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Registered Number: 02970380
England and Wales

 

 

 

LIDBETTER AND HICKS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 2,202    3,168 
2,202    3,168 
Current assets      
Stocks 4 100    2,000 
Debtors 5 25,162    28,281 
Cash at bank and in hand 10,806    10,119 
36,068    40,400 
Creditors: amount falling due within one year 6 (20,024)   (22,381)
Net current assets 16,044    18,019 
 
Total assets less current liabilities 18,246    21,187 
Creditors: amount falling due after more than one year 7 (7,288)   (11,310)
Provisions for liabilities 8 (1,993)   (1,993)
Net assets 8,965    7,884 
 

Capital and reserves
     
Called up share capital 36    36 
Profit and loss account 8,929    7,848 
Shareholders' funds 8,965    7,884 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 20 November 2024 and were signed by:


-------------------------------
Stuart Andrew Hibbitt
Director
1
General Information
Lidbetter And Hicks Limited is a private company, limited by shares, registered in England and Wales, registration number 02970380, registration address Unit 24, Pillings Road, Oakham, Rutland, LE15 6QF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 September 2023 15,385    14,682    30,067 
Additions 234      234 
Disposals   (14,682)   (14,682)
At 31 August 2024 15,619      15,619 
Depreciation
At 01 September 2023 12,605    10,036    22,641 
Charge for year 812      812 
On disposals   (10,036)   (10,036)
At 31 August 2024 13,417      13,417 
Net book values
Closing balance as at 31 August 2024 2,202      2,202 
Opening balance as at 01 September 2023 (1,478)   4,646    3,168 


4.

Stocks

2024
£
  2023
£
Raw Materials 100    2,000 
100    2,000 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 23,639    25,984 
Other Debtors 1,523    2,297 
25,162    28,281 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 9,801    11,988 
Taxation and Social Security 7,487    10,393 
Other Creditors 2,736   
20,024    22,381 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 7,288    11,310 
7,288    11,310 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 1,993    1,993 
1,993    1,993 

2