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Registered number: 08781274
Laserlec Services (UK) Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Riverglade Accountancy Ltd
74 Yr Aran
Dunvant
Swansea
SA2 7PX
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08781274
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 5,500 7,700
Tangible Assets 4 33,263 29,298
38,763 36,998
CURRENT ASSETS
Stocks 5 1,800 1,800
Debtors 6 42,697 59,599
Cash at bank and in hand 43,775 54,738
88,272 116,137
Creditors: Amounts Falling Due Within One Year 7 (28,439 ) (34,021 )
NET CURRENT ASSETS (LIABILITIES) 59,833 82,116
TOTAL ASSETS LESS CURRENT LIABILITIES 98,596 119,114
Creditors: Amounts Falling Due After More Than One Year 8 (30,468 ) (20,716 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,639 ) (17,639 )
NET ASSETS 50,489 80,759
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 50,487 80,757
SHAREHOLDERS' FUNDS 50,489 80,759
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M D Nicholls
Director
01/07/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
1.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.6. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 2 2
2 2
3. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 22,000
As at 31 March 2024 22,000
Amortisation
As at 1 April 2023 14,300
Provided during the period 2,200
As at 31 March 2024 16,500
Net Book Value
As at 31 March 2024 5,500
As at 1 April 2023 7,700
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 35,064 13,800 48,864
Additions 38,470 - 38,470
Disposals (35,064 ) - (35,064 )
As at 31 March 2024 38,470 13,800 52,270
Depreciation
As at 1 April 2023 8,766 10,800 19,566
Provided during the period 8,857 994 9,851
Disposals (10,410 ) - (10,410 )
As at 31 March 2024 7,213 11,794 19,007
Net Book Value
As at 31 March 2024 31,257 2,006 33,263
As at 1 April 2023 26,298 3,000 29,298
5. Stocks
2024 2023
£ £
Stock 1,800 1,800
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 42,696 45,483
Prepayments and accrued income - 500
Other debtors 1 13,616
42,697 59,599
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 6,719
Corporation tax 19,893 19,608
Other taxes and social security 5,934 6,254
Other creditors 2,612 1,440
28,439 34,021
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 30,468 20,716
30,468 20,716
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The maturity of these amounts is as follows:
Within one year - 6,719
Between one and five years 30,468 20,716
30,468 27,435
30,468 27,435
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 100,000 100,000
100,000 100,000
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12. General Information
Laserlec Services (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08781274 . The registered office is 47 Ravensbrook, Morganstown, Cardiff, CF15 8LT.
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