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LBS ENTERPRISES LIMITED

Registered Number
04058809
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

LBS ENTERPRISES LIMITED
Company Information
for the year from 1 September 2022 to 31 August 2023

Directors

BROCKHURST SOUTER, Gina Valerie
BUCK, Ryan Llewellyn
HALLIWELL, Lawrence
SOUTER, Simon Lee

Company Secretary

HALLIWELL, Lawrence

Registered Address

Unit 9a Water Lane Trading Estate Water Lane
Storrington
Pulborough
RH20 3EA

Registered Number

04058809 (England and Wales)
LBS ENTERPRISES LIMITED
Statement of Financial Position
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets6270,978351,397
270,978351,397
Current assets
Stocks8225,000297,000
Debtors9435,501301,457
Cash at bank and on hand62,29744,366
722,798642,823
Creditors amounts falling due within one year10(499,634)(456,413)
Net current assets (liabilities)223,164186,410
Total assets less current liabilities494,142537,807
Creditors amounts falling due after one year11(164,766)(234,183)
Net assets329,376303,624
Capital and reserves
Called up share capital100100
Profit and loss account329,276303,524
Shareholders' funds329,376303,624
The financial statements were approved and authorised for issue by the Board of Directors on 19 March 2024, and are signed on its behalf by:
HALLIWELL, Lawrence
Director
Registered Company No. 04058809
LBS ENTERPRISES LIMITED
Notes to the Financial Statements
for the year ended 31 August 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Intangible assets policy
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year1515
5.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 September 22300,000300,000
At 31 August 23300,000300,000
Amortisation and impairment
At 01 September 22300,000300,000
At 31 August 23300,000300,000
Net book value
At 31 August 23--
At 31 August 22--
6.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 September 22952,17050,76810,5661,013,504
Additions7,985-1,9229,907
At 31 August 23960,15550,76812,4881,023,411
Depreciation and impairment
At 01 September 22615,33939,7237,045662,107
Charge for year86,2042,7611,36190,326
At 31 August 23701,54342,4848,406752,433
Net book value
At 31 August 23258,6128,2844,082270,978
At 31 August 22336,83111,0453,521351,397
7.Dividends proposed and payable

2023

2022

££
Dividends Paid222,159190,063
Total222,159190,063
Dividends were declared and paid on two class's of shares as follows: Ordinary A £205,100; Ordinary B £17,059
8.Stocks

2023

2022

££
Other stocks225,000297,000
Total225,000297,000
9.Debtors

2023

2022

££
Trade debtors / trade receivables435,501277,000
Other debtors-24,457
Total435,501301,457
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.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables263,764289,586
Bank borrowings and overdrafts32,01232,012
Taxation and social security91,836-
Finance lease and HP contracts71,99589,128
Other creditors40,02745,687
Total499,634456,413
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.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts69,80191,313
Other creditors94,965142,870
Total164,766234,183
12.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts94,965142,870