Liscombe Investments Ltd 13051967 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is personal investment company. Digita Accounts Production Advanced 6.30.9574.0 true 13051967 2023-07-01 2024-06-30 13051967 2024-06-30 13051967 core:RetainedEarningsAccumulatedLosses 2024-06-30 13051967 core:ShareCapital 2024-06-30 13051967 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 13051967 bus:SmallEntities 2023-07-01 2024-06-30 13051967 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 13051967 bus:FullAccounts 2023-07-01 2024-06-30 13051967 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 13051967 bus:RegisteredOffice 2023-07-01 2024-06-30 13051967 bus:Director1 2023-07-01 2024-06-30 13051967 bus:Director1 1 2023-07-01 2024-06-30 13051967 bus:Director2 2023-07-01 2024-06-30 13051967 bus:Director2 2 2023-07-01 2024-06-30 13051967 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13051967 core:OtherRelatedParties 2023-07-01 2024-06-30 13051967 countries:England 2023-07-01 2024-06-30 13051967 2022-12-01 2023-06-30 13051967 2023-06-30 13051967 core:RetainedEarningsAccumulatedLosses 2023-06-30 13051967 core:ShareCapital 2023-06-30 13051967 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 13051967

Liscombe Investments Ltd

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2024

 

Liscombe Investments Ltd

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

Liscombe Investments Ltd

(Registration number: 13051967)
Abridged Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Debtors

234,006

106

Cash at bank and in hand

 

343,044

311,500

 

577,050

311,606

Creditors: Amounts falling due within one year

(694)

(311,707)

Net assets/(liabilities)

 

576,356

(101)

Capital and reserves

 

Called up share capital

106

106

Profit and loss account

576,250

(207)

Total equity

 

576,356

(101)

For the financial year ending 30 June 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 of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 17 September 2024 and signed on its behalf by:
 

Mr J Liscombe

Director

Mrs C Liscombe

Director

 

Liscombe Investments Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Haydon Farm
Haydon
Somerset
TA3 5AB

These financial statements were authorised for issue by the Board on 17 September 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Liscombe Investments Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

4

Related party transactions

Advances to directors


Mr J Liscombe

During the period Mr J Liscombe went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £104,193 (2023 - £Nil). At the year end the amount outstanding from Mr J Liscombe was £104,193 (2023 - £Nil). Interest has been charged at the commercial rate.


Mrs C Liscombe

During the period Mrs C Liscombe went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £104,192 (2023 - £Nil). At the year end the amount outstanding from Mrs C Liscombe was £104,192 (2023 - £Nil). Interest has been charged at the commercial rate.

Summary of transactions with other related parties

During the year, a loan of £577,344 to Liscombe Investments Limited from Oakbank Residential Home Limited was waived. Oak Bank Residential Home Limited is a company owned by James Liscombe and Claire Liscombe who are also the joint shareholders and directors of Liscombe Investments Limited.

Included within other debtors is an interest free loan of £22,921 which has been provided to Liscombe West Limited to Liscombe Investments Limited, in which both of the directors are directors and shareholders, and is repayable on demand.