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Registration number: 12602087

LloydsVSB Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

LloydsVSB Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

LloydsVSB Limited

(Registration number: 12602087)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

15,680

20,801

Investment property

5

2,199,162

2,198,562

 

2,214,842

2,219,363

Current assets

 

Debtors

24,977

164,549

Cash at bank and in hand

 

46,351

3,277

 

71,328

167,826

Creditors: Amounts falling due within one year

(2,245,703)

(2,267,605)

Net current liabilities

 

(2,174,375)

(2,099,779)

Total assets less current liabilities

 

40,467

119,584

Provisions for liabilities

(762)

(762)

Net assets

 

39,705

118,822

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

38,705

117,822

Total equity

 

39,705

118,822

For the financial 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 of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

LloydsVSB Limited

(Registration number: 12602087)
Abridged Balance Sheet as at 31 May 2024

Approved and authorised by the Board on 13 February 2025 and signed on its behalf by:
 

Mr T Lloyd

Director

 

LloydsVSB Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the Board on 13 February 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

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

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

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

LloydsVSB Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line

Office equipment

25% straight line

Motor vehicles

25% reducing balance

Plant and machinery

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Fixtures and fittings
 £

Office equipment
£

Motor vehicles
 £

Plant and machinery
£

Cost or valuation

At 1 June 2023

1,222

6,419

21,324

802

Additions

-

1,316

-

-

At 31 May 2024

1,222

7,735

21,324

802

Depreciation

At 1 June 2023

305

3,129

5,331

201

Charge for the year

305

1,933

3,998

201

At 31 May 2024

610

5,062

9,329

402

Carrying amount

At 31 May 2024

612

2,673

11,995

400

At 31 May 2023

917

3,290

15,993

601

 

LloydsVSB Limited

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

Total
£

Cost or valuation

At 1 June 2023

29,767

Additions

1,316

At 31 May 2024

31,083

Depreciation

At 1 June 2023

8,966

Charge for the year

6,437

At 31 May 2024

15,403

Carrying amount

At 31 May 2024

15,680

At 31 May 2023

20,801

5 Investment properties

2024
£

At 1 June

2,198,562

Additions

600

At 31 May

2,199,162

There has been no valuation of investment property by an independent valuer.