Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Intangible assets | 4 | ||||||
Tangible assets | 5 | ||||||
Current assets | |||||||
Stocks | |||||||
Debtors | 6 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 7 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 8 | ( |
( |
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Provisions for liabilities | |||||||
Deferred tax | 11,927 | (1,434) | |||||
Other provision | (479,933) | (479,933) | |||||
( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
P J McLaughlin | |||||||
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 | |||||||||||
Turnover | |||||||||||
The following criteria must also be met before revenue is recognised: Revenue from the sale of goods is recognised when all of the following conditions are satisfied: |
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• | the Company has transferred the significant risks and rewards of ownership to the buyer; | ||||||||||
• | the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; | ||||||||||
• | the amount of revenue can be measured reliably; | ||||||||||
• | it is probable that the Company will receive the consideration due under the transaction; and | ||||||||||
• | the costs incurred or to be incurred in respect of the transaction can be measured reliably. | ||||||||||
Intangible fixed assets | |||||||||||
Other intangible fixed assets | over 3 years | ||||||||||
Tangible fixed assets | |||||||||||
Long-term leasehold property | 20% | ||||||||||
Plant and machinery | 25% | ||||||||||
Motor Vehicles | 25% | ||||||||||
Fixtures and fittings | 25% - 33% | ||||||||||
Computer equipment | 17% - 33% | ||||||||||
Investments property | |||||||||||
Stocks | |||||||||||
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. |
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Debtors | |||||||||||
Creditors | |||||||||||
Taxation | |||||||||||
Provisions | |||||||||||
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance Sheet |
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Foreign currency translation | |||||||||||
Pensions | |||||||||||
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet.The assets of the plan are held separately from the Company in independently administered funds. |
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2 | Employees | 2024 | 2023 | ||||||||
Number | Number | ||||||||||
Average number of persons employed by the company | |||||||||||
3 | Taxation | 2024 | 2023 | ||||||||
£ | £ | ||||||||||
Current year corporation tax charge | 22,834 | 148,809 | |||||||||
Prior year tax adjustment | (6,407) | - | |||||||||
Deferred Tax on timing differences | (13,361) | (215,000) | |||||||||
3,066 | (66,191) | ||||||||||
4 | Intangible fixed assets | ||||||||||
Computer software: | £ | ||||||||||
Cost | |||||||||||
At 1 July 2023 | |||||||||||
At 30 June 2024 | |||||||||||
Amortisation | |||||||||||
Provided during the year | |||||||||||
At 30 June 2024 | |||||||||||
Net book value | |||||||||||
At 30 June 2024 | |||||||||||
At 30 June 2023 | |||||||||||
5 | Tangible fixed assets | ||||||||||
Land and buildings | Plant and machinery etc | Motor vehicles | Computer equipment | Total | |||||||
£ | £ | £ | £ | ||||||||
Cost | |||||||||||
At 1 July 2023 | 350,094 | ||||||||||
Additions | - | - | 10,397 | ||||||||
At 30 June 2024 | 360,491 | ||||||||||
Depreciation | |||||||||||
At 1 July 2023 | 293,604 | ||||||||||
Charge for the year | 28,643 | ||||||||||
At 30 June 2024 | 322,247 | ||||||||||
Net book value | |||||||||||
At 30 June 2024 | 38,244 | ||||||||||
At 30 June 2023 | - | 56,490 | |||||||||
6 | Debtors | 2024 | 2023 | ||||||||
£ | £ | ||||||||||
Trade debtors | |||||||||||
Other debtors | |||||||||||
7 | Creditors: amounts falling due within one year | 2024 | 2023 | ||||||||
£ | £ | ||||||||||
Bank loans and overdrafts | |||||||||||
Trade creditors | |||||||||||
Taxation and social security costs | |||||||||||
Other creditors | |||||||||||
Bank loans of £40,000 outstanding at 30 June 2024 (2023 - £40,000) are under the terms of the Governments Coronavirus Business Interuption Loan scheme and are therefore unsecured. | |||||||||||
8 | Creditors: amounts falling due after one year | 2024 | 2023 | ||||||||
£ | £ | ||||||||||
Bank loans | |||||||||||
Bank loans of £80,000 outstanding at 30 June 2024 (2023 - £120,000) are under the terms of the Governments Coronavirus Business Interuption Loan scheme and are therefore unsecured. | |||||||||||
9 | Commitments under operating leases | 2024 | 2023 | ||||||||
£ | £ | ||||||||||
Total future minimum payments under non-cancellable operating leases | |||||||||||
10 | Controlling party | ||||||||||
11 | Other information | ||||||||||
Libra Scale Company Limited is a private company limited by shares and incorporated in England. Its registered office is: | |||||||||||
339 Exning Road | |||||||||||
Newmarket | |||||||||||
England | |||||||||||
CB8 0AT |