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Registration number: 09921520

Lancashire Testing Services Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Lancashire Testing Services Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Lancashire Testing Services Limited

(Registration number: 09921520)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

32,421

324

Current assets

 

Debtors

5

72,775

65,511

Cash at bank and in hand

 

52,378

45,151

 

125,153

110,662

Creditors: Amounts falling due within one year

6

(25,997)

(30,891)

Net current assets

 

99,156

79,771

Net assets

 

131,577

80,095

Capital and reserves

 

Called up share capital

120,000

120,000

Retained earnings

11,577

(39,905)

Shareholders' funds

 

131,577

80,095

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Profit and Loss.

Approved and authorised by the Board on 15 May 2025 and signed on its behalf by:
 

ME Sciama
Director

   
     
 

Lancashire Testing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Moss Rose Mill
Springfield Road
Bolton
Lancashire
BL4 8JW
United Kingdom

These financial statements were authorised for issue by the Board on 15 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The judgements (apart from those involving estimates) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

- Determination of recoverability of trade debtors. A specific provision is made against certain debts where in the opinion of the directors the debt is not fully recoverable.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and
services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have
transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured
reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred
or to be incurred in respect of the transactions can be measured reliably.

 

Lancashire Testing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property improvements

20% straight line

Plant and machinery

20% - 33% straight line


Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount
being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the
asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting
date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an
individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the
asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset
and generates cash inflows that largely independent of the cash inflows from other assets or groups of
assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from the
synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned
to those units.

 

Lancashire Testing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Financial instruments


Classification

A financial asset or a financial liability is recognised only when the entity becomes a party to the
contractual provisions of the instrument.

 Recognition and measurement

Basic financial instruments are initially recognised at the transaction price, unless the arrangement
constitutes a financing transaction, where it is recognised at the present value of the future payments
discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.


 Impairment

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of
impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment
loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal
does not result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

 

Lancashire Testing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

15,672

85,383

101,055

Additions

28,541

7,687

36,228

Disposals

-

(2,151)

(2,151)

At 31 December 2024

44,213

90,919

135,132

Depreciation

At 1 January 2024

15,348

85,383

100,731

Charge for the year

2,232

1,899

4,131

Eliminated on disposal

-

(2,151)

(2,151)

At 31 December 2024

17,580

85,131

102,711

Carrying amount

At 31 December 2024

26,633

5,788

32,421

At 31 December 2023

324

-

324

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

71,392

60,988

Prepayments

 

329

-

Deferred tax assets

1,054

4,523

 

72,775

65,511

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

4,606

1,075

Taxation and social security

20,341

8,816

Accruals and deferred income

1,050

1,000

Other creditors

-

20,000

25,997

30,891