IRIS Accounts Production v24.1.4.33 06057204 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure060572042023-02-28060572042024-02-29060572042023-03-012024-02-29060572042022-02-28060572042022-03-012023-02-28060572042023-02-2806057204ns16:EnglandWales2023-03-012024-02-2906057204ns15:PoundSterling2023-03-012024-02-2906057204ns11:Director12023-03-012024-02-2906057204ns11:PrivateLimitedCompanyLtd2023-03-012024-02-2906057204ns11:SmallEntities2023-03-012024-02-2906057204ns11:AuditExempt-NoAccountantsReport2023-03-012024-02-2906057204ns11:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2906057204ns11:SmallCompaniesRegimeForAccounts2023-03-012024-02-2906057204ns11:FullAccounts2023-03-012024-02-2906057204ns11:Director22023-03-012024-02-2906057204ns11:RegisteredOffice2023-03-012024-02-2906057204ns6:CurrentFinancialInstruments2024-02-2906057204ns6:CurrentFinancialInstruments2023-02-2806057204ns6:Non-currentFinancialInstruments2024-02-2906057204ns6:Non-currentFinancialInstruments2023-02-2806057204ns6:ShareCapital2024-02-2906057204ns6:ShareCapital2023-02-2806057204ns6:RetainedEarningsAccumulatedLosses2024-02-2906057204ns6:RetainedEarningsAccumulatedLosses2023-02-2806057204ns6:OwnedOrFreeholdAssetsns6:LandBuildings2023-03-012024-02-2906057204ns6:PlantMachinery2023-03-012024-02-2906057204ns6:FurnitureFittings2023-03-012024-02-2906057204ns6:ComputerEquipment2023-03-012024-02-2906057204ns6:LandBuildings2023-02-2806057204ns6:PlantMachinery2023-02-2806057204ns6:FurnitureFittings2023-02-2806057204ns6:ComputerEquipment2023-02-2806057204ns6:LandBuildings2023-03-012024-02-2906057204ns6:LandBuildings2024-02-2906057204ns6:PlantMachinery2024-02-2906057204ns6:FurnitureFittings2024-02-2906057204ns6:ComputerEquipment2024-02-2906057204ns6:LandBuildings2023-02-2806057204ns6:PlantMachinery2023-02-2806057204ns6:FurnitureFittings2023-02-2806057204ns6:ComputerEquipment2023-02-2806057204ns6:WithinOneYearns6:CurrentFinancialInstruments2024-02-2906057204ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-2806057204ns6:Secured2024-02-2906057204ns6:Secured2023-02-28
REGISTERED NUMBER: 06057204 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

L Squared Lasers Ltd

L Squared Lasers Ltd (Registered number: 06057204)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L Squared Lasers Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: N D Greatorex
M Knott





REGISTERED OFFICE: 65 Knowl Piece
Wilbury Way
HITCHIN
Hertfordshire
SG4 0TY





REGISTERED NUMBER: 06057204 (England and Wales)





ACCOUNTANTS: Godfrey Laws & Co Limited
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

L Squared Lasers Ltd (Registered number: 06057204)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 163,022 173,419

CURRENT ASSETS
Debtors 5 43,038 33,228
Cash at bank and in hand 57,372 78,712
100,410 111,940
CREDITORS
Amounts falling due within one year 6 56,405 63,334
NET CURRENT ASSETS 44,005 48,606
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,027

222,025

CREDITORS
Amounts falling due after more than one
year

7

(50,562

)

(57,116

)

PROVISIONS FOR LIABILITIES (6,200 ) (8,280 )
NET ASSETS 150,265 156,629

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 150,065 156,429
SHAREHOLDERS' FUNDS 150,265 156,629

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 directors acknowledge their 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.

L Squared Lasers Ltd (Registered number: 06057204)

Balance Sheet - 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 Board of Directors and authorised for issue on 26 June 2024 and were signed on its behalf by:





N D Greatorex - Director


L Squared Lasers Ltd (Registered number: 06057204)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

L Squared Lasers 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.

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.

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

Turnover includes the provision of quality Laser marking and engraving.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

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.

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 6 (2023 - 9 ) .

L Squared Lasers Ltd (Registered number: 06057204)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2023
and 29 February 2024 154,836 143,233 19,023 11,217 328,309
DEPRECIATION
At 1 March 2023 14,537 117,240 12,619 10,494 154,890
Charge for year 2,077 6,053 1,819 448 10,397
At 29 February 2024 16,614 123,293 14,438 10,942 165,287
NET BOOK VALUE
At 29 February 2024 138,222 19,940 4,585 275 163,022
At 28 February 2023 140,299 25,993 6,404 723 173,419

Included in cost of land and buildings is freehold land of £ 51,000 (2023 - £ 51,000 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 41,281 32,284
Other debtors 1,757 944
43,038 33,228

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 6,909 6,319
Trade creditors 1,190 2,838
Taxation and social security 43,817 50,443
Other creditors 4,489 3,734
56,405 63,334

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 50,562 57,116

L Squared Lasers Ltd (Registered number: 06057204)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 57,471 63,435

The mortgage with HSBC bank PLC is secured on the freehold property. The bank also holds a debenture over the company's assets.

9. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr N Greatorex and Mr M Knott by virtue of their shareholdings.