Company Registration No. 09557876 (England and Wales)
LCS Energy Ltd
Unaudited Financial Statements
for the year ended 31 July 2024
LCS Energy Ltd
Unaudited Financial Statements
Contents
LCS Energy Ltd
Company Information
for the year ended 31 July 2024
Directors
James Martin
Gareth Stephens
James Martin
Gareth Stephens
Company Number
09557876 (England and Wales)
Registered Office
UNIT 11 HARVARD INDUSTRIAL ESTATE
KIMBOLTON
HUNTINGDON
PE28 0NJ
ENGLAND
Accountants
Infinity Accounting Ltd
Eventus Sunderland Road
Market Deeping
Peterborough
PE6 8FD
LCS Energy Ltd
Statement of financial position
as at 31 July 2024
Called up share capital not paid
-
5
Tangible assets
67,733
26,073
Cash at bank and in hand
551,641
1,313,133
Creditors: amounts falling due within one year
(260,209)
(848,107)
Net current assets
764,025
1,571,887
Total assets less current liabilities
831,758
1,597,965
Creditors: amounts falling due after more than one year
(45,321)
(49,214)
Provisions for liabilities
Deferred tax
(11,491)
(2,463)
Net assets
774,946
1,546,288
Called up share capital
205
205
Profit and loss account
774,741
1,546,083
Shareholders' funds
774,946
1,546,288
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by
James Martin
Director
Company Registration No. 09557876
LCS Energy Ltd
Notes to the Accounts
for the year ended 31 July 2024
LCS Energy Ltd is a private company, limited by shares, registered in England and Wales, registration number 09557876. The registered office is UNIT 11 HARVARD INDUSTRIAL ESTATE, KIMBOLTON, HUNTINGDON, PE28 0NJ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Motor vehicles
20% on reducing balance
Computer equipment
25% on reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Work in progress is valued at the lower of cost and net realisable value.
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
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.
LCS Energy Ltd
Notes to the Accounts
for the year ended 31 July 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
16,885
23,208
24,808
64,901
Additions
36,600
14,497
-
51,097
At 31 July 2024
53,485
37,705
24,808
115,998
At 1 August 2023
14,420
8,355
16,053
38,828
Charge for the year
1,379
5,870
2,188
9,437
At 31 July 2024
15,799
14,225
18,241
48,265
At 31 July 2024
37,686
23,480
6,567
67,733
At 31 July 2023
2,465
14,853
8,755
26,073
Carrying values included above held under finance leases and hire purchase contracts:
£
£
Amounts falling due within one year
Trade debtors
408,831
1,081,674
Accrued income and prepayments
12,008
1,167
LCS Energy Ltd
Notes to the Accounts
for the year ended 31 July 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,035
10,035
Obligations under finance leases and hire purchase contracts
3,624
-
Trade creditors
167,001
368,188
Taxes and social security
75,683
354,554
Loans from directors
304
(26,348)
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
6,947
-
Other creditors
30,000
30,000
Loans from directors
-
152
Warranty provision is made for estimated warranty claims in respect of products sold which are still under
warranty at the end of the reporting period.
8
Deferred taxation
2024
2023
Accelerated capital allowances
11,491
2,463
Provision at start of year
2,463
5,753
Charged/(credited) to the profit and loss account
9,028
(3,290)
Provision at end of year
11,491
2,463
Allotted, called up and fully paid:
1,000 Ordinary of £0.10 each
100
100
500 Ordinary B of £0.10 each
50
50
500 Ordinary C of £0.10 each
50
50
50 Ordinary G of £0.10 each
5
5
LCS Energy Ltd
Notes to the Accounts
for the year ended 31 July 2024
10
Transactions with related parties
Included in other creditors is an amount owed to Mr G Stephens, director, of £152 (2023: £152). This loan is interest free and repayable on demand.
Included in other creditors is an amount owed to Mr J Martin, director, of £152 (2023: Debtor of £26,348). This loan is interest free and repayable on demand.
During the year, rent was charged at market rate by Jagen Holdings Limited, a company owned by Mr J Martin, director, totalling £5,200.
During the year, rent was charged at market rate by Stephen 39 Investments Limited, a company owned by Mr G Stephens, director, totalling £5,200.
The controlling parties are Jagen Holdings Limited and Stephens 39 Investments Limited, by virtue of the ownership of issued ordinary share capital.
12
Average number of employees
During the year the average number of employees was 24 (2023: 28).