2022-10-012023-09-302023-09-30falseSC580128LT MANUFACTURING 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LT MANUFACTURING LTD

Registered Number
SC580128
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2023

LT MANUFACTURING LTD
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

Gregor Stewart Fleming
Kevin Alexander Fleming
Tracey Hinds

Company Secretary

Kevin Alexander Fleming

Registered Address

37 Gleneagles Avenue
Glenrothes
KY6 2QA

Registered Number

SC580128 (Scotland)
LT MANUFACTURING LTD
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets35763,073
Tangible assets476,78980,584
77,36583,657
Current assets
Stocks67,79165,971
Debtors76,47135,581
Cash at bank and on hand69,21786,104
213,479187,656
Creditors amounts falling due within one year6(68,063)(35,977)
Net current assets (liabilities)145,416151,679
Total assets less current liabilities222,781235,336
Creditors amounts falling due after one year7(31,901)(47,434)
Provisions for liabilities(14,590)(15,311)
Net assets176,290172,591
Capital and reserves
Called up share capital300300
Profit and loss account175,990172,291
Shareholders' funds176,290172,591
The financial statements were approved and authorised for issue by the Board of Directors on 29 February 2024, and are signed on its behalf by:
Kevin Alexander Fleming
Director
Registered Company No. SC580128
LT MANUFACTURING LTD
Notes to the Financial Statements
for the year ended 30 September 2023

1.Accounting policies
Statutory information
LT Manufacturing Ltd is a private company, limited by shares, registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
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 policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Employee 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.
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.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Development costs are being amortised evenly over their estimated useful life of three years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-5
Plant and machinery25-
Office Equipment-3
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20232022
Average number of employees during the year129
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 October 2225,10325,103
At 30 September 2325,10325,103
Amortisation and impairment
At 01 October 2222,03022,030
Charge for year2,4972,497
At 30 September 2324,52724,527
Net book value
At 30 September 23576576
At 30 September 223,0733,073
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 October 2216,60744,73336,1096,347103,796
Additions-16,676-1,54018,216
Disposals-(776)--(776)
At 30 September 2316,60760,63336,1097,887121,236
Depreciation and impairment
At 01 October 222,36916,1051984,54023,212
Charge for year3,3158,2168,9781,01821,527
On disposals-(292)--(292)
At 30 September 235,68424,0299,1765,55844,447
Net book value
At 30 September 2310,92336,60426,9332,32976,789
At 30 September 2214,23828,62835,9111,80780,584
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables41,97432,577
Other debtors30,000-
Prepayments and accrued income4,4973,004
Total76,47135,581
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables701,660
Bank borrowings and overdrafts7,0007,000
Taxation and social security48,56817,450
Finance lease and HP contracts8,5337,509
Other creditors1,444534
Accrued liabilities and deferred income2,4481,824
Total68,06335,977
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts11,66718,667
Other creditors20,23428,767
Total31,90147,434
8.Other commitments
Minimum lease payments under non-cancellable operating leases fall due as follows: £36,000 (2022: £36,000)