Registered number
04446026
Licence Store Investment Limited
Filleted Accounts
31 May 2024
Licence Store Investment Limited
Registered number: 04446026
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 17,600 17,600
Current assets
Debtors 4 110,219 110,219
Cash at bank and in hand 5,591 7,671
115,810 117,890
Creditors: amounts falling due within one year 5 (224,050) (223,599)
Net current liabilities (108,240) (105,709)
Net liabilities (90,640) (88,109)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (91,640) (89,109)
Shareholder's funds (90,640) (88,109)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 profit and loss account has not been delivered to the Registrar of Companies.
P Fichot
Director
Approved by the board on 27 September 2024
Licence Store Investment Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 June 2023 17,600
At 31 May 2024 17,600
4 Debtors 2024 2023
£ £
Trade debtors 31,247 31,247
Other debtors 78,972 78,972
110,219 110,219
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 86,752 87,693
Director's loan account 26,299 24,905
Other creditors 110,999 111,001
224,050 223,599
6 Controlling party
Mr Fichot the company director, controls the company by virtue of his 100% shareholdings.
7 Other information
Licence Store Investment Limited is a private company limited by shares and incorporated in England. Its registered office is:
Brenchley House
School Road
Charing
Kent
TN27 0JW
8 Going concern
The accounts have been prepared on the going concern basis. The shareholders have confirmed
that they will continue to provide finance to enable the company to meet its financial obligations
for a period of at least one year.
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