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Registration number: 03287053

Le Bureau Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Le Bureau Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

Le Bureau Ltd

(Registration number: 03287053)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

2,125,390

2,125,390

Tangible assets

5

152,312

152,312

 

2,277,702

2,277,702

Current assets

 

Stocks

6

26,085

26,085

Debtors

7

164,125

100,168

Cash at bank and in hand

 

30,383

53,836

 

220,593

180,089

Creditors: Amounts falling due within one year

8

(461,472)

(166,561)

Net current (liabilities)/assets

 

(240,879)

13,528

Total assets less current liabilities

 

2,036,823

2,291,230

Creditors: Amounts falling due after more than one year

8

(575,037)

(552,544)

Net assets

 

1,461,786

1,738,686

Capital and reserves

 

Called up share capital

9

287,776

287,776

Capital redemption reserve

937,568

937,568

Other reserves

188,476

188,476

Retained earnings

47,966

324,866

Shareholders' funds

 

1,461,786

1,738,686

For the financial year ending 31 October 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 their 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 31 July 2024
 

 

Le Bureau Ltd

(Registration number: 03287053)
Balance Sheet as at 31 October 2023

.........................................
G Hazzard
Chairman

 

Le Bureau Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is:
May House
Vicarage Close
Lingfield
Surrey
RH7 6EZ

These financial statements were authorised for issue by the director on 31 July 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.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Le Bureau Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Asset class

Depreciation method and rate

Plant & Machinery

25% reducing balance

Fixtures & fittings

15% reducing balaance

Equipment

25% reducing balance

Cars

25% reducing balance

Development costs

write off at project end-directors discretion

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

System development

none

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

 

Le Bureau Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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).

 

Le Bureau Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 November 2022

2,125,390

2,125,390

At 31 October 2023

2,125,390

2,125,390

Amortisation

Carrying amount

At 31 October 2023

2,125,390

2,125,390

At 31 October 2022

2,125,390

2,125,390

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 November 2022

5,400

51,930

158,958

(12,250)

At 31 October 2023

5,400

51,930

158,958

(12,250)

Depreciation

At 1 November 2022

1,340

10,078

37,683

2,625

At 31 October 2023

1,340

10,078

37,683

2,625

Carrying amount

At 31 October 2023

4,060

41,852

121,275

(14,875)

At 31 October 2022

4,060

41,852

121,275

(14,875)

 

Le Bureau Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Total
£

Cost or valuation

At 1 November 2022

204,038

At 31 October 2023

204,038

Depreciation

At 1 November 2022

51,726

At 31 October 2023

51,726

Carrying amount

At 31 October 2023

152,312

At 31 October 2022

152,312

 

Le Bureau Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Stocks

2023
£

2022
£

Work in progress

4,565

4,565

Other inventories

21,520

21,520

26,085

26,085

7

Debtors

Current

2023
£

2022
£

Trade debtors

97,712

33,754

Other debtors

66,413

66,414

 

164,125

100,168

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

122,998

43,624

Trade creditors

 

137,082

40,046

Taxation and social security

 

180,962

62,462

Other creditors

 

20,430

20,429

 

461,472

166,561

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

575,037

552,544

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ord of £1 each

1

1

1

1

       
 

Le Bureau Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

10

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

402,544

402,544

Bank overdrafts

22,493

-

Other borrowings

150,000

150,000

575,037

552,544

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

122,998

43,624

11

Related party transactions

 

Le Bureau Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

-

8,461