44
false
false
false
false
false
false
false
false
false
false
true
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false
false
false
false
false
No description of principal activity
2023-02-01
Sage Accounts Production Advanced 2023 - FRS102_2023
2
2
2
xbrli:pure
xbrli:shares
iso4217:GBP
03016979
2023-02-01
2024-01-31
03016979
2024-01-31
03016979
2023-01-31
03016979
2022-02-01
2023-01-31
03016979
2023-01-31
03016979
2022-01-31
03016979
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-02-01
2024-01-31
03016979
core:FurnitureFittings
2023-02-01
2024-01-31
03016979
core:MotorVehicles
2023-02-01
2024-01-31
03016979
bus:OrdinaryShareClass1
2023-02-01
2024-01-31
03016979
bus:Director1
2023-02-01
2024-01-31
03016979
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-01-31
03016979
core:PlantMachinery
2023-01-31
03016979
core:FurnitureFittings
2023-01-31
03016979
core:MotorVehicles
2023-01-31
03016979
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-01-31
03016979
core:PlantMachinery
2024-01-31
03016979
core:FurnitureFittings
2024-01-31
03016979
core:MotorVehicles
2024-01-31
03016979
core:PlantMachinery
2023-02-01
2024-01-31
03016979
core:WithinOneYear
2024-01-31
03016979
core:WithinOneYear
2023-01-31
03016979
core:ShareCapital
2024-01-31
03016979
core:ShareCapital
2023-01-31
03016979
core:RetainedEarningsAccumulatedLosses
2024-01-31
03016979
core:RetainedEarningsAccumulatedLosses
2023-01-31
03016979
core:CostValuation
core:Non-currentFinancialInstruments
2024-01-31
03016979
core:Non-currentFinancialInstruments
2024-01-31
03016979
core:Non-currentFinancialInstruments
2023-01-31
03016979
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-01-31
03016979
core:PlantMachinery
2023-01-31
03016979
core:FurnitureFittings
2023-01-31
03016979
core:MotorVehicles
2023-01-31
03016979
bus:SmallEntities
2023-02-01
2024-01-31
03016979
bus:AuditExempt-NoAccountantsReport
2023-02-01
2024-01-31
03016979
bus:SmallCompaniesRegimeForAccounts
2023-02-01
2024-01-31
03016979
bus:PrivateLimitedCompanyLtd
2023-02-01
2024-01-31
03016979
bus:FullAccounts
2023-02-01
2024-01-31
03016979
bus:OrdinaryShareClass1
2024-01-31
03016979
bus:OrdinaryShareClass1
2023-01-31
COMPANY REGISTRATION NUMBER:
03016979
LIMPSFIELD COMBUSTION ENGINEERING CO. LTD |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
LIMPSFIELD COMBUSTION ENGINEERING CO. LTD |
|
31 January 2024
Fixed assets
Tangible assets |
5 |
|
3,613,884 |
|
3,809,016 |
Investments |
6 |
|
2 |
|
2 |
|
|
----------- |
|
----------- |
|
|
3,613,886 |
|
3,809,018 |
|
|
|
|
|
|
Current assets
Stocks |
649,533 |
|
275,238 |
|
Debtors |
7 |
2,773,849 |
|
2,441,578 |
|
Cash at bank and in hand |
2,328,847 |
|
2,295,723 |
|
|
----------- |
|
----------- |
|
|
5,752,229 |
|
5,012,539 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
(
994,631) |
|
(
1,162,348) |
|
|
----------- |
|
----------- |
|
Net current assets |
|
4,757,598 |
|
3,850,191 |
|
|
----------- |
|
----------- |
Total assets less current liabilities |
|
8,371,484 |
|
7,659,209 |
|
|
|
|
|
|
Provisions |
|
(
214,007) |
|
(
241,758) |
|
|
----------- |
|
----------- |
Net assets |
|
8,157,477 |
|
7,417,451 |
|
|
----------- |
|
----------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
9 |
|
2 |
|
2 |
Profit and loss account |
|
8,157,475 |
|
7,417,449 |
|
|
----------- |
|
----------- |
Shareholders funds |
|
8,157,477 |
|
7,417,451 |
|
|
----------- |
|
----------- |
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
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
.
