Company registration number 12000741 (England and Wales)
LIZBEK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LIZBEK LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
LIZBEK LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Investments
3
2,339,640
2,339,640
Current assets
Trade and other receivables
4
49,856
50,298
Cash and cash equivalents
17,717
10,922
67,573
61,220
Current liabilities
5
(928,135)
(878,491)
Net current liabilities
(860,562)
(817,271)
Total assets less current liabilities
1,479,078
1,522,369
Non-current liabilities
6
(177,275)
(291,400)
Net assets
1,301,803
1,230,969
Equity
Called up share capital
7
100
100
Retained earnings
1,301,703
1,230,869
Total equity
1,301,803
1,230,969

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 9 July 2024 and are signed on its behalf by:
Miss E C Miller
Director
Company registration number 12000741 (England and Wales)
LIZBEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Lizbek Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit A5, Ropemaker Park, Diplocks Way, Hailsham, East Sussex, BN27 3GU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The company meets its day-to-day working capital requirements through loans from the directors, which have no fixed repayment dates. We have agreed not to demand repayment of these loans within the foreseeable future. On the basis of this continuing support, we consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of these loans.

1.3
Non-current investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

LIZBEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
LIZBEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
2,339,640
2,339,640
4
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
40,000
30,000
Other receivables
9,856
20,298
49,856
50,298
5
Current liabilities
2024
2023
£
£
Other payables
928,135
878,491

Other payables are secured by fixed charges over the assets of the company.

6
Non-current liabilities
2024
2023
£
£
Other payables
177,275
291,400

Other payables are secured by fixed charges over the assets of the company.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
50
50
50
50
Ordinary B of £1 each
50
50
50
50
100
100
100
100
2024-03-312023-04-01false09 July 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMiss E C MillerMiss R J Millerfalsefalse120007412023-04-012024-03-31120007412024-03-31120007412023-03-3112000741core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3112000741core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3112000741core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3112000741core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3112000741core:ShareCapital2024-03-3112000741core:ShareCapital2023-03-3112000741core:RetainedEarningsAccumulatedLosses2024-03-3112000741core:RetainedEarningsAccumulatedLosses2023-03-3112000741core:ShareCapitalOrdinaryShares2024-03-3112000741core:ShareCapitalOrdinaryShares2023-03-3112000741bus:Director12023-04-012024-03-31120007412022-04-012023-03-3112000741core:CurrentFinancialInstruments2023-03-3112000741core:WithinOneYear2024-03-3112000741core:WithinOneYear2023-03-3112000741core:CurrentFinancialInstruments2024-03-3112000741core:Non-currentFinancialInstruments2024-03-3112000741core:Non-currentFinancialInstruments2023-03-3112000741bus:PrivateLimitedCompanyLtd2023-04-012024-03-3112000741bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3112000741bus:FRS1022023-04-012024-03-3112000741bus:AuditExemptWithAccountantsReport2023-04-012024-03-3112000741bus:Director22023-04-012024-03-3112000741bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP