Registered number
01598102
Lydbrook Limited
Unaudited Filleted Accounts
31 July 2024
Lydbrook Limited
Registered number: 01598102
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 98 145
Tangible assets 4 19,508 25,129
19,606 25,274
Current assets
Stocks 980 2,100
Work in progress 5,793 7,622
Debtors 5 14,606 21,122
Cash at bank and in hand 28,989 43,037
50,368 73,881
Creditors: amounts falling due within one year 6 (18,605) (24,930)
Net current assets 31,763 48,951
Total assets less current liabilities 51,369 74,225
Provision for deferred tax (4,877) (4,774)
Net assets 46,492 69,451
Capital and reserves
Called up share capital 200 200
Profit and loss account 46,292 69,251
Shareholders' funds 46,492 69,451
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C R White
Director
Approved by the board on 25 April 2025
Lydbrook Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Work in progress is stated at invoice value, including attributable profit.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Intangible fixed assets £
Personalised number plates:
Cost
At 1 August 2023 470
At 31 July 2024 470
Amortisation
At 1 August 2023 325
Provided during the year 47
At 31 July 2024 372
Net book value
At 31 July 2024 98
At 31 July 2023 145
The cost of personalised number plates is being written off in equal annual instalments over the estimated economic life of 10 years.
4 Tangible fixed assets
Fixtures, fittings and equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 2,813 12,867 63,760 79,440
Additions 725 317 - 1,042
Disposals (612) (850) - (1,462)
At 31 July 2024 2,926 12,334 63,760 79,020
Depreciation
At 1 August 2023 2,366 9,427 42,518 54,311
Charge for the year 287 906 5,311 6,504
On disposals (588) (715) - (1,303)
At 31 July 2024 2,065 9,618 47,829 59,512
Net book value
At 31 July 2024 861 2,716 15,931 19,508
At 31 July 2023 447 3,440 21,242 25,129
5 Debtors 2024 2023
£ £
Trade debtors 13,335 17,670
VAT recoverable 544 2,692
Other debtors 727 760
14,606 21,122
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 14,774 20,284
Other creditors 3,831 4,646
18,605 24,930
7 Other information
Lydbrook Limited is a private company limited by shares and incorporated in England. Its registered office is:
266 Wilson Avenue
Rochester
Kent
ME1 2SR
Lydbrook Limited 01598102 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts April 2025 C R White No description of principal activity 01598102 2022-08-01 2023-07-31 01598102 core:WithinOneYear 2023-07-31 01598102 core:ShareCapital 2023-07-31 01598102 core:RetainedEarningsAccumulatedLosses 2023-07-31 01598102 2023-08-01 2024-07-31 01598102 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 01598102 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 01598102 bus:Director40 2023-08-01 2024-07-31 01598102 1 2023-08-01 2024-07-31 01598102 2 2023-08-01 2024-07-31 01598102 core:Goodwill 2023-08-01 2024-07-31 01598102 core:LandBuildings 2023-08-01 2024-07-31 01598102 core:PlantMachinery 2023-08-01 2024-07-31 01598102 core:Vehicles 2023-08-01 2024-07-31 01598102 countries:England 2023-08-01 2024-07-31 01598102 bus:FRS102 2023-08-01 2024-07-31 01598102 bus:FilletedAccounts 2023-08-01 2024-07-31 01598102 2024-07-31 01598102 core:WithinOneYear 2024-07-31 01598102 core:ShareCapital 2024-07-31 01598102 core:RetainedEarningsAccumulatedLosses 2024-07-31 01598102 core:Goodwill 2024-07-31 01598102 core:LandBuildings 2024-07-31 01598102 core:PlantMachinery 2024-07-31 01598102 core:Vehicles 2024-07-31 01598102 2023-07-31 01598102 core:Goodwill 2023-07-31 01598102 core:LandBuildings 2023-07-31 01598102 core:PlantMachinery 2023-07-31 01598102 core:Vehicles 2023-07-31 iso4217:GBP xbrli:pure