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REGISTERED NUMBER: 09739557 (England and Wales)















LSC CAPITAL LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023






LSC CAPITAL LIMITED (REGISTERED NUMBER: 09739557)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LSC CAPITAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: S Morley
A Morley-Doidge
R L Morley





REGISTERED OFFICE: 1-7 Fallbarn Road
Rawtenstall
Rossendale
BB4 7NT





REGISTERED NUMBER: 09739557 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
Chartered Accountants
The Exchange
5 Bank Street
Bury
BL9 0DN

LSC CAPITAL LIMITED (REGISTERED NUMBER: 09739557)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 379 474

CURRENT ASSETS
Debtors 5 7,846,978 5,109,769
Cash at bank and in hand 217,063 1,316,566
8,064,041 6,426,335
CREDITORS
Amounts falling due within one year 6 (6,252,150 ) (5,215,070 )
NET CURRENT ASSETS 1,811,891 1,211,265
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,812,270

1,211,739

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,812,170 1,211,639
SHAREHOLDERS' FUNDS 1,812,270 1,211,739

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:





S Morley - Director


LSC CAPITAL LIMITED (REGISTERED NUMBER: 09739557)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

LSC Capital Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09739557 and the company's registered office address is 1-7 Fallbarn Road, Rawtenstall, Rossendale, BB4 7NT.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue
Revenue represents interest and fees on loan advances receivable and arises wholly in the United Kingdom.

Revenue in relation to capital repayment loans is recognised on a straight line basis. Acceptance fees are recognised in full when paid by the customer as these do not represent a significant additional cost of finance.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

LSC CAPITAL LIMITED (REGISTERED NUMBER: 09739557)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


2. ACCOUNTING POLICIES - continued

Cost of sales
Cost of sales comprises cost of commission payable, fees and impairment charges in respect of customer loans.

Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.

Critical accounting estimates and judgements
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Making judgement based on knowledge of the customer on the level of provision required for impairment of customer loans. Further information received after the statement of financial position date may impact on the level of provision required.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

LSC CAPITAL LIMITED (REGISTERED NUMBER: 09739557)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 September 2022
and 31 August 2023 1,990
DEPRECIATION
At 1 September 2022 1,516
Charge for year 95
At 31 August 2023 1,611
NET BOOK VALUE
At 31 August 2023 379
At 31 August 2022 474

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 6,782,055 5,070,686
Amounts owed by related parties 450,634 -
7,232,689 5,070,686

Amounts falling due after more than one year:
Trade debtors 614,289 39,083

Aggregate amounts 7,846,978 5,109,769

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,350 25,222
Amounts owed to related parties 5,780,375 5,080,375
Taxation and social security 438,780 93,507
Other creditors 31,645 15,966
6,252,150 5,215,070