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REGISTERED NUMBER: 12010593 (England and Wales)



































Financial Statements

for the Year Ended 30 June 2024

for

Limbco Limited

Limbco Limited (Registered number: 12010593)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Limbco Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: B.M. Gardiner
Mrs M F Gardiner
R N Gardiner
A J Leach
Mrs N E Leach





SECRETARY: C.H.E. Smith





REGISTERED OFFICE: Plough Lane
Hereford
Herefordshire
HR4 0EL





REGISTERED NUMBER: 12010593 (England and Wales)





AUDITORS: Thorne Widgery Accountancy Ltd
Chartered Accountants
Statutory Auditors
2 Wyevale Business Park
Kings Acre
Hereford
Herefordshire
HR4 7BS

Limbco Limited (Registered number: 12010593)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 237,238 284,686
Tangible assets 5 214,991 223,797
Investments 6 150,000 150,074
602,229 658,557

CURRENT ASSETS
Stocks 31,916 40,772
Debtors 7 556,506 548,890
Cash at bank 848,041 537,231
1,436,463 1,126,893
CREDITORS
Amounts falling due within one year 8 (528,549 ) (374,916 )
NET CURRENT ASSETS 907,914 751,977
TOTAL ASSETS LESS CURRENT LIABILITIES 1,510,143 1,410,534

CAPITAL AND RESERVES
Called up share capital 1,100,000 1,100,000
Retained earnings 410,143 310,534
1,510,143 1,410,534

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:





B.M. Gardiner - Director


Limbco Limited (Registered number: 12010593)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Limbco 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.

Going Concern basis
The directors have considered the basis on which the financial statements have been prepared and are
confident that the going concern basis is appropriate for the following reasons:

The company's principal activity is directed towards providing support services to Medi UK Limited (Medi), whose customers are almost entirely derived from the NHS. Medi continues to record significant increases in turnover by securing additional contracts and providing an expanded product range. Limbco Limited's contract to supply support services to Medi is an essential part of the supply process. The contract has been renewed since the year end for a further period of five years.

Limbco is contracted to supply similar services to other companies.

The Directors continue to look for other opportunities for the company's specialised services and product
range.

The Directors monitor the company's financial position and consider that it is adequately financed.

Turnover
Turnover comprises invoiced sales, net of discounts and VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.



Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold Property-Straight line over 10 years
Equipment, fixtures & fittings-Straight line over 5 years and 10 years
Motor vehicles-Straight line over 3 years
Computer equipment-Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Limbco Limited (Registered number: 12010593)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 encourages its employees to provide for their retirement. All members of staff are initially enrolled into the Group Personal Pension Scheme in accordance with Auto-Enrolment legislation. The company matches contributions made by an employee to his or her personal pension scheme up to certain levels. Contributions payable under this policy are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2023 - 53 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 474,479
AMORTISATION
At 1 July 2023 189,793
Charge for year 47,448
At 30 June 2024 237,241
NET BOOK VALUE
At 30 June 2024 237,238
At 30 June 2023 284,686

Limbco Limited (Registered number: 12010593)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 136,196 98,905 13,150 147,606 395,857
Additions - 1,599 - 21,452 23,051
Disposals - - (13,150 ) - (13,150 )
At 30 June 2024 136,196 100,504 - 169,058 405,758
DEPRECIATION
At 1 July 2023 48,999 30,875 13,150 79,036 172,060
Charge for year 5,803 13,427 - 12,627 31,857
Eliminated on disposal - - (13,150 ) - (13,150 )
At 30 June 2024 54,802 44,302 - 91,663 190,767
NET BOOK VALUE
At 30 June 2024 81,394 56,202 - 77,395 214,991
At 30 June 2023 87,197 68,030 - 68,570 223,797

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023 150,074
Disposals (74 )
At 30 June 2024 150,000
NET BOOK VALUE
At 30 June 2024 150,000
At 30 June 2023 150,074

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 362,218 385,332
Other debtors 194,288 163,558
556,506 548,890

Limbco Limited (Registered number: 12010593)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 220,895 136,616
Taxation and social security 164,731 134,579
Other creditors 142,923 103,721
528,549 374,916

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Tong FCCA ACA (Senior Statutory Auditor)
for and on behalf of Thorne Widgery Accountancy Ltd