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REGISTERED NUMBER: 05700009 (England and Wales)












Unaudited Financial Statements

for the Year Ended 5 April 2023

for

LBJ : ART LTD

LBJ : ART LTD (REGISTERED NUMBER: 05700009)






Contents of the Financial Statements
for the Year Ended 5 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LBJ : ART LTD

Company Information
for the Year Ended 5 April 2023







DIRECTOR: C S Lightburn - Jones





SECRETARY: Mrs S A Lightburn-Jones





REGISTERED OFFICE: 100 Church Street
Brighton
East Sussex
BN1 1UJ





REGISTERED NUMBER: 05700009 (England and Wales)





ACCOUNTANTS: Paddenburg & Co Limited
100 Church Street
Brighton
East Sussex
BN1 1UJ

LBJ : ART LTD (REGISTERED NUMBER: 05700009)

Balance Sheet
5 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,535 2,573

CURRENT ASSETS
Debtors 5 - 17,439
Cash at bank 191,140 176,551
191,140 193,990
CREDITORS
Amounts falling due within one year 6 34,421 42,831
NET CURRENT ASSETS 156,719 151,159
TOTAL ASSETS LESS CURRENT
LIABILITIES

159,254

153,732

PROVISIONS FOR LIABILITIES 7 634 489
NET ASSETS 158,620 153,243

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 158,519 153,142
SHAREHOLDERS' FUNDS 158,620 153,243

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LBJ : ART LTD (REGISTERED NUMBER: 05700009)

Balance Sheet - continued
5 April 2023


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 director and authorised for issue on 16 November 2023 and were signed by:





C S Lightburn - Jones - Director


LBJ : ART LTD (REGISTERED NUMBER: 05700009)

Notes to the Financial Statements
for the Year Ended 5 April 2023

1. STATUTORY INFORMATION

LBJ : Art Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover comprises revenue recognised by the company in respect of services supplied.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

LBJ : ART LTD (REGISTERED NUMBER: 05700009)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2023

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 6 April 2022 6,663
Additions 657
At 5 April 2023 7,320
DEPRECIATION
At 6 April 2022 4,090
Charge for year 695
At 5 April 2023 4,785
NET BOOK VALUE
At 5 April 2023 2,535
At 5 April 2022 2,573

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 17,439

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 1,582
Tax 10,602 16,361
VAT 5,180 8,531
Directors' loan accounts 17,039 14,757
Accrued expenses 1,600 1,600
34,421 42,831

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 634 489

Deferred
tax
£   
Balance at 6 April 2022 489
Accelerated capital allowances 145
Balance at 5 April 2023 634

LBJ : ART LTD (REGISTERED NUMBER: 05700009)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2023

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C S Lightburn - Jones.