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REGISTERED NUMBER: 10983364 (England and Wales)















REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

L3 ENTERPRISES LIMITED

L3 ENTERPRISES LIMITED (REGISTERED NUMBER: 10983364)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Report of the Director 2

Report of the Accountants 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 6


L3 ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Mr A S Laubscher





REGISTERED OFFICE: Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ





REGISTERED NUMBER: 10983364 (England and Wales)





ACCOUNTANTS: Fusion Accountancy Limited
Marlborough House
298 Regents Park Road
London
N3 2SZ

L3 ENTERPRISES LIMITED (REGISTERED NUMBER: 10983364)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 29 FEBRUARY 2024

The director presents his report with the financial statements of the company for the year ended 29 February 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of retail sales.

DIRECTOR
Mr A S Laubscher held office during the whole of the period from 1 March 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr A S Laubscher - Director


27 November 2024

L3 ENTERPRISES LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
L3 ENTERPRISES LIMITED


In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.

You have acknowledged on the balance sheet as at year ended 29 February 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






Fusion Accountancy Limited
Marlborough House
298 Regents Park Road
London
N3 2SZ


27 November 2024

L3 ENTERPRISES LIMITED (REGISTERED NUMBER: 10983364)

INCOME STATEMENT
FOR THE YEAR ENDED 29 FEBRUARY 2024

29.2.24 28.2.23
£    £   

TURNOVER 3,263 6,523

Cost of sales 1 6,300
GROSS PROFIT 3,262 223

Administrative expenses 2,692 7,553
OPERATING PROFIT/(LOSS) 570 (7,330 )


Interest payable and similar expenses 176 248
PROFIT/(LOSS) BEFORE TAXATION 394 (7,578 )

Tax on profit/(loss) - -
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

394

(7,578

)

L3 ENTERPRISES LIMITED (REGISTERED NUMBER: 10983364)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44 176

CURRENT ASSETS
Stocks 5 5,196 5,196
Debtors 6 4,460 2,694
Cash at bank 880 1,081
10,536 8,971
CREDITORS
Amounts falling due within one year 7 167,295 164,284
NET CURRENT LIABILITIES (156,759 ) (155,313 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(156,715

)

(155,137

)

CREDITORS
Amounts falling due after more than one year 8 4,201 6,173
NET LIABILITIES (160,916 ) (161,310 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 (160,917 ) (161,311 )
SHAREHOLDERS' FUNDS (160,916 ) (161,310 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 27 November 2024 and were signed by:





Mr A S Laubscher - Director


L3 ENTERPRISES LIMITED (REGISTERED NUMBER: 10983364)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

L3 Enterprises 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.

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 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 & Machinery 25% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 33.33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Going concern disclosure
The directors have formed a judgement at the time of approving the Annual Financial Statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the directors have adopted the going concern basis in preparing the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

L3 ENTERPRISES LIMITED (REGISTERED NUMBER: 10983364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Office and Motor Computer
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023
and 29 February 2024 1,472 1,729 4,490 2,109 9,800
DEPRECIATION
At 1 March 2023 1,348 1,677 4,490 2,109 9,624
Charge for year 80 52 - - 132
At 29 February 2024 1,428 1,729 4,490 2,109 9,756
NET BOOK VALUE
At 29 February 2024 44 - - - 44
At 28 February 2023 124 52 - - 176

5. STOCKS
29.2.24 28.2.23
£    £   
Finished goods 5,196 5,196

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 4,460 2,694

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 2,343 2,343
Trade creditors 601 1,153
Other creditors 6,094 -
Director's current account 157,057 159,108
Accrued expenses 1,200 1,680
167,295 164,284

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans - 1-2 years 4,201 6,173

The bank loan is part of the BBL Scheme that was launched on 27 April 2020. The scheme is 100% government backed. The interest rate is 2.55% per year and the term of the loan is 5 years, and early repayment is possible without additional charges.

L3 ENTERPRISES LIMITED (REGISTERED NUMBER: 10983364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1 Ordinary 1 1 1

10. RESERVES
Retained
earnings
£   

At 1 March 2023 (161,311 )
Profit for the year 394
At 29 February 2024 (160,917 )

11. RELATED PARTY DISCLOSURES

Included under creditors is an amount due to A S Laubscher, the director of £157,057 (2023: £159,108). This loan is interest-free, unsecured and has no fixed terms for repayment.

The company's ultimate controlling party is AS Laubscher by virtue of his ownership of 100% of the issued share capital in the company.

12. TAXATION

At the year end, the company has carried forward tax losses amounting to £59,161 (2023: £59,688).