IRIS Accounts Production v23.3.0.418 06057204 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure060572042022-02-28060572042023-02-28060572042022-03-012023-02-28060572042021-02-28060572042021-03-012022-02-28060572042022-02-2806057204ns16:EnglandWales2022-03-012023-02-2806057204ns15:PoundSterling2022-03-012023-02-2806057204ns11:Director12022-03-012023-02-2806057204ns11:PrivateLimitedCompanyLtd2022-03-012023-02-2806057204ns11:SmallEntities2022-03-012023-02-2806057204ns11:AuditExempt-NoAccountantsReport2022-03-012023-02-2806057204ns11:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2806057204ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-2806057204ns11:FullAccounts2022-03-012023-02-2806057204ns11:Director22022-03-012023-02-2806057204ns11:RegisteredOffice2022-03-012023-02-2806057204ns6:CurrentFinancialInstruments2023-02-2806057204ns6:CurrentFinancialInstruments2022-02-2806057204ns6:Non-currentFinancialInstruments2023-02-2806057204ns6:Non-currentFinancialInstruments2022-02-2806057204ns6:ShareCapital2023-02-2806057204ns6:ShareCapital2022-02-2806057204ns6:RetainedEarningsAccumulatedLosses2023-02-2806057204ns6:RetainedEarningsAccumulatedLosses2022-02-2806057204ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-03-012023-02-2806057204ns6:PlantMachinery2022-03-012023-02-2806057204ns6:FurnitureFittings2022-03-012023-02-2806057204ns6:ComputerEquipment2022-03-012023-02-2806057204ns6:LandBuildings2022-02-2806057204ns6:PlantMachinery2022-02-2806057204ns6:FurnitureFittings2022-02-2806057204ns6:ComputerEquipment2022-02-2806057204ns6:LandBuildings2022-03-012023-02-2806057204ns6:LandBuildings2023-02-2806057204ns6:PlantMachinery2023-02-2806057204ns6:FurnitureFittings2023-02-2806057204ns6:ComputerEquipment2023-02-2806057204ns6:LandBuildings2022-02-2806057204ns6:PlantMachinery2022-02-2806057204ns6:FurnitureFittings2022-02-2806057204ns6:ComputerEquipment2022-02-2806057204ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-2806057204ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-2806057204ns6:Secured2023-02-2806057204ns6:Secured2022-02-28
REGISTERED NUMBER: 06057204 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

L Squared Lasers Ltd

L Squared Lasers Ltd (Registered number: 06057204)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L Squared Lasers Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: N D Greatorex
M Knott





REGISTERED OFFICE: 65 Knowl Piece
Wilbury Way
HITCHIN
Hertfordshire
SG4 0TY





REGISTERED NUMBER: 06057204 (England and Wales)





ACCOUNTANTS: Godfrey Laws & Co Limited
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

L Squared Lasers Ltd (Registered number: 06057204)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 173,419 151,795

CURRENT ASSETS
Debtors 5 33,228 46,851
Cash at bank and in hand 78,712 76,434
111,940 123,285
CREDITORS
Amounts falling due within one year 6 63,334 55,423
NET CURRENT ASSETS 48,606 67,862
TOTAL ASSETS LESS CURRENT
LIABILITIES

222,025

219,657

CREDITORS
Amounts falling due after more than one
year

7

(57,116

)

(63,012

)

PROVISIONS FOR LIABILITIES (8,280 ) (1,790 )
NET ASSETS 156,629 154,855

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 156,429 154,655
SHAREHOLDERS' FUNDS 156,629 154,855

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

L Squared Lasers Ltd (Registered number: 06057204)

Balance Sheet - continued
28 February 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 Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by:





N D Greatorex - Director


L Squared Lasers Ltd (Registered number: 06057204)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

L Squared Lasers 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

Government grants
Grants are accounted for under the accruals model.
Grants of a revenue nature are recognised in 'other income' within profit and loss in the same period as the related expenditure.

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 9 (2022 - 9 ) .

L Squared Lasers Ltd (Registered number: 06057204)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 154,836 113,827 19,023 10,767 298,453
Additions - 29,406 - 450 29,856
At 28 February 2023 154,836 143,233 19,023 11,217 328,309
DEPRECIATION
At 1 March 2022 12,460 113,311 10,800 10,087 146,658
Charge for year 2,077 3,929 1,819 407 8,232
At 28 February 2023 14,537 117,240 12,619 10,494 154,890
NET BOOK VALUE
At 28 February 2023 140,299 25,993 6,404 723 173,419
At 28 February 2022 142,376 516 8,223 680 151,795

Included in cost of land and buildings is freehold land of £ 51,000 (2022 - £ 51,000 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 32,284 46,476
Other debtors 944 375
33,228 46,851

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 6,319 6,743
Trade creditors 2,838 2,000
Taxation and social security 50,443 42,880
Other creditors 3,734 3,800
63,334 55,423

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 57,116 63,012

L Squared Lasers Ltd (Registered number: 06057204)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 63,435 69,755

The mortgage with HSBC bank PLC is secured on the freehold property. The bank also holds a debenture over the company's assets.

9. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr N Greatorex and Mr M Knott by virtue of their shareholdings.