Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | - | |||||
Current assets | |||||||
Debtors | 4 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 6 | ( |
( |
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Provisions for liabilities | ( |
- | |||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Share premium | |||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
Maxine Davies Kirstie Fletcher | |||||||
Director | Director | ||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
LIP SERVICE CASTING LIMITED is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
69 Loughborough Road | ||||||||
West Bridgford | ||||||||
Nottingham | ||||||||
NG2 7LA | ||||||||
The financial statements are prepared in Sterling (£) which is the functional currency of the company. | ||||||||
Turnover | ||||||||
Tangible fixed assets | ||||||||
Office equipment | over 3 years | |||||||
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. 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 within the profit and loss account. |
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Financial instruments | ||||||||
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Pensions | ||||||||
2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Plant and machinery etc | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 October 2023 | ||||||||
Additions | ||||||||
At 30 September 2024 | ||||||||
Depreciation | ||||||||
At 1 October 2023 | ||||||||
Charge for the year | ||||||||
At 30 September 2024 | ||||||||
Net book value | ||||||||
At 30 September 2024 | ||||||||
4 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Amounts owed by group undertakings | ||||||||
Other debtors | ||||||||
Amounts due after more than one year included above | ||||||||
5 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Trade creditors | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
6 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans | ||||||||
7 | Loans | 2024 | 2023 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Secured bank loans | 17,500 | 27,500 | ||||||
The company took advantage of the Bounce Back Loan Scheme (BBLS), the government guarantees 100% of the loan. | ||||||||
8 | Pension commitments | |||||||
The company operates a defined contribution pension scheme, for the directors. The assets of the scheme are held seperately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £581 (2023: £581) were due to the fund. They are included in other creditors. | ||||||||
9 | Related party transactions | |||||||
During the year, the company operated loan accounts to companies where there are directors in common. The total amount advanced during the year amount to £313 (2023: £201), there were no amounts repaid. At 30 September 2024, the balance on the loan account amounted to £77,914 (2023: £77,601) and is included in debtors. | ||||||||
10 | Controlling party | |||||||
The company is a wholly owned subsidiary of Davies and Fletcher Management Ltd, a company incorporated in England and Wales, whose registered address is 69 Loughborough Road, West Bridgford, Nottingham, NG2 6LA. The companies form a small group and consolidated accounts are not prepared. Davies and Fletcher Management Ltd is ultimately controlled by Maxine Davies and Kirstie Fletcher, directors of Lip Service Casting Limited. |