Registered number
14138204
ABSTRACT LVT LIMITED
Financial Accounts
For the Year Ended
30 June 2024
ABSTRACT LVT LIMITED
Company Information
Directors
S.Settle
D.Houighton
Accountants
RJT Accountancy Limited
4 Woodridge Avenue
Allesley Green
Coventry
CV5 7PN
Registered office
Unit 8
Home Farm
Meriden Road
Berkswell
CV7 7BG
Registered number
14138204
ABSTRACT LVT LIMITED
Registered number: 14138204
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,125 -
Current assets
Debtors 4 7,616 12,369
Cash at bank and in hand 8,730 5,670
16,346 18,039
Creditors: amounts falling due within one year 5 (4,362) (15,533)
Net current assets 11,984 2,506
Total assets less current liabilities 13,109 2,506
Provisions for liabilities (214) -
Net assets 12,895 2,506
Capital and reserves
Called up share capital 100 100
Profit and loss account 12,795 2,406
Shareholders' funds 12,895 2,506
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 directors report and loss account have not been delivered to the Registrar of Companies.
S.Settle
Director
Approved by the board on 1 October 2024
ABSTRACT LVT LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, section 1A, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities).
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:
Motor Vehicles over 4 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Motor vehicles
£
Cost
Additions 1,500
At 30 June 2024 1,500
Depreciation
Charge for the year 375
At 30 June 2024 375
Net book value
At 30 June 2024 1,125
4 Debtors 2024 2023
£ £
Trade debtors - 666
Other debtors 7,616 11,703
7,616 12,369
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,074 6,628
Taxation and social security costs 3,034 5,065
Other creditors 254 3,840
4,362 15,533
6 Controlling party
The company is not under the control of any one indivudual.
7 Other information
ABSTRACT LVT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 8
Home Farm
Meriden Road
Berkswell
CV7 7BG
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