IRIS Accounts Production v24.1.9.2 11804622 director 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh118046222023-02-28118046222024-02-29118046222023-03-012024-02-29118046222022-02-28118046222022-03-012023-02-28118046222023-02-2811804622ns15:EnglandWales2023-03-012024-02-2911804622ns14:PoundSterling2023-03-012024-02-2911804622ns10:Director12023-03-012024-02-2911804622ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2911804622ns10:SmallEntities2023-03-012024-02-2911804622ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2911804622ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2911804622ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2911804622ns10:FullAccounts2023-03-012024-02-2911804622ns10:RegisteredOffice2023-03-012024-02-2911804622ns5:CurrentFinancialInstruments2024-02-2911804622ns5:CurrentFinancialInstruments2023-02-2811804622ns5:Non-currentFinancialInstruments2024-02-2911804622ns5:Non-currentFinancialInstruments2023-02-2811804622ns5:ShareCapital2024-02-2911804622ns5:ShareCapital2023-02-2811804622ns5:RetainedEarningsAccumulatedLosses2024-02-2911804622ns5:RetainedEarningsAccumulatedLosses2023-02-2811804622ns5:LeaseholdImprovements2023-03-012024-02-2911804622ns5:PlantMachinery2023-03-012024-02-2911804622ns5:MotorVehicles2023-03-012024-02-2911804622ns5:LeaseholdImprovements2023-02-2811804622ns5:PlantMachinery2023-02-2811804622ns5:MotorVehicles2023-02-2811804622ns5:LeaseholdImprovements2024-02-2911804622ns5:PlantMachinery2024-02-2911804622ns5:MotorVehicles2024-02-2911804622ns5:LeaseholdImprovements2023-02-2811804622ns5:PlantMachinery2023-02-2811804622ns5:MotorVehicles2023-02-2811804622ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2911804622ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2811804622ns5:Non-currentFinancialInstruments2023-03-012024-02-29
REGISTERED NUMBER: 11804622 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

LIBTEK LTD

LIBTEK LTD (REGISTERED NUMBER: 11804622)






Contents of the Financial Statements
for the year ended 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LIBTEK LTD

Company Information
for the year ended 29 FEBRUARY 2024







DIRECTOR: A D Winters





REGISTERED OFFICE: 27 Burleigh Way
Cuffley
Potters Bar
EN6 4LG





REGISTERED NUMBER: 11804622 (England and Wales)





ACCOUNTANTS: K J Pittalis and Partners LLP
Chartered Certified Accountants
Global House
303 Ballards Lane
London
N12 8NP

LIBTEK LTD (REGISTERED NUMBER: 11804622)

Statement of Financial Position
29 FEBRUARY 2024

29/2/24 28/2/23
Notes £    £   
FIXED ASSETS
Tangible assets 5 39,821 14,495

CURRENT ASSETS
Debtors 6 125,235 74,488
Cash at bank 66,811 6,126
192,046 80,614
CREDITORS
Amounts falling due within one year 7 (118,560 ) (71,755 )
NET CURRENT ASSETS 73,486 8,859
TOTAL ASSETS LESS CURRENT
LIABILITIES

113,307

23,354

CREDITORS
Amounts falling due after more than one
year

8

(112,787

)

(22,194

)
NET ASSETS 520 1,160

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 420 1,060
520 1,160

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LIBTEK LTD (REGISTERED NUMBER: 11804622)

Statement of Financial Position - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 June 2024 and were signed by:





A D Winters - Director


LIBTEK LTD (REGISTERED NUMBER: 11804622)

Notes to the Financial Statements
for the year ended 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Libtek Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

LIBTEK LTD (REGISTERED NUMBER: 11804622)

Notes to the Financial Statements - continued
for the year ended 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 March 2023 - 4,280 24,247 28,527
Additions 18,076 1,632 20,230 39,938
Disposals - - (24,247 ) (24,247 )
At 29 February 2024 18,076 5,912 20,230 44,218
DEPRECIATION
At 1 March 2023 - 3,424 10,608 14,032
Charge for year - 973 - 973
Eliminated on disposal - - (10,608 ) (10,608 )
At 29 February 2024 - 4,397 - 4,397
NET BOOK VALUE
At 29 February 2024 18,076 1,515 20,230 39,821
At 28 February 2023 - 856 13,639 14,495

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 1,610 74,488
Other debtors 123,625 -
125,235 74,488

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 19,345 1,882
Hire purchase contracts 4,323 4,049
Trade creditors - 10,896
Taxation and social security 84,398 51,848
Other creditors 10,494 3,080
118,560 71,755

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29/2/24 28/2/23
£    £   
Bank loans 96,681 12,871
Hire purchase contracts 16,106 9,323
112,787 22,194

LIBTEK LTD (REGISTERED NUMBER: 11804622)

Notes to the Financial Statements - continued
for the year ended 29 FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
29/2/24 28/2/23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instalments 17,500 -

Assets held on hire purchase are secured on the assets financed.

The bank loan has been guaranteed personally by the director.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date the director's account was overdrawn by £100,000.

Of the above loan £30,000 will be repaid within nine months of the year end.