Registered number
06433276
Lloydbottoms Limited
Filleted Accounts
30 November 2023
Lloydbottoms Limited
Registered number: 06433276
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 6,453 8,123
Current assets
Stocks 13,357 18,538
Debtors 5 43,203 31,133
Cash at bank and in hand 21,512 57,328
78,072 106,999
Creditors: amounts falling due within one year 6 (38,610) (34,647)
Net current assets 39,462 72,352
Total assets less current liabilities 45,915 80,475
Creditors: amounts falling due after more than one year 7 (32,392) (37,809)
Provisions for liabilities (1,900) (1,900)
Net assets 11,623 40,766
Capital and reserves
Called up share capital 102 102
Profit and loss account 11,521 40,664
Shareholder's funds 11,623 40,766
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S M Rickerby
Director
Approved by the board on 9 March 2024
Lloydbottoms Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue from the rendering of services and is recognised by reference to invoices raised.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 25% of the reducing balance
Plant and machinery 25% of the reducing balance
Work in progress
Work in progress is measured at the estimated selling price of billable hours used but not invoiced at the year end.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 200,000
At 30 November 2023 200,000
Amortisation
At 1 December 2022 200,000
At 30 November 2023 200,000
Net book value
At 30 November 2023 -
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 8,348 45,548 53,896
Additions - 730 730
Disposals - (763) (763)
At 30 November 2023 8,348 45,515 53,863
Depreciation
At 1 December 2022 8,150 37,623 45,773
Charge for the year 49 2,351 2,400
On disposals - (763) (763)
At 30 November 2023 8,199 39,211 47,410
Net book value
At 30 November 2023 149 6,304 6,453
At 30 November 2022 198 7,925 8,123
5 Debtors 2023 2022
£ £
Trade debtors 37,153 25,661
Other debtors 6,050 5,472
43,203 31,133
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Taxation and social security costs 18,667 23,394
Other creditors 9,943 1,253
38,610 34,647
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 20,047 30,050
Other creditors 12,345 7,759
32,392 37,809
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 78,371 7,860
9 Related party transactions
Included in Creditors, amounts falling due after one year is an amount of £12,345 owed to the director (2022 £7,758). This amount is interest free and unsecured.
10 Other information
Lloydbottoms Limited is a private company limited by shares and incorporated in England. Its registered office is:
118 High Street
Staple Hill
Bristol
BS16 5HH
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