Company Registration No. 03684674 (England and Wales)
LBS Security Services limited
Unaudited accounts
for the year ended 31 March 2023
LBS Security Services limited
Unaudited accounts
Contents
LBS Security Services limited
Company Information
for the year ended 31 March 2023
Company Number
03684674 (England and Wales)
Registered Office
Unit 6 Sterling Trading Estate
Rainham Road south
Dagenham
RM10 8TX
Accountants
Helrik and Louw
72 Great Suffolk Street
London
SE1 0BL
LBS Security Services limited
Statement of financial position
as at 31 March 2023
Tangible assets
396,224
166,356
Debtors
1,778,494
1,615,408
Cash at bank and in hand
1,213,107
921,122
Creditors: amounts falling due within one year
(904,507)
(911,895)
Net current assets
2,180,715
1,718,440
Total assets less current liabilities
2,662,583
1,970,440
Creditors: amounts falling due after more than one year
(955,161)
(258,376)
Net assets
1,707,422
1,712,064
Called up share capital
1,906
1,906
Capital redemption reserve
200,000
200,000
Profit and loss account
1,505,516
1,510,158
Shareholders' funds
1,707,422
1,712,064
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 March 2024 and were signed on its behalf by
L Bird
Director
Company Registration No. 03684674
LBS Security Services limited
Notes to the Accounts
for the year ended 31 March 2023
LBS Security Services limited is a private company, limited by shares, registered in England and Wales, registration number 03684674. The registered office is Unit 6 Sterling Trading Estate, Rainham Road south, Dagenham, RM10 8TX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on cost
Motor vehicles
20% on reducing balance
Fixtures & fittings
15% on cost
Computer equipment
33.33% on cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
LBS Security Services limited
Notes to the Accounts
for the year ended 31 March 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2022
91,266
197,677
305,836
176,868
187,088
958,735
Additions
204,500
5,032
92,579
2,668
5,970
310,749
Disposals
-
-
(48,000)
-
-
(48,000)
At 31 March 2023
295,766
202,709
350,415
179,536
193,058
1,221,484
At 1 April 2022
91,266
187,890
155,087
171,369
186,767
792,379
Charge for the year
-
2,908
42,822
3,784
2,151
51,665
On disposals
-
-
(18,784)
-
-
(18,784)
At 31 March 2023
91,266
190,798
179,125
175,153
188,918
825,260
At 31 March 2023
204,500
11,911
171,290
4,383
4,140
396,224
At 31 March 2022
-
9,787
150,749
5,499
321
166,356
5
Investments
Other investments
Valuation at 1 April 2022
85,644
Valuation at 31 March 2023
85,644
Amounts falling due within one year
Trade debtors
923,777
756,761
Accrued income and prepayments
105,202
96,133
Other debtors
701,129
762,514
LBS Security Services limited
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
50,000
50,000
Obligations under finance leases and hire purchase contracts
48,021
39,498
Trade creditors
629,264
588,264
Taxes and social security
71,282
74,144
Other creditors
13,211
42,878
Loans from directors
74,360
75,510
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
116,677
166,677
Obligations under finance leases and hire purchase contracts
30,525
48,991
Amounts owed to group undertakings and other participating interests
807,959
42,708
The bank overdraft, payments on account and loan are secured by a debenture over the assets of the company. Hire purchase contracts are secured on the assets concerned.
9
Average number of employees
During the year the average number of employees was 38 (2022: 34).