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REGISTERED NUMBER: 10390958 (England and Wales)












Financial Statements

for the Year Ended 31 December 2023

for

LCVT LIMITED

LCVT LIMITED (REGISTERED NUMBER: 10390958)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LCVT LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S Elwell
D A Burnett





SECRETARY:





REGISTERED OFFICE: C/O Hunter Simmons Ltd
EMP Building, Unit 1
4 Solent Road
HAVANT
Hampshire
PO9 1JH





REGISTERED NUMBER: 10390958 (England and Wales)





ACCOUNTANTS: Hunter Simmons Ltd
EMP Building
Unit 1, 4 Solent Road
Havant
Portsmouth
Hampshire
PO9 1JH

LCVT LIMITED (REGISTERED NUMBER: 10390958)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,036 7,391

CURRENT ASSETS
Stocks 118,020 96,000
Debtors 5 18,113 69,864
Cash at bank 8,612 321
144,745 166,185
CREDITORS
Amounts falling due within one year 6 144,343 135,343
NET CURRENT ASSETS 402 30,842
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,438

38,233

CREDITORS
Amounts falling due after more than one year 7 17,177 28,877
NET (LIABILITIES)/ASSETS (5,739 ) 9,356

CAPITAL AND RESERVES
Called up share capital 4 4
Share premium 49,999 49,999
Retained earnings (55,742 ) (40,647 )
SHAREHOLDERS' FUNDS (5,739 ) 9,356

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

LCVT LIMITED (REGISTERED NUMBER: 10390958)

Balance Sheet - continued
31 December 2023


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 23 September 2024 and were signed on its behalf by:





S Elwell - Director


LCVT LIMITED (REGISTERED NUMBER: 10390958)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

LCVT 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.

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

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 etc - 25% on reducing balance

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.

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.

LCVT LIMITED (REGISTERED NUMBER: 10390958)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 4 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 18,326
Additions 8,190
At 31 December 2023 26,516
DEPRECIATION
At 1 January 2023 10,935
Charge for year 4,545
At 31 December 2023 15,480
NET BOOK VALUE
At 31 December 2023 11,036
At 31 December 2022 7,391

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,113 69,864

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 40,857 69,985
Taxation and social security 76,711 47,879
Other creditors 26,775 17,479
144,343 135,343

LCVT LIMITED (REGISTERED NUMBER: 10390958)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 17,177 28,877

8. ULTIMATE CONTROLLING PARTY

The controlling party is S Elwell.