LIBRA DESIGN ASSOCIATES LIMITED

Company Registration Number:
04498976 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 May 2023

End date: 30 April 2024

LIBRA DESIGN ASSOCIATES LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2024

Company Information - 3
Report of the Directors - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 11

LIBRA DESIGN ASSOCIATES LIMITED

Company Information

for the Period Ended 30 April 2024




Director: JOHN LILLINGTON
Secretary: KATHARINE MARY MARGARET LILLINGTON
Registered office: Quarr Hill House
Quarr Hill
Binstead
Ryde
Isle Of Wight
PO33 4EH
Company Registration Number: 04498976 (England and Wales)

LIBRA DESIGN ASSOCIATES LIMITED

Directors' Report Period Ended 30 April 2024

The directors present their report with the financial statements of the company for the period ended 30 April 2024

Principal Activities

Electronics Design and Development Contractor

Directors

The directors shown below have held office during the whole of the period from 01 May 2023 to 30 April 2024
JOHN LILLINGTON

Secretary
KATHARINE MARY MARGARET LILLINGTON

This report was approved by the board of directors on 27 January 2025
And Signed On Behalf Of The Board By:

Name: JOHN LILLINGTON
Status: Director

LIBRA DESIGN ASSOCIATES LIMITED

Balance sheet

As at 30 April 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 5 12,506 15,091
Total fixed assets: 12,506 15,091
Current assets
Debtors: 6 421 2,695
Cash at bank and in hand: 2,926 7,317
Total current assets: 3,347 10,012
Creditors: amounts falling due within one year: 7 ( 16,092 ) ( 7,551 )
Net current assets (liabilities): ( 12,745 ) 2,461
Total assets less current liabilities: ( 239 ) 17,552
Creditors: amounts falling due after more than one year: 8 ( 208 )
Provision for liabilities: ( 1,816 ) ( 2,249 )
Total net assets (liabilities): ( 2,263 ) 15,303

The notes form part of these financial statements

LIBRA DESIGN ASSOCIATES LIMITED

Balance sheet continued

As at 30 April 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 10 10
Profit and loss account: ( 2,273 ) 15,293
Shareholders funds: ( 2,263 ) 15,303

For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 27 January 2025
And Signed On Behalf Of The Board By:

Name: JOHN LILLINGTON
Status: Director

The notes form part of these financial statements

LIBRA DESIGN ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The Turnover shown in the Profit and Loss account represents revenue earned during the period, exclusive of VAT.

    Going Concern: The director has undertaken to continue to support the company through a director's loan.

    Tangible fixed assets depreciation policy

    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.
    Office and Computer Equipment - 25% on reducing balance.
    Land and Office Building - 10% on reducing balance.

    Other accounting policies

    Research and Development Expenditure on research and development is written off in the year in which it is incurred. Director's Remuneration £600 (2023, £600). Operating Profit or (loss) is stated after charging Depreciation owned assets of £3514 (£4308 in previous year). No Dividends (£Nil) were paid in the year (£Nil in previous year).

LIBRA DESIGN ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 2 2

LIBRA DESIGN ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 3. Off balance sheet disclosure

    No

LIBRA DESIGN ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Dividends


2024
£

2023
£
Dividends paid 0 0

LIBRA DESIGN ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Tangible Assets

Total
Cost £
At 01 May 2023 91,425
Additions 929
Disposals -
Revaluations -
Transfers -
At 30 April 2024 92,354
Depreciation
At 01 May 2023 76,334
Charge for year 3,514
On disposals -
Other adjustments -
At 30 April 2024 79,848
Net book value
At 30 April 2024 12,506
At 30 April 2023 15,091

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.
Office and Computer Equipment - 25% on reducing balance.
Land and Office Building - 10% on reducing balance.

LIBRA DESIGN ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 6. Debtors

    VAT £421

LIBRA DESIGN ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

7. Creditors: amounts falling due within one year note

Trade Creditors £980
Taxation and Social Security £10
Other Creditors £15102
(other creditors represents the director's loan account)

LIBRA DESIGN ASSOCIATES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

8. Creditors: amounts falling due after more than one year note

Computer - £208