LaserGrafix Sales Limited |
Registered number: |
03630734 |
Balance Sheet |
at 30 June 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
141,795 |
|
|
208,047 |
|
Current assets |
Debtors |
4 |
|
84,892 |
|
|
22,730 |
Cash at bank and in hand |
|
|
189,142 |
|
|
166,269 |
|
|
|
274,034 |
|
|
188,999 |
|
Creditors: amounts falling due within one year |
5 |
|
(127,519) |
|
|
(111,059) |
|
Net current assets |
|
|
|
146,515 |
|
|
77,940 |
|
Total assets less current liabilities |
|
|
|
288,310 |
|
|
285,987 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(10,833) |
|
|
(20,833) |
|
Provisions for liabilities |
|
|
|
(26,000) |
|
|
(27,000) |
|
|
Net assets |
|
|
|
251,477 |
|
|
238,154 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1 |
|
|
1 |
Profit and loss account |
|
|
|
251,476 |
|
|
238,153 |
|
Shareholder's funds |
|
|
|
251,477 |
|
|
238,154 |
|
|
|
|
|
|
|
|
For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
The member has not required the company to obtain an audit of its accounts in accordance with section 476 of the Act. |
The director acknowledges his 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 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. |
|
|
|
|
Tobias Peter MacKnight |
Director |
Approved by the board on 2 October 2024 |
|
LaserGrafix Sales Limited |
Notes to the Financial Statements |
for the year ended 30 June 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis and are presented in Sterling (£). |
|
|
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 which is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives, using the reducing balance method. |
|
|
Plant and machinery |
20% per year |
|
Motor vehicles |
20% per year |
|
|
Stocks |
|
Stocks are valued at the lower of cost and estimated net realisable value. Work in progress and finished goods comprises materials, direct labour and attributable production overheads. Net realisable value is based on the estimated sales price after allowing for all further costs of completion and disposal. 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, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
|
|
Creditors |
|
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
|
|
Taxation |
|
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the company has a legally enforceable right to set off current tax assets against current tax liabilities, and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority. |
|
|
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. |
|
|
Employee benefits |
|
Short-term employee benefits and contributions to defined contribution pension plans are recognised as an expense in the period in which they are incurred. The company operates stakeholder defined contribution pension schemes for the benefit of the employees and directors. The assets of the pension schemes are administered by an independent pensions provider. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
3 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Motor vehicles |
|
Plant and machinery |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 July 2023 |
39,794 |
|
1,342,206 |
|
1,382,000 |
|
Additions |
- |
|
13,847 |
|
13,847 |
|
At 30 June 2024 |
39,794 |
|
1,356,053 |
|
1,395,847 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2023 |
18,515 |
|
1,155,438 |
|
1,173,953 |
|
Charge for the year |
5,760 |
|
74,339 |
|
80,099 |
|
At 30 June 2024 |
24,275 |
|
1,229,777 |
|
1,254,052 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2024 |
15,519 |
|
126,276 |
|
141,795 |
|
At 30 June 2023 |
21,279 |
|
186,768 |
|
208,047 |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
67,132 |
|
16,467 |
|
Owed by participants |
- |
|
- |
|
Other debtors |
|
13 |
|
13 |
|
Prepayments and accrued income |
17,747 |
|
6,250 |
|
|
|
|
|
|
84,892 |
|
22,730 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
10,000 |
|
10,000 |
|
Trade creditors |
1,182 |
|
1,219 |
|
Corporation tax |
|
|
|
|
- |
|
- |
|
Taxation and social security costs |
11,876 |
|
9,816 |
|
Other creditors |
87,074 |
|
87,074 |
|
Accruals and deferred income |
17,387 |
|
2,950 |
|
|
|
|
|
|
127,519 |
|
111,059 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
10,833 |
|
20,833 |
|
|
|
|
|
|
|
|
|
|
7 |
Controlling party |
|
A Hopkins |
|
|
|
8 |
Other information |
|
|
LaserGrafix Sales Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit 4a |
|
Stratton Park |
|
Biggleswade |
|
Bedfordshire |
|
SG18 8QS |