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REGISTERED NUMBER: 07774084 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

LRC Electronics Limited

LRC Electronics Limited (Registered number: 07774084)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LRC Electronics Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: Mr K C Murphy





REGISTERED OFFICE: 164 Mollison Way
Edgware
Middlesex
HA8 5QZ





REGISTERED NUMBER: 07774084 (England and Wales)





ACCOUNTANTS: L P Patel & Co Limited
Accountants & Tax Advisers
164 Mollison Way
Edgware
Middlesex
HA8 5QZ

LRC Electronics Limited (Registered number: 07774084)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 4,601 5,752

CURRENT ASSETS
Inventories 2,371 3,289
Debtors 5 185 200
Cash at bank and in hand 38,291 35,577
40,847 39,066
CREDITORS
Amounts falling due within one year 6 21,922 15,124
NET CURRENT ASSETS 18,925 23,942
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,526

29,694

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 23,426 29,594
SHAREHOLDERS' FUNDS 23,526 29,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 19 May 2025 and were signed by:




Mr K C Murphy - Director


LRC Electronics Limited (Registered number: 07774084)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

LRC Electronics 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Power tools and equipment - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Office equipment - 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 1 (2023 - 1 ) .

LRC Electronics Limited (Registered number: 07774084)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


4. PROPERTY, PLANT AND EQUIPMENT
Power
tools and Motor Office
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 9,450 18,784 2,592 30,826
Additions - 10,667 - 10,667
Disposals - (10,667 ) - (10,667 )
At 30 September 2024 9,450 18,784 2,592 30,826
DEPRECIATION
At 1 October 2023 8,800 13,860 2,414 25,074
Charge for year 130 985 36 1,151
At 30 September 2024 8,930 14,845 2,450 26,225
NET BOOK VALUE
At 30 September 2024 520 3,939 142 4,601
At 30 September 2023 650 4,924 178 5,752

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 185 200

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 12,869 1,286
Taxation and social security 5,128 9,963
Other creditors 3,925 3,875
21,922 15,124

7. DEFERRED TAX
£   
Balance at 1 October 2023 (200 )
Accelerated capital allowances 15
Balance at 30 September 2024 (185 )

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary 1.00 100 100

LRC Electronics Limited (Registered number: 07774084)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


9. RESERVES
Retained
earnings
£   

At 1 October 2023 29,594
Profit for the year 11,832
Dividends (18,000 )
At 30 September 2024 23,426