1 false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2021 - FRS102_2021 8,855 8,855 xbrli:pure xbrli:shares iso4217:GBP 5984128 2022-11-01 2023-10-31 5984128 2023-10-31 5984128 2022-10-31 5984128 2021-11-01 2022-10-31 5984128 2022-10-31 5984128 core:NetGoodwill 2022-11-01 2023-10-31 5984128 core:PlantMachinery 2022-11-01 2023-10-31 5984128 bus:Director2 2022-11-01 2023-10-31 5984128 core:NetGoodwill 2023-10-31 5984128 core:PlantMachinery 2022-10-31 5984128 core:PlantMachinery 2023-10-31 5984128 core:WithinOneYear 2023-10-31 5984128 core:WithinOneYear 2022-10-31 5984128 core:AfterOneYear 2023-10-31 5984128 core:AfterOneYear 2022-10-31 5984128 core:ShareCapital 2023-10-31 5984128 core:ShareCapital 2022-10-31 5984128 core:RetainedEarningsAccumulatedLosses 2023-10-31 5984128 core:RetainedEarningsAccumulatedLosses 2022-10-31 5984128 core:PlantMachinery 2022-10-31 5984128 bus:SmallEntities 2022-11-01 2023-10-31 5984128 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 5984128 bus:FullAccounts 2022-11-01 2023-10-31 5984128 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 5984128 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31
COMPANY REGISTRATION NUMBER: 5984128
Luton Ink & Laser Refills Limited
Filleted Unaudited Financial Statements
31 October 2023
Luton Ink & Laser Refills Limited
Financial Statements
Year ended 31 October 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Luton Ink & Laser Refills Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
203
424
Current assets
Stocks
9,645
9,550
Debtors
7
3,001
8,159
Cash at bank and in hand
2,162
2,104
-------
-------
14,808
19,813
Creditors: amounts falling due within one year
8
23,667
25,778
-------
-------
Net current liabilities
8,859
5,965
------
------
Total assets less current liabilities
( 8,656)
( 5,541)
Creditors: amounts falling due after more than one year
9
4,900
7,700
Provisions
Taxation including deferred tax
12
-------
-------
Net liabilities
( 13,556)
( 13,253)
-------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 13,558)
( 13,255)
-------
-------
Shareholders deficit
( 13,556)
( 13,253)
-------
-------
These 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 statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Luton Ink & Laser Refills Limited
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 21 March 2024 , and are signed on behalf of the board by:
Mrs I P McConnell
Director
Company registration number: 5984128
Luton Ink & Laser Refills Limited
Notes to the Financial Statements
Year ended 31 October 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 112-114 High Street, Rickmansworth, Herts, WD3 1AQ.
2. Statement of compliance
These 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
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The financial statements have been prepared on the going concern basis as creditors include a significant amount owing to the director and shareholder who has confirmed that repayment of this amount will only be made if it will not affect the company's ability to continue trading.
(c) Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable for goods supplied during the year, exclusive of Value Added Tax.
(d) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
(e) Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
(f) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Franchise Fee
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(g) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(h) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Shop Equipment
-
20% straight line
Office Equipment
-
33% straight line
(i) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(j) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
(k) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 November 2022 and 31 October 2023
8,855
------
Amortisation
At 1 November 2022 and 31 October 2023
8,855
------
Carrying amount
At 31 October 2023
------
At 31 October 2022
------
6. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 November 2022
19,567
5,236
24,803
Additions
50
50
-------
------
-------
At 31 October 2023
19,617
5,236
24,853
-------
------
-------
Depreciation
At 1 November 2022
19,303
5,076
24,379
Charge for the year
160
111
271
-------
------
-------
At 31 October 2023
19,463
5,187
24,650
-------
------
-------
Carrying amount
At 31 October 2023
154
49
203
-------
------
-------
At 31 October 2022
264
160
424
-------
------
-------
7. Debtors
2023
2022
£
£
Trade debtors
111
Other debtors
3,001
8,048
------
------
3,001
8,159
------
------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,800
2,800
Trade creditors
1,455
10,312
Other creditors
19,412
12,666
-------
-------
23,667
25,778
-------
-------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
4,900
7,700
------
------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
2,505
3,002
------
------