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REGISTERED NUMBER: 05421953 (England and Wales)















LN SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






LN SYSTEMS LIMITED (REGISTERED NUMBER: 05421953)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 4


LN SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C J Helliwell
M R Jones
A T Johnson





SECRETARY: C J Helliwell





REGISTERED OFFICE: 4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR





REGISTERED NUMBER: 05421953 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

LN SYSTEMS LIMITED (REGISTERED NUMBER: 05421953)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,780 5,734

CURRENT ASSETS
Debtors 5 22,267 28,666
Cash at bank 29,198 126,187
51,465 154,853
CREDITORS
Amounts falling due within one year 6 18,134 40,601
NET CURRENT ASSETS 33,331 114,252
TOTAL ASSETS LESS CURRENT LIABILITIES 39,111 119,986

PROVISIONS FOR LIABILITIES 1,098 1,101
NET ASSETS 38,013 118,885

CAPITAL AND RESERVES
Called up share capital 7 3 3
Retained earnings 38,010 118,882
SHAREHOLDERS' FUNDS 38,013 118,885

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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:




C J Helliwell - Director M R Jones - Director




A T Johnson - Director


LN SYSTEMS LIMITED (REGISTERED NUMBER: 05421953)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

LN Systems Limited 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.

Turnover
Turnover, exclusive of value added tax, is recognised on contracts where the company has obtained a right to the consideration. Turnover recognised in this manner is based on an assessment of the fair value of the goods and services provided at the date of financial position as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the company. Turnover, which at the financial reporting date have not been billed, are recognised as amounts recoverable on contracts.

In respect of long term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced and is recognised by reference to the stage of completion.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery etc - Over 3 years and 25% reducing balance
Computer Equipment - 33.33% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to Income statement on a straight line basis over the period of the lease.

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 the income statement in the period to which they relate.

LN SYSTEMS LIMITED (REGISTERED NUMBER: 05421953)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 16,275
Additions 465
Disposals (833 )
At 31 March 2024 15,907
DEPRECIATION
At 1 April 2023 10,541
Charge for year 418
Eliminated on disposal (832 )
At 31 March 2024 10,127
NET BOOK VALUE
At 31 March 2024 5,780
At 31 March 2023 5,734

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,409 25,093
Other debtors 858 3,573
22,267 28,666

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 346 220
Taxation and social security 9,215 35,264
Other creditors 8,573 5,117
18,134 40,601

7. CALLED UP SHARE CAPITAL

Allotted and issued
Number: Class: Nominal Value: 2024 2023
£    £   
70 Ordinary A £0.01 1 1
70 Ordinary B £0.01 1 1
60 Ordinary C £0.01 1 1
3 3