Registered number
11566794
Lertik Limited
Filleted Accounts
29 February 2024
Lertik Limited
Registered number: 11566794
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,127 7,658
Current assets
Stocks 8,250 12,000
Debtors 4 442 768
Cash at bank and in hand 8,795 437
17,487 13,205
Creditors: amounts falling due within one year 5 (25,715) (38,092)
Net current liabilities (8,228) (24,887)
Net liabilities (2,101) (17,229)
Capital and reserves
Called up share capital 100 100
Profit and loss account (2,201) (17,329)
Shareholder's funds (2,101) (17,229)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Mahmut Anlar
Director
Approved by the board on 11 November 2024
Lertik Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 12,189
At 29 February 2024 12,189
Depreciation
At 1 March 2023 4,531
Charge for the year 1,531
At 29 February 2024 6,062
Net book value
At 29 February 2024 6,127
At 28 February 2023 7,658
4 Debtors 2024 2023
£ £
VAT - Input 427 13
PAYE and NI 15 -
Mahmut Anlar (Director) - 499
Ebay - 256
442 768
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 5,352
Suppliers 97 8,214
Taxation and social security costs 4,437 1,426
Greta Vesela - 124
Caitlin Devlin Wages - 111
Iwoca Hydrogen Limited - Loan 2,964 -
Youlend ( Loan ) 3,342 -
Other creditors 14,875 22,865
25,715 38,092
6 Other information
Lertik Limited is a private company limited by shares and incorporated in England. Its registered office is:
11a School Lane
Stockport
SK4 5DE
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