Registered number
02933062
LCS Group Limited
Filleted Accounts
31 May 2024
LCS Group Limited
Registered number: 02933062
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 307,024 282,516
Current assets
Stock and work in progress 16,753 28,986
Debtors 4 75,596 114,050
Cash at bank and in hand 543,720 419,739
636,069 562,775
Creditors: amounts falling due within one year 5 (188,685) (182,504)
Net current assets 447,384 380,271
Total assets less current liabilities 754,408 662,787
Provisions for liabilities (30,456) (18,675)
Net assets 723,952 644,112
Capital and reserves
Called up share capital 106 106
Profit and loss account 723,846 644,006
Shareholders' funds 723,952 644,112
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Thow
Director
Approved by the board on 5 September 2024
LCS Group Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised according to the date on which the services are provided.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 2% straight line
Fixtures, fittings and equipment 15% and 20% reducing balance and 3 years straight line
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 18 19
3 Tangible fixed assets
Land and buildings Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 197,022 76,106 103,034 376,162
Additions - 1,768 43,640 45,408
At 31 May 2024 197,022 77,874 146,674 421,570
Depreciation
At 1 June 2023 7,880 46,707 39,059 93,646
Charge for the year 3,940 6,609 10,351 20,900
At 31 May 2024 11,820 53,316 49,410 114,546
Net book value
At 31 May 2024 185,202 24,558 97,264 307,024
At 31 May 2023 189,142 29,399 63,975 282,516
4 Debtors 2024 2023
£ £
Trade debtors 71,841 111,880
Other debtors 3,755 2,170
75,596 114,050
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 83,697 105,975
Taxation and social security costs 93,916 65,138
Other creditors 11,072 11,391
188,685 182,504
6 Related party transactions
During the year dividends were paid to shareholding directors of £74,400 (2023: £45,000).

The balance owed to the directors was £389 (2023: £389) at the year end.
7 Controlling party
The company is wholly controlled by the directors.
8 Other information
LCS Group Limited is a private company limited by shares and incorporated in England. Its registered office and trading address is:
Riverside House
1 Alexandra Road
Grimsby
North East Lincolnshire
DN31 1RD
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