0 false false false false false false false false false true false false true false true true No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 10833798 2022-07-01 2023-06-30 10833798 2023-06-30 10833798 2022-06-30 10833798 bus:Director1 2022-07-01 2023-06-30 10833798 bus:Director2 2022-07-01 2023-06-30 10833798 bus:Director3 2022-07-01 2023-06-30 10833798 core:WithinOneYear 2023-06-30 10833798 core:WithinOneYear 2022-06-30 10833798 core:AfterOneYear 2023-06-30 10833798 core:AfterOneYear 2022-06-30 10833798 core:ShareCapital 2023-06-30 10833798 core:ShareCapital 2022-06-30 10833798 bus:SmallEntities 2022-07-01 2023-06-30 10833798 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 10833798 bus:AbridgedAccounts 2022-07-01 2023-06-30 10833798 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 10833798 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 10833798
Luscombe Investments Ltd
Filleted Unaudited Abridged Financial Statements
30 June 2023
Luscombe Investments Ltd
Abridged Financial Statements
Year ended 30 June 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Luscombe Investments Ltd
Abridged Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
Current assets
Debtors
4,870
Cash at bank and in hand
11,470
9,607
--------
--------
11,470
14,477
Creditors: amounts falling due within one year
Amounts owed to undertakings in which the company has a participating interest
78
Accruals and deferred income
840
931
--------
--------
918
931
--------
--------
Net current assets
10,552
13,546
--------
--------
Total assets less current liabilities
10,552
13,546
Creditors: amounts falling due after more than one year
Bank loans and overdrafts
10,548
13,542
--------
--------
Net assets
4
4
--------
--------
Capital and reserves
Called up share capital
4
4
----
----
Shareholders funds
4
4
----
----
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Luscombe Investments Ltd
Abridged Statement of Financial Position (continued)
30 June 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 14 March 2024 , and are signed on behalf of the board by:
Mrs S.L. Luscombe
Mr B.A. McDowell
Director
Director
Mr H.N. Luscombe
Director
Company registration number: 10833798
Luscombe Investments Ltd
Notes to the Abridged Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Bridge Street, Newport, NP20 4SF.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The accounts have been prepared on the going concern basis. The directors have reviewed the financial position of the company including projections for future trading and obtained suitable assurances from the lenders.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Related party transactions
The company was under the control of the directors throughout the period. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.