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REGISTERED NUMBER: 02613181 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Lasercroft Limited

Lasercroft Limited (Registered number: 02613181)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lasercroft Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr J A Carmichael





REGISTERED OFFICE: 9 Hedon Road
Kingston upon Hull
East Yorkshire
HU9 1LH





REGISTERED NUMBER: 02613181 (England and Wales)





ACCOUNTANTS: Harris Lacey and Swain
Suite 1
The Riverside Building
Hessle
East Yorkshire
HU13 0DZ

Lasercroft Limited (Registered number: 02613181)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 88,350 87,694
Investments 5 43,418 66,450
131,768 154,144

CURRENT ASSETS
Stocks 6 43,683 31,169
Debtors 7 473,431 531,518
Cash at bank and in hand 230,045 328,361
747,159 891,048
CREDITORS
Amounts falling due within one year 8 262,845 333,791
NET CURRENT ASSETS 484,314 557,257
TOTAL ASSETS LESS CURRENT
LIABILITIES

616,082

711,401

CREDITORS
Amounts falling due after more than one
year

9

(13,334

)

(23,333

)

PROVISIONS FOR LIABILITIES 10 (15,167 ) (14,938 )
NET ASSETS 587,581 673,130

CAPITAL AND RESERVES
Called up share capital 184 271
Share premium 53,920 53,920
Capital redemption reserve 2,906 2,819
Retained earnings 530,571 616,120
587,581 673,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Lasercroft Limited (Registered number: 02613181)

Balance Sheet - continued
31 March 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 20 August 2024 and were signed by:





Mr J A Carmichael - Director


Lasercroft Limited (Registered number: 02613181)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Lasercroft Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors' best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.

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

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably; it is probable that future economic benefits will flow to the entity and when the specific criteria relating to each of the company's sales channels have been met, as described below.

The company provides flooring solutions to other organisations, these services are provided on a time and material basis or as a fixed price contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost, 20% on cost and Straight line over 25 years
Fixtures and fittings - 25% on cost and 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost and 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.


Lasercroft Limited (Registered number: 02613181)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 17 ) .

Lasercroft Limited (Registered number: 02613181)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 28,032 2,231 116,686 18,420 165,369
Additions 28,891 937 19,995 - 49,823
Disposals - - (38,294 ) - (38,294 )
At 31 March 2024 56,923 3,168 98,387 18,420 176,898
DEPRECIATION
At 1 April 2023 19,810 1,301 51,991 4,573 77,675
Charge for year 5,267 768 26,585 3,377 35,997
Eliminated on disposal - - (25,124 ) - (25,124 )
At 31 March 2024 25,077 2,069 53,452 7,950 88,548
NET BOOK VALUE
At 31 March 2024 31,846 1,099 44,935 10,470 88,350
At 31 March 2023 8,222 930 64,695 13,847 87,694

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 66,450
Disposals (25,927 )
Revaluations 2,895
At 31 March 2024 43,418
NET BOOK VALUE
At 31 March 2024 43,418
At 31 March 2023 66,450

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2023 1,450
Valuation in 2024 2,895
Cost 39,073
43,418

Lasercroft Limited (Registered number: 02613181)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. STOCKS
2024 2023
£    £   
Stocks 18,095 31,169
Work-in-progress 25,588 -
43,683 31,169

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 399,928 422,824
Other debtors 53,503 58,694
453,431 481,518

Amounts falling due after more than one year:
Other debtors 20,000 50,000

Aggregate amounts 473,431 531,518

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 141,343 122,472
Taxation and social security 35,917 117,352
Other creditors 75,585 83,967
262,845 333,791

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,334 23,333

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 15,167 14,938

Lasercroft Limited (Registered number: 02613181)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 14,938
Provided during year 229
Balance at 31 March 2024 15,167

11. RELATED PARTY DISCLOSURES

During the year the company made sales of £58,181 (2023: £80,272) with expenditure of £27,440 (2023: £1,090) to Techcon Flooring Services Limited, a company in which Mr J. A. Carmichael and Mr R. Clark are directors of.

At the balance sheet date there was a balance outstanding from Techcon Flooring Services Limited of £37,490 (2023: £69,501).

12. POST BALANCE SHEET EVENTS

After the balance sheet date, the company performed a purchase of own shares therefore reducing the share capital by £87.