2022-12-012023-11-302023-11-30false03278161Lansdowne Trading Services 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Lansdowne Trading Services Limited

Registered Number
03278161
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

Lansdowne Trading Services Limited
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

C Stanley

Company Secretary

D R Sefton & Co (Secretarial) Ltd.

Registered Address

C/O Seftons
135 - 143 Union Street
Oldham
OL1 1TE

Registered Number

03278161 (England and Wales)
Lansdowne Trading Services Limited
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3790,218520,609
790,218520,609
Current assets
Stocks413,64616,293
Debtors5587,165472,007
Cash at bank and on hand48,86739,322
649,678527,622
Creditors amounts falling due within one year6(534,520)(453,979)
Net current assets (liabilities)115,15873,643
Total assets less current liabilities905,376594,252
Creditors amounts falling due after one year7(397,811)(258,679)
Provisions for liabilities9(166,211)-
Net assets341,354335,573
Capital and reserves
Called up share capital22
Profit and loss account341,352335,571
Shareholders' funds341,354335,573
The financial statements were approved and authorised for issue by the Director on 4 September 2024, and are signed on its behalf by:
C Stanley
Director
Registered Company No. 03278161
Lansdowne Trading Services Limited
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20232022
Average number of employees during the year1213
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 December 22488,999696,5951,185,594
Additions166,911277,871444,782
Disposals-(24,800)(24,800)
At 30 November 23655,910949,6661,605,576
Depreciation and impairment
At 01 December 22263,473401,512664,985
Charge for year88,20083,143171,343
On disposals-(20,970)(20,970)
At 30 November 23351,673463,685815,358
Net book value
At 30 November 23304,237485,981790,218
At 30 November 22225,526295,083520,609
4.Stocks

2023

2022

££
Raw materials and consumables13,64616,293
Total13,64616,293
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables581,724455,747
Other debtors3,6776,260
Prepayments and accrued income1,76410,000
Total587,165472,007
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables130,467152,521
Bank borrowings and overdrafts65,89473,763
Taxation and social security84,93954,915
Finance lease and HP contracts187,612144,060
Other creditors16,77616,220
Accrued liabilities and deferred income48,83212,500
Total534,520453,979
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts20,07928,727
Other creditors377,732229,952
Total397,811258,679
8.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts377,733229,952
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)166,211-
Total166,211-