-31 06791616 bus:CompanySecretary1 2022-02-01 2023-01-31 06791616 core:WithinOneYear 2023-01-31 06791616 core:WithinOneYear 2022-01-31 06791616 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-01-31 06791616 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-31 06791616 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-01 2023-01-31 06791616 core:ShareCapital 2023-01-31 06791616 core:ShareCapital 2022-01-31 06791616 core:RetainedEarningsAccumulatedLosses 2023-01-31 06791616 core:RetainedEarningsAccumulatedLosses 2022-01-31 06791616 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-01-31 06791616 bus:SmallEntities 2022-02-01 2023-01-31 06791616 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 06791616 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 06791616 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 06791616 bus:FullAccounts 2022-02-01 2023-01-31 06791616 1 2023-01-31 06791616 1 2022-01-31
COMPANY REGISTRATION NUMBER: 06791616
L S MFG Limited
Filleted Unaudited Financial Statements
31 January 2023
L S MFG Limited
Officers and Professional Advisers
The Board of Directors
Mr D S Mehat
Ms K K Mehat
Mrs B K Mehat
Company Secretary
Mr D S Mehat
Registered Office
29 Waterloo Road
Wolverhampton
West Midlands
England
WV1DJ
Accountants
BK Plus Limited
Chartered accountants
29 Waterloo Road
Wolverhampton
WV1 4DJ
Bankers
Lloyds Bank plc
Queen Square
Wolverhampton
WV1 1TF
L S MFG Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
4
1,019
1,261
Current assets
Stocks
1,280
1,280
Debtors
5
10,185
10,185
Cash at bank and in hand
22,981
22,353
---------
---------
34,446
33,818
Creditors: amounts falling due within one year
6
8,687
13,551
---------
---------
Net current assets
25,759
20,267
---------
---------
Total assets less current liabilities
26,778
21,528
---------
---------
Net assets
26,778
21,528
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
26,678
21,428
---------
---------
Shareholders funds
26,778
21,528
---------
---------
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 31 January 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 year 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 .
L S MFG Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 15 August 2023 , and are signed on behalf of the board by:
Mr D S Mehat
Director
Company registration number: 06791616
L S MFG Limited
Notes to the Financial Statements
Year ended 31 January 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 29 Waterloo Road, Wolverhampton, West Midlands, WV1DJ, England.
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. The financial statements are prepared in sterling, which is the functional currency of the entity. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 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. Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Trade Mark
-
Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
4. Intangible assets
Trade Mark
£
Cost
At 1 February 2022
8,106
Additions
400
---------
At 31 January 2023
8,506
---------
Amortisation
At 1 February 2022
6,845
Charge for the year
642
---------
At 31 January 2023
7,487
---------
Carrying amount
At 31 January 2023
1,019
---------
At 31 January 2022
1,261
---------
5. Debtors
2023
2022
£
£
Trade debtors
405
405
Prepayments and accrued income
180
180
Amounts due from related parties
9,600
9,600
---------
---------
10,185
10,185
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
931
932
Corporation tax
1,382
1,270
Social security and other taxes
1,474
1,549
Director loan accounts
4,900
9,800
---------
---------
8,687
13,551
---------
---------
7. Directors' advances, credits and guarantees
At the end of the financial year the company owed the directors £4,900 (2022: £9,800).
8. Related party transactions
The company trades on normal commercial terms with L S Manufacturing UK Limited, a company controlled by Mr D S Mehat and Mrs B K Mehat , directors of L S MFG Limited . The balance due from L S Manufacturing UK Limited at the balance sheet date was £9,600 (2022: £9,600).