Company Registration No. 14139797 (England and Wales)
Loybekk Ltd
Unaudited accounts
for the year ended 31 May 2024
Loybekk Ltd
Unaudited accounts
Contents
Loybekk Ltd
Company Information
for the year ended 31 May 2024
Company Number
14139797 (England and Wales)
Registered Office
214 Baker Street
Enfield
EN1 3JY
England
Accountants
DNG Associates
214 Baker Street
Enfield
London
EN1 3JT
Loybekk Ltd
Statement of financial position
as at 31 May 2024
Intangible assets
28,000
31,500
Tangible assets
90,881
84,400
Cash at bank and in hand
4,195
5,834
Creditors: amounts falling due within one year
(105,950)
(63,918)
Net current liabilities
(26,097)
(26,690)
Called up share capital
100
100
Profit and loss account
92,684
89,110
Shareholders' funds
92,784
89,210
For the year ending 31 May 2024 the company was entitled to exemption from audit 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 February 2025 and were signed on its behalf by
Mrs B Odemis
Director
Company Registration No. 14139797
Loybekk Ltd
Notes to the Accounts
for the year ended 31 May 2024
Loybekk Ltd is a private company, limited by shares, registered in England and Wales, registration number 14139797. The registered office is 214 Baker Street, Enfield, EN1 3JY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20 years - straight line
Plant & machinery
18% - reducing balance
Fixtures & fittings
18% - reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Loybekk Ltd
Notes to the Accounts
for the year ended 31 May 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
50,000
30,000
15,000
95,000
Additions
-
1,000
18,052
19,052
At 31 May 2024
50,000
31,000
33,052
114,052
At 1 June 2023
2,500
5,400
2,700
10,600
Charge for the year
2,500
4,608
5,463
12,571
At 31 May 2024
5,000
10,008
8,163
23,171
At 31 May 2024
45,000
20,992
24,889
90,881
At 31 May 2023
47,500
24,600
12,300
84,400
Amounts falling due within one year
Accrued income and prepayments
11,250
11,250
Loybekk Ltd
Notes to the Accounts
for the year ended 31 May 2024
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
16,419
1,747
Taxes and social security
13,554
16,204
Other creditors
52,829
165
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 14 (2023: 5).