LCD (Liquid Crystal Design) Limited Filleted Accounts Cover
LCD (Liquid Crystal Design) Limited
Company No. 06763470
Information for Filing with The Registrar
For the Year Ended
31 March 2024
LCD (Liquid Crystal Design) Limited Balance Sheet Registrar
at
31 March 2024
Company No.
06763470
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
4,5665,014
4,5665,014
Current assets
Debtors
5
84,908106,280
Cash at bank and in hand
4750,523
84,955156,803
Creditors: Amount falling due within one year
6
(86,588)
(128,169)
Net current (liabilities)/assets
(1,633)
28,634
Total assets less current liabilities
2,93333,648
Provisions for liabilities
Deferred taxation
(867)
(952)
Net assets
2,06632,696
Capital and reserves
Called up share capital
8
22
Profit and loss account
9
2,06432,694
Total equity
2,06632,696
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 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 in accordance with section 476 of the Companies Act 2006.
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.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 23 September 2024 and signed on its behalf by:
I.R. Laing
Director
23 September 2024
LCD (Liquid Crystal Design) Limited Notes to the Accounts Registrar
for the year ended 31 March 2024
1
General information
LCD (Liquid Crystal Design) Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 06763470
Its registered office is:
Office 8, No. 11 Riverside
Riverside Park
Farnham
Surrey
GU9 7UG
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
2
Accounting policies
Turnover
Turnover represents amounts receivable for design services net of VAT.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
25% Straight line
Furniture, fittings and equipment
25% Straight line
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.
Trade and other creditors
Short term 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.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are
recognised when paid. Final equity dividends are recognised when approved by the shareholders at the Annual General Meeting.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
55
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 April 2023
7,18817,50924,697
Additions
-3,0193,019
At 31 March 2024
7,18820,52827,716
Depreciation
At 1 April 2023
7,18812,49519,683
Charge for the year
-3,4673,467
At 31 March 2024
7,18815,96223,150
Net book values
At 31 March 2024
-4,5664,566
At 31 March 2023
-
5,014
5,014
5
Debtors
2024
2023
£
£
Trade debtors
64,47692,688
Loans to directors
5,644-
Other debtors
6,8825,500
Prepayments and accrued income
7,9068,092
84,908106,280
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
14,12516,804
Taxes and social security
67,892
104,360
Loans from directors
-506
Other creditors
6514,524
Accruals and deferred income
3,9201,975
86,588128,169
7
Pension
The company operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £15,345 (2023: £15,260) in the year. Contributions of £651 (2023: £4,524) were payable at the balance sheet date.
8
Share Capital
Share capital includes following:
2024
2023
£
£
2 ordinary shares of £1 each
2
2
2
2
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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