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REGISTERED NUMBER: 03163872 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LAUNCH SYSTEMS LIMITED

LAUNCH SYSTEMS LIMITED (REGISTERED NUMBER: 03163872)

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 4


LAUNCH SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: C Moore





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 03163872 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

LAUNCH SYSTEMS LIMITED (REGISTERED NUMBER: 03163872)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,141 15,111

CURRENT ASSETS
Debtors 5 80,242 77,965
Cash at bank 29,558 9,900
109,800 87,865
CREDITORS
Amounts falling due within one year 6 86,213 29,815
NET CURRENT ASSETS 23,587 58,050
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,728

73,161

CREDITORS
Amounts falling due after more than one
year

7

(34,596

)

(14,607

)

ACCRUALS AND DEFERRED INCOME - (58,525 )
NET ASSETS 132 29

CAPITAL AND RESERVES
Called up and paid share capital 100 100
Retained earnings 32 (71 )
SHAREHOLDERS' FUNDS 132 29

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 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.

LAUNCH SYSTEMS LIMITED (REGISTERED NUMBER: 03163872)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 director and authorised for issue on 19 December 2024 and were signed by:





C Moore - Director


LAUNCH SYSTEMS LIMITED (REGISTERED NUMBER: 03163872)

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


1. STATUTORY INFORMATION

Launch 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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

LAUNCH SYSTEMS LIMITED (REGISTERED NUMBER: 03163872)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 26,144 603 24,196 1,162 52,105
DEPRECIATION
At 1 April 2023 25,672 349 10,586 387 36,994
Charge for year 118 63 3,402 387 3,970
At 31 March 2024 25,790 412 13,988 774 40,964
NET BOOK VALUE
At 31 March 2024 354 191 10,208 388 11,141
At 31 March 2023 472 254 13,610 775 15,111

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,814 3,413
Directors' current accounts 78,428 74,552
80,242 77,965

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,000 -
Hire purchase contracts 4,067 4,067
Trade creditors 10,378 10,798
Tax 9,494 4,079
Social security and other taxes 940 1,168
VAT 2,056 2,011
Other creditors 5,412 6,127
Wages payable 1,566 1,565
Accruals and deferred income 46,300 -
86,213 29,815

LAUNCH SYSTEMS LIMITED (REGISTERED NUMBER: 03163872)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 6,000 -
Bank loans - 2-5 years 17,063 -
Hire purchase contracts 11,533 14,607
34,596 14,607

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director operated a loan with the company with no fixed terms of repayment or interest. Amounts advanced during the year were £78,428 (2023 - £74,552) and repayments during the year were £74,552 (2023 - £36,330). At the year end the amount owing to the company was £78,428 (2023 - £74,552).