Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-06-01No description of principal activity66falsetruefalse 06893796 2023-06-01 2024-05-31 06893796 2023-06-01 2024-05-31 06893796 2022-06-01 2023-05-31 06893796 2024-05-31 06893796 2023-05-31 06893796 2022-06-01 06893796 c:Director1 2023-06-01 2024-05-31 06893796 d:Buildings 2023-06-01 2024-05-31 06893796 d:Buildings 2024-05-31 06893796 d:Buildings 2023-05-31 06893796 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06893796 d:Buildings d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 06893796 d:PlantMachinery 2023-06-01 2024-05-31 06893796 d:PlantMachinery 2024-05-31 06893796 d:PlantMachinery 2023-05-31 06893796 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06893796 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 06893796 d:MotorVehicles 2023-06-01 2024-05-31 06893796 d:MotorVehicles 2024-05-31 06893796 d:MotorVehicles 2023-05-31 06893796 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06893796 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 06893796 d:OfficeEquipment 2023-06-01 2024-05-31 06893796 d:OfficeEquipment 2024-05-31 06893796 d:OfficeEquipment 2023-05-31 06893796 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06893796 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 06893796 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06893796 d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 06893796 d:CurrentFinancialInstruments 2024-05-31 06893796 d:CurrentFinancialInstruments 2023-05-31 06893796 d:Non-currentFinancialInstruments 2024-05-31 06893796 d:Non-currentFinancialInstruments 2023-05-31 06893796 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 06893796 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 06893796 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 06893796 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 06893796 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 06893796 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 06893796 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 06893796 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 06893796 d:ShareCapital 2024-05-31 06893796 d:ShareCapital 2023-05-31 06893796 d:ShareCapital 2022-06-01 06893796 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 06893796 d:RetainedEarningsAccumulatedLosses 2024-05-31 06893796 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 06893796 d:RetainedEarningsAccumulatedLosses 2023-05-31 06893796 d:RetainedEarningsAccumulatedLosses 2022-06-01 06893796 c:FRS102 2023-06-01 2024-05-31 06893796 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 06893796 c:FullAccounts 2023-06-01 2024-05-31 06893796 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06893796 d:HirePurchaseContracts d:WithinOneYear 2024-05-31 06893796 d:HirePurchaseContracts d:WithinOneYear 2023-05-31 06893796 d:HirePurchaseContracts d:MoreThanFiveYears 2024-05-31 06893796 d:HirePurchaseContracts d:MoreThanFiveYears 2023-05-31 06893796 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-05-31 06893796 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-05-31 06893796 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 06893796 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 06893796 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-05-31 06893796 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-31 06893796 d:LeasedAssetsHeldAsLessee 2024-05-31 06893796 d:LeasedAssetsHeldAsLessee 2023-05-31 06893796 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number:  06893796














LCT INTERIOR SOLUTIONS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


 
LCT INTERIOR SOLUTIONS LIMITED
REGISTERED NUMBER: 06893796

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
77,524
56,271

  
77,524
56,271

Current assets
  

Stocks
 5 
8,274
5,258

Debtors: amounts falling due within one year
 6 
26,298
8,035

Cash at bank and in hand
 7 
89,994
26,982

  
124,566
40,275

Creditors: amounts falling due within one year
 8 
(122,312)
(68,784)

Net current assets/(liabilities)
  
 
 
2,254
 
 
(28,509)

Total assets less current liabilities
  
79,778
27,762

Creditors: amounts falling due after more than one year
 9 
(46,562)
(21,905)

Provisions for liabilities
  

Deferred tax
 12 
(8,900)
(4,500)

  
 
 
(8,900)
 
 
(4,500)

Net assets
  
24,316
1,357


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
24,216
1,257

  
24,316
1,357


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
LCT INTERIOR SOLUTIONS LIMITED
REGISTERED NUMBER: 06893796
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 February 2025.




C J Davies
Director

Page 2

 
LCT INTERIOR SOLUTIONS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 June 2023
100
1,257
1,357



Profit for the year
-
54,372
54,372

Dividends: Equity capital
-
(31,413)
(31,413)


At 31 May 2024
100
24,216
24,316


The notes on pages 4 to 11 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 June 2022
100
8,858
8,958



Profit for the year
-
16,736
16,736

Dividends: Equity capital
-
(24,337)
(24,337)


At 31 May 2023
100
1,257
1,357


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
LCT INTERIOR SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

LCT Interior Solutions Limited is a private limited company, limited by shares, incorporated in England and Wales.  Its registered office is The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ.  The company number is 06893796.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 4

 
LCT INTERIOR SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 5

 
LCT INTERIOR SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as below.

Depreciation is provided on the following basis:

Property improvements
-
not depreciated
Plant & machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
LCT INTERIOR SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023







Employees
6
6

Page 7

 
LCT INTERIOR SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Property  imprvmnts
Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
4,812
41,604
47,087
33,830
127,333


Additions
-
-
39,580
5,200
44,780


Disposals
-
-
(9,800)
-
(9,800)



At 31 May 2024

4,812
41,604
76,867
39,030
162,313



Depreciation


At 1 June 2023
-
30,763
22,971
17,328
71,062


Charge for the year on owned assets
-
1,626
68
5,425
7,119


Charge for the year on financed assets
-
-
15,672
-
15,672


Disposals
-
-
(9,064)
-
(9,064)



At 31 May 2024

-
32,389
29,647
22,753
84,789



Net book value



At 31 May 2024
4,812
9,215
47,220
16,277
77,524



At 31 May 2023
4,812
10,841
24,116
16,502
56,271

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
47,015
23,107

47,015
23,107

Page 8

 
LCT INTERIOR SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Stocks

2024
2023
£
£

Raw materials and consumables
8,274
5,258

8,274
5,258



6.


Debtors

2024
2023
£
£


Trade debtors
26,298
5,463

Other debtors
-
2,572

26,298
8,035



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
89,994
26,982

89,994
26,982



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
4,057
3,975

Trade creditors
22,704
25,820

Corporation tax
8,638
-

Other taxation and social security
24,337
13,187

Obligations under finance lease and hire purchase contracts
8,385
3,114

Other creditors
37,245
21,188

Accruals and deferred income
16,946
1,500

122,312
68,784


Loans and hire purchase liabilities are secured upon the assets to which they relate.

Page 9

 
LCT INTERIOR SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
4,534
8,587

Net obligations under finance leases and hire purchase contracts
42,028
13,318

46,562
21,905


Loans and hire purchase liabilities are secured upon the assets to which they relate.


10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
4,057
3,975

Amounts falling due 1-2 years

Bank loans
4,180
4,078

Amounts falling due 2-5 years

Bank loans
354
4,509


8,591
12,562



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
10,679
4,259

Between 1-5 years
36,681
15,262

Over 5 years
10,164
-

57,524
19,521

Page 10

 
LCT INTERIOR SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

12.


Deferred taxation




2024


£






At beginning of year
(4,500)


Charged to profit or loss
(4,400)



At end of year
(8,900)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(8,900)
(4,500)

(8,900)
(4,500)


13.


Ultimate controlling party

The directors believe there is no ultimate controlling party.

 
Page 11