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REGISTERED NUMBER: 01586008 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1ST JANUARY 2022 TO 31ST MARCH 2023

FOR

LABANGATE LIMITED

LABANGATE LIMITED (REGISTERED NUMBER: 01586008)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST JANUARY 2022 TO 31ST MARCH 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


LABANGATE LIMITED (REGISTERED NUMBER: 01586008)

BALANCE SHEET
31ST MARCH 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 411,903 412,769

CURRENT ASSETS
Stocks 5 108,279 114,955
Debtors 6 27,587 4,631
Cash at bank 44,632 12,990
180,498 132,576
CREDITORS
Amounts falling due within one year 7 93,317 63,716
NET CURRENT ASSETS 87,181 68,860
TOTAL ASSETS LESS CURRENT LIABILITIES 499,084 481,629

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 498,984 481,529
SHAREHOLDERS' FUNDS 499,084 481,629

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 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 30th October 2023 and were signed on its behalf by:





S D Hills - Director


LABANGATE LIMITED (REGISTERED NUMBER: 01586008)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST JANUARY 2022 TO 31ST MARCH 2023


1. STATUTORY INFORMATION

Labangate Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01586008

Registered office: East Rigton Farm
Mill Lane
Bardsey
Leeds
LS17 9AN

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold land and buildings- 1% on cost less estimated residual value excluding land
Equipment- 25% reducing balance

Stocks
Stocks are stated 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 stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the period 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.


LABANGATE LIMITED (REGISTERED NUMBER: 01586008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST JANUARY 2022 TO 31ST MARCH 2023


2. ACCOUNTING POLICIES - continued
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 period 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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2022
and 31st March 2023 409,307 51,593 460,900
DEPRECIATION
At 1st January 2022 - 48,131 48,131
Charge for period - 866 866
At 31st March 2023 - 48,997 48,997
NET BOOK VALUE
At 31st March 2023 409,307 2,596 411,903
At 31st December 2021 409,307 3,462 412,769

5. STOCKS
2023 2021
£    £   
Livestock 108,279 114,955

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade debtors 10,196 -
Other debtors 17,391 4,631
27,587 4,631

LABANGATE LIMITED (REGISTERED NUMBER: 01586008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST JANUARY 2022 TO 31ST MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade creditors 2,058 3
Amounts owed to group undertakings 74,195 45,213
Taxation and social security 714 -
Other creditors 16,350 18,500
93,317 63,716

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2021
value: £    £   
100 Ordinary £1 100 100