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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
Page
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LBS Security Services limited Company Information for the year ended 31 March 2023
Director
L Bird
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
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LBS Security Services limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
396,224 
166,356 
Investments
85,644 
85,644 
481,868 
252,000 
Current assets
Inventories
93,621 
93,805 
Debtors
1,778,494 
1,615,408 
Cash at bank and in hand
1,213,107 
921,122 
3,085,222 
2,630,335 
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 
Capital and reserves
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
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LBS Security Services limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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.
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LBS Security Services limited Notes to the Accounts for the year ended 31 March 2023
Leased assets
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.
Pension costs
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 
Depreciation
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 
Net book value
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 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
48,386 
- 
Trade debtors
923,777 
756,761 
Accrued income and prepayments
105,202 
96,133 
Other debtors
701,129 
762,514 
1,778,494 
1,615,408 
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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 
VAT
- 
24,601 
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 
Accruals
18,369 
17,000 
904,507 
911,895 
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 
955,161 
258,376 
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).
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