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Registration number: SC656965

LBO CAPITAL LTD

Unaudited Filleted Financial Statements

for the Year Ended 30 March 2023

 

LBO CAPITAL LTD

Contents

Company Information

1

Profit and Loss Account

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

LBO CAPITAL LTD

Company Information

Director

Brendan Welsh

Registered office

Flat 3
60 Mid Street
Bathgate
West Lothian
EH48 1PT

Accountants

Beans Accountants Ltd
Chartered Accountant
Suite F/22
The White House
Greenalls Avenue
Warrington
Cheshire
WA4 6HL

 

LBO CAPITAL LTD

Profit and Loss Account for the Year Ended 30 March 2023

Note

2023
£

2022
£

Turnover

 

79

5,807

Gross profit

 

79

5,807

Distribution costs

 

(375)

-

Administrative expenses

 

(5,547)

(10,752)

Operating loss

 

(5,843)

(4,945)

Other interest receivable and similar income

 

-

5

Loss before tax

(5,843)

(4,940)

Tax on loss

 

721

803

Loss for the financial year

 

(5,122)

(4,137)

The above results were derived from continuing operations.

 

LBO CAPITAL LTD

(Registration number: SC656965)
Balance Sheet as at 30 March 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

5

79,470

84,955

Current assets

 

Cash at bank and in hand

 

37

2,882

Creditors: Amounts falling due within one year

7

(78,575)

(80,995)

Net current liabilities

 

(78,538)

(78,113)

Total assets less current liabilities

 

932

6,842

Provisions for liabilities

-

(788)

Net assets

 

932

6,054

Capital and reserves

 

Called up share capital

8

100

100

Other reserves

(1,265)

3,360

Retained earnings

2,097

2,594

Shareholders' funds

 

932

6,054

For the financial year ending 30 March 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 April 2024
 

 

LBO CAPITAL LTD

(Registration number: SC656965)
Balance Sheet as at 30 March 2023 (continued)

.........................................
Brendan Welsh
Director

   
     
 

LBO CAPITAL LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Flat 3
60 Mid Street
Bathgate
West Lothian
EH48 1PT
United Kingdom

These financial statements were authorised for issue by the director on 22 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

LBO CAPITAL LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

LBO CAPITAL LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023 (continued)

4

Investments

2023
£

2022
£

Other investments

The market value of the listed investments at 30 March 2023 was £79,470 (2022 - £84,955).

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 31 March 2022

80,716

80,716

Fair value adjustments

(1,267)

(1,267)

Additions

21

21

At 30 March 2023

79,470

79,470

Impairment

Carrying amount

At 30 March 2023

79,470

79,470

6

Debtors

Current

2023
£

2022
£

 

-

-

 

LBO CAPITAL LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

845

775

Accruals and deferred income

-

720

Other creditors

77,730

79,500

78,575

80,995

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Related party transactions

Summary of transactions with entities with joint control or significant interest

Loan from A2C Consulting Limited
 The amounts listed were outstanding at the reporting end date. This consists of an intercompany loan from A2C Consulting Limited which is controlled by the shareholders and directors of LBO Capital Limited.
 This loan is repayable on demand.
 

Loans from related parties

2023

Entities with joint control or significant influence
£

Key management
£

Total
£

At start of period

74,000

6,500

80,500

Repaid

(1,769)

-

(1,769)

At end of period

72,231

6,500

78,731

 

LBO CAPITAL LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023 (continued)

9

Related party transactions (continued)

2022

Entities with joint control or significant influence
£

Key management
£

Total
£

At start of period

131,000

500

131,500

Advanced

-

6,000

6,000

Repaid

(57,000)

-

(57,000)

At end of period

74,000

6,500

80,500

Terms of loans from related parties

The amounts listed were outstanding at the reporting end date. This consists of an intercompany loan from A2C Consulting Limited which is controlled by the shareholders and directors of LBO Capital Limited. This loan is repayable on demand.
 At the balance sheet date, LBO Capital LTD owed the director £6,500.
 

10

Financial instruments

Categorisation of financial instruments

2023
 £

2022
 £

Financial assets measured at fair value through profit or loss

79,470

84,955

Financial assets measured at fair value

Equity investments on Stock Market
Stock Market Valuation

The fair value is £Nil (2022 - £84,955) and the change in value included in profit or loss is £Nil (2022 - £(9,020)).