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REGISTERED NUMBER: 06651908 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

LOBO CONCEPTS LIMITED

LOBO CONCEPTS LIMITED (REGISTERED NUMBER: 06651908)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LOBO CONCEPTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: Dr A F Monteiro





REGISTERED OFFICE: 31 High Street
Haverhill
Suffolk
CB9 8AD





REGISTERED NUMBER: 06651908 (England and Wales)





ACCOUNTANTS: Streets Hackett Griffey LLP
Accountants & Business Advisers
31 High Street
Haverhill
Suffolk
CB9 8AD

LOBO CONCEPTS LIMITED (REGISTERED NUMBER: 06651908)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 98,469 53,586
Cash at bank 8,806 3,001
107,275 56,587
CREDITORS
Amounts falling due within one year 6 71,129 85,778
NET CURRENT ASSETS/(LIABILITIES) 36,146 (29,191 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,146

(29,191

)

CREDITORS
Amounts falling due after more than one
year

7

38,201

20,929
NET LIABILITIES (2,055 ) (50,120 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (3,055 ) (51,120 )
SHAREHOLDERS' FUNDS (2,055 ) (50,120 )

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

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

The director acknowledges his 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.

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 10 April 2025 and were signed by:





Dr A F Monteiro - Director


LOBO CONCEPTS LIMITED (REGISTERED NUMBER: 06651908)

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

1. STATUTORY INFORMATION

Lobo Concepts 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The company has net liabilities because it made a loss before taxation of £116,682 in the year ended 31 July 2018 due to a loss of a large contract and impairment of development costs.

However the director is confident that other projects will prove profitable and so considers it appropriate to prepare the financial statements on the basis that the company is a going concern.

Turnover
Turnover is the amount derived from ordinary activities, stated after trade discounts, other sales taxes and net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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.

Research and development
Research and development expenditure is written off in the profit and loss account in the year in which it is incurred except development expenditure incurred on individual projects. Where the recoverability of this development expenditure can be foreseen with reasonable assurance it is capitalised and amortised in line with sales from the relevant projects.

LOBO CONCEPTS LIMITED (REGISTERED NUMBER: 06651908)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 17,498 5,000 801 23,299
DEPRECIATION
At 1 August 2023
and 31 July 2024 17,498 5,000 801 23,299
NET BOOK VALUE
At 31 July 2024 - - - -
At 31 July 2023 - - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,987 9,031
Other debtors 86,482 44,555
98,469 53,586

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,235 8,846
Trade creditors 791 -
Taxation and social security 26,466 16,932
Other creditors 18,637 60,000
71,129 85,778

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 38,201 20,929

LOBO CONCEPTS LIMITED (REGISTERED NUMBER: 06651908)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 9,924 -

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
Dr A F Monteiro
Balance outstanding at start of year 44,555 32,301
Amounts advanced 98,254 57,611
Amounts repaid (56,327 ) (45,357 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 86,482 44,555

Interest of £1,499, at the rate of 2.25% p.a., has been charged on the above loan and included in the balance (2023 £800).