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Registration number: 06128481

Lostock Business Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Lostock Business Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Lostock Business Services Limited

Company Information

Directors

Mr Martin John Charnock

Mrs Clare Joanne Charnock

Registered office

1 Pavilion Square
Westhoughton
Bolton
Bolton
BL5 3AJ

Accountants

EKWilliams Accountants Limited
1 Pavilion Square
Westhoughton
Bolton
BL5 3AJ

 

Lostock Business Services Limited

(Registration number: 06128481)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

250

785

Current assets

 

Debtors

6

33,242

20,902

Cash at bank and in hand

 

919,959

699,802

 

953,201

720,704

Creditors: Amounts falling due within one year

7

(212,057)

(45,424)

Net current assets

 

741,144

675,280

Total assets less current liabilities

 

741,394

676,065

Provisions for liabilities

(47)

(149)

Net assets

 

741,347

675,916

Capital and reserves

 

Called up share capital

100

100

Retained earnings

741,247

675,816

Shareholders' funds

 

741,347

675,916

 

Lostock Business Services Limited

(Registration number: 06128481)
Balance Sheet as at 28 February 2023

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 August 2023 and signed on its behalf by:
 

.........................................
Mr Martin John Charnock
Director

 

Lostock Business Services Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Pavilion Square
Westhoughton
Bolton
Bolton
BL5 3AJ
England

These financial statements were authorised for issue by the Board on 22 August 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Foreign currency transactions are initially recognised in Sterling using the spot exchange rate between the Sterling and the foreign currency on the date of the transaction.

Assets and liabilities that are denominated in foreign currency are retranslated using the year end spot exchange rate with any differences being recognised in the income statement.

 

Lostock Business Services Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% straight line

Fixtures and fittings

20% straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Lostock Business Services Limited

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

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

535

700

5

Tangible assets

Furniture, fittings and equipment
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 March 2022

2,735

7,948

10,683

At 28 February 2023

2,735

7,948

10,683

Depreciation

At 1 March 2022

2,588

7,310

9,898

Charge for the year

49

486

535

At 28 February 2023

2,637

7,796

10,433

Carrying amount

At 28 February 2023

98

152

250

At 28 February 2022

147

638

785

6

Debtors

Current

2023
£

2022
£

Trade debtors

33,242

20,902

 

Lostock Business Services Limited

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

21,158

22,758

Taxation and social security

88,248

15,700

Accruals and deferred income

2,665

2,665

Other creditors

99,986

4,301

212,057

45,424