1 February 2023 v2024.49.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP083819992023-02-012024-01-31083819992024-01-31083819992023-01-3108381999core:WithinOneYear2024-01-3108381999core:WithinOneYear2023-01-3108381999core:AfterOneYear2024-01-3108381999core:AfterOneYear2023-01-3108381999core:ShareCapital2024-01-3108381999core:ShareCapital2023-01-3108381999core:RetainedEarningsAccumulatedLosses2024-01-3108381999core:RetainedEarningsAccumulatedLosses2023-01-3108381999bus:Director12023-02-012024-01-3108381999bus:RegisteredOffice2023-02-012024-01-3108381999core:OtherResidualIntangibleAssets2023-02-012024-01-3108381999core:PlantMachinery2023-02-012024-01-3108381999core:OfficeEquipment2023-02-012024-01-3108381999core:FurnitureFittingsToolsEquipment2023-02-012024-01-31083819992022-02-012023-01-3108381999core:IntangibleAssetsOtherThanGoodwill2023-02-0108381999core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3108381999core:IntangibleAssetsOtherThanGoodwill2024-01-3108381999core:PlantMachinery2023-02-0108381999core:PlantMachinery2024-01-3108381999core:PlantMachinery2023-01-310838199912023-02-012024-01-3108381999countries:EnglandWales2023-02-012024-01-3108381999bus:AuditExemptWithAccountantsReport2023-02-012024-01-3108381999bus:PrivateLimitedCompanyLtd2023-02-012024-01-3108381999bus:SmallEntities2023-02-012024-01-3108381999bus:FullAccounts2023-02-012024-01-31
Company registration number:
08381999
The LED Shed Ltd
Unaudited Filleted Financial Statements for the year ended
31 January 2024
The LED Shed Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of The LED Shed Ltd
Year ended
31 January 2024
As described on the statement of financial position, the Board of Directors of
The LED Shed Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 January 2024
, which comprise the income statement, statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Accounting & Office Management Ltd
MAAT
Garfield House Farm
Midhopestones
SHEFFIELD
South Yorkshire
S36 4GW
United Kingdom
Date:
15 October 2024
The LED Shed Ltd
Statement of Financial Position
31 January 2024
20242023
Note££
Fixed assets    
Intangible assets 5
2,212
  -  
Tangible assets 6
148,269
 
137,884
 
150,481
 
137,884
 
Current assets    
Debtors 7
288,354
 
117,430
 
Cash at bank and in hand
767,578
 
872,748
 
1,055,932
 
990,178
 
Creditors: amounts falling due within one year 8
(208,019
)
(135,001
)
Net current assets
847,913
 
855,177
 
Total assets less current liabilities 998,394   993,061  
Creditors: amounts falling due after more than one year 9
(7,092
)
(35,462
)
Net assets
991,302
 
957,599
 
Capital and reserves    
Called up share capital
(99,996
)
6
 
Profit and loss account
1,091,298
 
957,593
 
Shareholders funds
991,302
 
957,599
 
For the year ending
31 January 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
11 October 2024
, and are signed on behalf of the board by:
Mr Thomas William Levitt
Director
Company registration number:
08381999
The LED Shed Ltd
Notes to the Financial Statements
Year ended
31 January 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit C1 Weeland Park
,
Kellingley Road
,
Knottingley
,
WF11 8FE
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied for sale or hire, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Intangible assets

I
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Other intangible assets
25% straight line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% straight line
Office equipment
25% straight line
Fixtures, fittings and equipment
25% straight line

Finance leases and hire purchase contracts

Leases are classified as finance leases whenever the terms of the leases transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under hire purchase and finance lease agreements are added to stock at their fair value . The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight-line basis.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
3
(2023:
3.00
).

5 Intangible assets

Other intangible assets
£
Cost  
At
1 February 2023
2,231
 
Additions
2,950
 
At
31 January 2024
5,181
 
Amortisation  
At
1 February 2023
2,231
 
Charge
738
 
At
31 January 2024
2,969
 
Carrying amount  
At
31 January 2024
2,212
 
At 31 January 2023 -  

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 February 2023
2,423,343
 
Additions
197,693
 
At
31 January 2024
2,621,036
 
Depreciation  
At
1 February 2023
2,285,459
 
Charge
187,308
 
At
31 January 2024
2,472,767
 
Carrying amount  
At
31 January 2024
148,269
 
At 31 January 2023
137,884
 

7 Debtors

20242023
££
Trade debtors
204,830
 
78,181
 
Other debtors
83,524
 
39,249
 
288,354
 
117,430
 

8 Creditors: amounts falling due within one year

20242023
££
Trade creditors
25,618
 
8,905
 
Taxation and social security
113,463
 
96,032
 
Other creditors
68,938
 
30,064
 
208,019
 
135,001
 

9 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
7,092
 
35,462