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Registered Number: 12817114


 

 

 

LOCO'S CUSTOMS LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 35,783    49,715 
35,783    49,715 
Current assets      
Debtors 4 (1)   699 
Cash at bank and in hand 7,629    20,380 
7,628    21,079 
Creditors: amount falling due within one year 5 (103,602)   (88,045)
Net current assets (95,974)   (66,966)
 
Total assets less current liabilities (60,191)   (17,251)
Net assets (60,191)   (17,251)
 

Capital and reserves
     
Called up share capital 6 1    1 
Profit and loss account (60,192)   (17,252)
Shareholders' funds (60,191)   (17,251)
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 31 May 2025 and were signed by:


-------------------------------
Omar Abdulqadir
Director
1
General Information
Loco's Customs Ltd is a private company, limited by shares, registered in , registration number 12817114, registration address Unit C, Alexander House, Manchester Street, Oldham, OL8 1UF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 5 Straight Line
Fixtures and Fittings 5 Straight Line
Improvements to property 5 Straight Line
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Improvements to property   Total
  £   £   £   £
At 01 September 2023 57,602      7,871    65,473 
Additions   4,186      4,186 
Disposals      
At 31 August 2024 57,602    4,186    7,871    69,659 
Depreciation
At 01 September 2023      
Charge for year 28,171    1,604    4,101    33,876 
On disposals      
At 31 August 2024 28,171    1,604    4,101    33,876 
Net book values
Closing balance as at 31 August 2024 29,431    2,582    3,770    35,783 
Opening balance as at 01 September 2023 40,951    3,419    5,345    49,715 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors (1)   (1)
Corporation Tax   700 
(1)   699 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Amounts Owed to Group Undertakings 33,660    34,000 
CIS Control Account   8,722 
Directors' Current Accounts 69,942    45,323 
103,602    88,045 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Class A share of £1.00 each  
 

2