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REGISTERED NUMBER: 09557876 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

LCS ENERGY LTD

LCS ENERGY LTD (REGISTERED NUMBER: 09557876)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LCS ENERGY LTD

COMPANY INFORMATION
For The Year Ended 31 July 2023







DIRECTORS: G Stephens
J Martin





REGISTERED OFFICE: Unit 9 Brook Farm
Thrapston Road
Ellington
Huntingdon
Cambridgeshire
PE28 0AE





REGISTERED NUMBER: 09557876 (England and Wales)





ACCOUNTANTS: TC Group
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

LCS ENERGY LTD (REGISTERED NUMBER: 09557876)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,073 30,278

CURRENT ASSETS
Stocks 5 22,000 22,000
Debtors 6 1,111,214 329,642
Cash at bank 1,313,133 584,260
2,446,347 935,902
CREDITORS
Amounts falling due within one year 7 874,455 326,218
NET CURRENT ASSETS 1,571,892 609,684
TOTAL ASSETS LESS CURRENT LIABILITIES 1,597,965 639,962

CREDITORS
Amounts falling due after more than one
year

8

(49,214

)

(82,823

)

PROVISIONS FOR LIABILITIES 9 (2,463 ) (5,753 )
NET ASSETS 1,546,288 551,386

CAPITAL AND RESERVES
Called up share capital 10 205 200
Retained earnings 11 1,546,083 551,186
SHAREHOLDERS' FUNDS 1,546,288 551,386

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

LCS ENERGY LTD (REGISTERED NUMBER: 09557876)

BALANCE SHEET - continued
31 July 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 11 March 2024 and were signed on its behalf by:




G Stephens - Director



J Martin - Director


LCS ENERGY LTD (REGISTERED NUMBER: 09557876)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 July 2023


1. STATUTORY INFORMATION

LCS Energy 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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 the cost less estimated residual value of each asset over its estimated useful life.
Tools & equipment - 25% on reducing balance
Motor vehicles - 20% on cost
Office & computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.


LCS ENERGY LTD (REGISTERED NUMBER: 09557876)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued
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.

Warranty provision
Provision is made for estimated warranty claims in respect of products sold which are still under warranty at the end of the reporting period.

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 13 ) .

LCS ENERGY LTD (REGISTERED NUMBER: 09557876)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 July 2023


4. TANGIBLE FIXED ASSETS
Office &
Tools & Motor computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 16,885 23,208 21,560 61,653
Additions - - 3,248 3,248
At 31 July 2023 16,885 23,208 24,808 64,901
DEPRECIATION
At 1 August 2022 13,599 4,642 13,134 31,375
Charge for year 821 3,713 2,919 7,453
At 31 July 2023 14,420 8,355 16,053 38,828
NET BOOK VALUE
At 31 July 2023 2,465 14,853 8,755 26,073
At 31 July 2022 3,286 18,566 8,426 30,278

5. STOCKS
2023 2022
£    £   
WIP & closing stock 22,000 22,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,070,222 326,455
Bad Debt provision 11,452 -
Other debtors 2,020 2,020
Unpaid Share Capital 5 -
Directors' current accounts 26,348 -
Prepayments and accrued income 1,167 1,167
1,111,214 329,642

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,035 1,568
Trade creditors 368,188 207,610
Corporation tax 327,934 91,108
Social security and other taxes 26,620 18,788
VAT 139,728 5,779
Accrued expenses 1,950 1,365
874,455 326,218

LCS ENERGY LTD (REGISTERED NUMBER: 09557876)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 July 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,289 9,547
Bank loans - 2-5 years 8,773 27,771
Warranty 30,000 30,000
Directors' loan accounts 152 15,505
49,214 82,823

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,463 5,753

Deferred
tax
£   
Balance at 1 August 2022 5,753
Provided during year (3,290 )
Balance at 31 July 2023 2,463

10. CALLED UP SHARE CAPITAL

Class of Capital Nominal Value Issued number of shares £   
Ordinary £0.10 1000 100
Ordinary B £0.10 500 50
Ordinary C £0.10 500 50
Ordinary G £0.10 50 5
TOTAL 2050 205

11. RESERVES
Retained
earnings
£   

At 1 August 2022 551,186
Profit for the year 1,221,780
Dividends (226,883 )
At 31 July 2023 1,546,083

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £109,366 (2022 - £114,228) were paid to the directors .

Included in other creditors is an amount owed to Mr G Stephens, director, of £152 (2022: -£7,828). This loan is interest free and repayable on demand.

Included in other debtors is an amount owed from Mr J Martin, director, of £26,348 (2022: -£7,677). This loan is interest free and repayable on demand.

LCS ENERGY LTD (REGISTERED NUMBER: 09557876)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 July 2023


13. ULTIMATE CONTROLLING PARTY

The controlling parties are Mr J Martin and Mr G Stephens by virtue of their ownership of the issued ordinary share capital.