LIMPSFIELD COMBUSTION ENGINEERING CO. LTD |
|
BALANCE SHEET (continued) |
|
31 January 2024
These financial statements were approved by the
board of directors
and authorised for issue on
30 October 2024
, and are signed on behalf of the board by:
Company registration number:
03016979
LIMPSFIELD COMBUSTION ENGINEERING CO. LTD |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 JANUARY 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7 Concorde Business Centre, Airport Industrial Estate, Main Road Biggin Hill, Westerham, Kent, TN16 3YN, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold property |
- |
2% straight line |
|
Plant and machinery |
- |
10-25% straight line & 25% reducing balance |
|
Fixtures and fittings |
- |
20% reducing balance |
|
Motor vehicles |
- |
25% reducing balance |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments. Basic financial assets, which include trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Employee benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.
Defined contribution plans
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
44
(2023:
34
).
5.
Tangible assets
|
Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
|
At 1 February 2023 |
3,222,730 |
2,306,557 |
24,653 |
163,167 |
5,717,107 |
Additions |
– |
104,613 |
– |
– |
104,613 |
Disposals |
– |
– |
– |
(
31,959) |
(
31,959) |
|
----------- |
----------- |
------- |
-------- |
----------- |
At 31 January 2024 |
3,222,730 |
2,411,170 |
24,653 |
131,208 |
5,789,761 |
|
----------- |
----------- |
------- |
-------- |
----------- |
Depreciation |
|
|
|
|
|
At 1 February 2023 |
409,843 |
1,406,342 |
3,793 |
88,113 |
1,908,091 |
Charge for the year |
64,455 |
200,079 |
4,931 |
17,026 |
286,491 |
Disposals |
– |
– |
– |
(
18,705) |
(
18,705) |
|
----------- |
----------- |
------- |
-------- |
----------- |
At 31 January 2024 |
474,298 |
1,606,421 |
8,724 |
86,434 |
2,175,877 |
|
----------- |
----------- |
------- |
-------- |
----------- |
Carrying amount |
|
|
|
|
|
At 31 January 2024 |
2,748,432 |
804,749 |
15,929 |
44,774 |
3,613,884 |
|
----------- |
----------- |
------- |
-------- |
----------- |
At 31 January 2023 |
2,812,887 |
900,215 |
20,860 |
75,054 |
3,809,016 |
|
----------- |
----------- |
------- |
-------- |
----------- |
|
|
|
|
|
|
6.
Investments
|
Shares in participating interests |
|
£ |
Cost |
|
At 1 February 2023 and 31 January 2024 |
2 |
|
---- |
Impairment |
|
At 1 February 2023 and 31 January 2024 |
– |
|
---- |
|
|
Carrying amount |
|
At 31 January 2024 |
2 |
|
---- |
At 31 January 2023 |
2 |
|
---- |
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
2,464,226 |
2,100,164 |
Other debtors |
309,623 |
341,414 |
|
----------- |
----------- |
|
2,773,849 |
2,441,578 |
|
----------- |
----------- |
|
|
|
Other debtors include £53,907 (2023: £20,000) due after more than one year.
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
361,210 |
542,803 |
Corporation tax |
285,932 |
162,670 |
Social security and other taxes |
66,472 |
69,421 |
Other creditors |
281,017 |
387,454 |
|
-------- |
----------- |
|
994,631 |
1,162,348 |
|
-------- |
----------- |
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
2 |
2 |
2 |
2 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
10.
Controlling party
The immediate and ultimate parent company is Allmere Limited, a company incorporated in The British Virgin lslands.