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LBB LTD

Registered Number
05226540
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

LBB LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

M J Cooper

Registered Address

33 Queen Street
Coggeshall
Colchester
CO6 1UF

Registered Number

05226540 (England and Wales)
LBB LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3221,480-
Tangible assets418,417196,296
239,897196,296
Current assets
Debtors5364,554366,186
Cash at bank and on hand935,045674,160
1,299,5991,040,346
Creditors amounts falling due within one year6(251,817)(160,284)
Net current assets (liabilities)1,047,782880,062
Total assets less current liabilities1,287,6791,076,358
Provisions for liabilities7(59,974)(49,074)
Net assets1,227,7051,027,284
Capital and reserves
Called up share capital200200
Share premium199,960199,960
Profit and loss account1,027,545827,124
Shareholders' funds1,227,7051,027,284
The financial statements were approved and authorised for issue by the Director on 25 February 2025, and are signed on its behalf by:
M J Cooper
Director
Registered Company No. 05226540
LBB LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Amortisation is provided on Webiste development at 3 years straight line.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year3031
3.Intangible assets

Other

Total

££
Cost or valuation
Additions159,863159,863
Disposals(147,666)(147,666)
Transfers318,002318,002
At 30 June 24330,199330,199
Amortisation and impairment
Charge for year114,273114,273
Other movements142,112142,112
On disposals(147,666)(147,666)
At 30 June 24108,719108,719
Net book value
At 30 June 24221,480221,480
At 30 June 23--
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 July 23371,099371,099
Additions3,7773,777
Transfers(318,002)(318,002)
At 30 June 2456,87456,874
Depreciation and impairment
At 01 July 23174,803174,803
Charge for year5,7665,766
Other adjustments(142,112)(142,112)
At 30 June 2438,45738,457
Net book value
At 30 June 2418,41718,417
At 30 June 23196,296196,296
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables290,995328,752
Other debtors68,85737,132
Prepayments and accrued income4,702302
Total364,554366,186
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables41,46624,739
Taxation and social security182,590111,979
Other creditors5,740-
Accrued liabilities and deferred income22,02123,566
Total251,817160,284
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)59,97449,074
Total59,97449,074
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
M J Cooper038,12730037,827
038,12730037,827
Interest is charged on the loan at 2.25%