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REGISTERED NUMBER: SC416555 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LEBCO LIMITED

LEBCO LIMITED (REGISTERED NUMBER: SC416555)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEBCO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Silvana Younes Bilan



SECRETARY: Silvana Younes Bilan



REGISTERED OFFICE: 27 Blackthorn Street
Springburn
Glasgow
G22 6EJ



REGISTERED NUMBER: SC416555 (Scotland)



ACCOUNTANTS: Stewart Gilmour & Co.
3rd Floor
St George's Buildings
5 St Vincent Place
Glasgow
G1 2DH



BANKERS: The Royal Bank of Scotland plc
Glasgow City Branch
10 Gordon Street
Glasgow
G1 3PL

LEBCO LIMITED (REGISTERED NUMBER: SC416555)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 4,452
Investment property 6 52,000 -
52,000 4,452

CURRENT ASSETS
Cash at bank 4,585 2,205

CREDITORS
Amounts falling due within one year 7 88,134 38,119
NET CURRENT LIABILITIES (83,549 ) (35,914 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(31,549

)

(31,462

)

PROVISIONS FOR LIABILITIES - 264
NET LIABILITIES (31,549 ) (31,726 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (31,649 ) (31,826 )
SHAREHOLDERS' FUNDS (31,549 ) (31,726 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LEBCO LIMITED (REGISTERED NUMBER: SC416555)

BALANCE SHEET - continued
31 MARCH 2024


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 director and authorised for issue on 21 March 2025 and were signed by:





Silvana Younes Bilan - Director


LEBCO LIMITED (REGISTERED NUMBER: SC416555)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Lebco Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Going concern
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 as modified by the revaluation of certain assets.

The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. At 31 March 2024 the company's net liabilities exceeded its current assets by £31,549. The company is thus dependant on the continuing financial support of its director and other creditors. The director is confident of being able to maintain sufficient financial support for the company and of its long-term trading prospects and on this basis considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of financial support.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

In accordance with FRS 102, investment properties are revalued annually at fair value. Changes to fair value are reflected in the profit and loss account No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principles set out in FRS 102. The director considers that, because these properties are not held for their consumption, but for their investment potential, to depreciate them would not give a true and fair view, and that it is necessary to apply FRS 102 in order to give a true and fair view.

If this departure from the Act had not been made, the reported net profit for the financial year would have been reduced by additional depreciation charges of £1,040 (2023 : £Nil)).


LEBCO LIMITED (REGISTERED NUMBER: SC416555)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 8,400
Disposals (8,400 )
At 31 March 2024 -
AMORTISATION
At 1 April 2023 8,400
Eliminated on disposal (8,400 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

LEBCO LIMITED (REGISTERED NUMBER: SC416555)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 April 2023 9,726 5,221 14,947
Disposals (9,726 ) (5,221 ) (14,947 )
At 31 March 2024 - - -
DEPRECIATION
At 1 April 2023 6,664 3,831 10,495
Eliminated on disposal (6,664 ) (3,831 ) (10,495 )
At 31 March 2024 - - -
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 3,062 1,390 4,452

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 52,000
At 31 March 2024 52,000
NET BOOK VALUE
At 31 March 2024 52,000

Fair value at 31 March 2024 is represented by:
£   
Cost 52,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 52,000 -

The investment property was valued on an open market basis on 31 March 2024 by director Silvana Bilan .

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 88,134 38,119

LEBCO LIMITED (REGISTERED NUMBER: SC416555)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary £1 50 50
25 Ordinary 'A' £1 25 25
25 Ordinary 'B' £1 25 25
100 100

9. ULTIMATE CONTROLLING PARTY

The company is under the immediate and ultimate control of director Silvana Bilan and of Joe Bilan who, together, own all of the issued share capital.