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REGISTERED NUMBER: 10920915 (England and Wales)















Financial Statements For The Year Ended 31 January 2024

for

LBA Electrical Services Ltd

LBA Electrical Services Ltd (Registered number: 10920915)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LBA Electrical Services Ltd

Company Information
For The Year Ended 31 January 2024







DIRECTOR: J Green





REGISTERED OFFICE: Office 6 New Lodge Business Centre
Unit E & F New Lodge Industrial Estate
South Boundary Road
Kirkby
Merseyside
L33 7SF





REGISTERED NUMBER: 10920915 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

LBA Electrical Services Ltd (Registered number: 10920915)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,809 4,264

CURRENT ASSETS
Stocks 2,383 10,530
Debtors 5 81,799 68,662
Cash in hand 1 -
84,183 79,192
CREDITORS
Amounts falling due within one year 6 34,345 32,448
NET CURRENT ASSETS 49,838 46,744
TOTAL ASSETS LESS CURRENT LIABILITIES 61,647 51,008

CREDITORS
Amounts falling due after more than one
year

7

(22,537

)

(19,799

)

PROVISIONS FOR LIABILITIES (2,244 ) (810 )
NET ASSETS 36,866 30,399

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 36,865 30,398
36,866 30,399

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LBA Electrical Services Ltd (Registered number: 10920915)

Balance Sheet - continued
31 January 2024


The 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.

The financial statements were approved by the director and authorised for issue on 17 September 2024 and were signed by:





J Green - Director


LBA Electrical Services Ltd (Registered number: 10920915)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

LBA Electrical Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


LBA Electrical Services Ltd (Registered number: 10920915)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 3 ).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 14,412
Additions 11,451
At 31 January 2024 25,863
DEPRECIATION
At 1 February 2023 10,148
Charge for year 3,906
At 31 January 2024 14,054
NET BOOK VALUE
At 31 January 2024 11,809
At 31 January 2023 4,264

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 10,043 12,626
Other debtors 71,756 56,036
81,799 68,662

LBA Electrical Services Ltd (Registered number: 10920915)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 3,768 3,239
Hire purchase contracts 3,013 1,799
Trade creditors 3,150 -
Taxation and social security 23,492 20,028
Other creditors 922 7,382
34,345 32,448

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 15,973 18,750
Hire purchase contracts 6,564 1,049
22,537 19,799

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,862 7,639

8. TRANSACTIONS WITH DIRECTORS

During the year the director, Mr J Green, operated an account to which transactions of a private nature were charged. At the balance sheet date, and included in other creditors, is £52,341 (2023 - £38,734) which is owed to the company by the director. The loan has interest charged at rates of 2% and 2.25%..

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Green by virtue of his shareholding.