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REGISTERED NUMBER: 05467056 (England and Wales)















LBH Accountancy Services Limited

Unaudited Financial Statements for the Year Ended 31 May 2024






LBH Accountancy Services Limited (Registered number: 05467056)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LBH Accountancy Services Limited

Company Information
for the Year Ended 31 May 2024







Directors: R Hamer
A Hamer





Secretary: A Hamer





Registered office: Craven House
32 Lee Lane
Horwich
Bolton
Lancashire
BL6 7BY





Registered number: 05467056 (England and Wales)






LBH Accountancy Services Limited (Registered number: 05467056)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 600,000 600,000
Tangible assets 5 39,526 13,888
639,526 613,888

Current assets
Debtors 6 305,666 278,638
Cash at bank 425,121 451,506
730,787 730,144
Creditors
Amounts falling due within one year 7 284,268 306,812
Net current assets 446,519 423,332
Total assets less current liabilities 1,086,045 1,037,220

Creditors
Amounts falling due after more than one
year

8

(189,123

)

(197,840

)

Provisions for liabilities 9 (10,474 ) (2,639 )
Net assets 886,448 836,741

LBH Accountancy Services Limited (Registered number: 05467056)

Statement of Financial Position - continued
31 May 2024

2024 2023
Notes £    £    £    £   
Capital and reserves
Called up share capital 10 5,400 5,400
Other reserves 2,000 2,000
Retained earnings 879,048 829,341
Shareholders' funds 886,448 836,741

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:





R Hamer - Director


LBH Accountancy Services Limited (Registered number: 05467056)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. Statutory information

LBH Accountancy Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the total invoice value, excluding value added tax, of fees receivable from accountancy services provided and from commissions receivable during the year.

Goodwill
Amortisation of goodwill has not been provided for by the company as in the opinion of the directors it has an indefinite useful economic life. The accounting policy departs from the requirement of FRS 102 to amortise goodwill over a finite period. The effect of the departure is the amortisation as required by the requirements of FRS 102 has not been accounted for. If amortisation has been accounted for the charge for the year would have amounted to £60,000 and the profit for the year reduced accordingly.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


LBH Accountancy Services Limited (Registered number: 05467056)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. Accounting policies - continued
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 20 (2023 - 21 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 June 2023
and 31 May 2024 600,000
Net book value
At 31 May 2024 600,000
At 31 May 2023 600,000

LBH Accountancy Services Limited (Registered number: 05467056)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 June 2023 13,060 32,969 46,029
Additions - 40,536 40,536
Disposals - (32,969 ) (32,969 )
At 31 May 2024 13,060 40,536 53,596
Depreciation
At 1 June 2023 12,211 19,930 32,141
Charge for year 170 1,689 1,859
Eliminated on disposal - (19,930 ) (19,930 )
At 31 May 2024 12,381 1,689 14,070
Net book value
At 31 May 2024 679 38,847 39,526
At 31 May 2023 849 13,039 13,888

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 282,263 271,483
Other debtors 23,403 7,155
305,666 278,638

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 53,471 50,977
Hire purchase contracts 3,856 16,687
Trade creditors 9,032 9,983
Taxation and social security 96,779 110,660
Other creditors 121,130 118,505
284,268 306,812

LBH Accountancy Services Limited (Registered number: 05467056)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loan 10,538 20,723
Hire purchase contracts 35,400 -
Other creditors 143,185 177,117
189,123 197,840

9. Provisions for liabilities
2024 2023
£    £   
Deferred tax
Other timing differences 7,835 (837 )
Deferred tax 2,639 3,476
10,474 2,639

Deferred
tax
£   
Balance at 1 June 2023 2,639
Provided during year 7,835
Balance at 31 May 2024 10,474

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3,520 Ordinary A shares £1.00 3,520 3,520
1,880 Ordinary B shares £1.00 1,880 1,880
5,400 5,400