Company Registration No. 10616784 (England and Wales)
LR-Refurb Ltd
Unaudited accounts
for the year ended 31 March 2023
LR-Refurb Ltd
Unaudited accounts
Contents
LR-Refurb Ltd
Company Information
for the year ended 31 March 2023
Company Number
10616784 (England and Wales)
Registered Office
UNIT 1, HIGHFIELDS INDUSTRIAL ESTATE
NORTH NEWBALD
YORK
YO43 4SW
ENGLAND
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
LR-Refurb Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
90,270
86,728
Inventories
114,303
74,303
Cash at bank and in hand
16,653
59,763
Creditors: amounts falling due within one year
(197,443)
(170,972)
Net current liabilities
(23,863)
(30,672)
Total assets less current liabilities
66,407
56,056
Creditors: amounts falling due after more than one year
(37,465)
(48,401)
Provisions for liabilities
Deferred tax
(6,943)
(6,943)
Called up share capital
100
100
Profit and loss account
21,899
612
Shareholders' funds
21,999
712
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 October 2023 and were signed on its behalf by
Mr G Marshall
Director
Company Registration No. 10616784
LR-Refurb Ltd
Notes to the Accounts
for the year ended 31 March 2023
LR-Refurb Ltd is a private company, limited by shares, registered in England and Wales, registration number 10616784. The registered office is UNIT 1, HIGHFIELDS INDUSTRIAL ESTATE, NORTH NEWBALD, YORK, YO43 4SW, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
LR-Refurb Ltd
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
97,714
38,999
835
137,548
Additions
-
31,000
232
31,232
At 31 March 2023
97,714
69,999
1,067
168,780
At 1 April 2022
31,565
18,750
505
50,820
Charge for the year
14,766
12,812
112
27,690
At 31 March 2023
46,331
31,562
617
78,510
At 31 March 2023
51,383
38,437
450
90,270
At 31 March 2022
66,149
20,249
330
86,728
Amounts falling due within one year
Trade debtors
42,624
6,096
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
11,534
3,485
Trade creditors
14,784
43,554
Taxes and social security
14,346
13,855
Other creditors
21,490
1,144
Loans from directors
127,920
95,600
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
LR-Refurb Ltd
Notes to the Accounts
for the year ended 31 March 2023
9
Average number of employees
During the year the average number of employees was 7 (2022: 7).