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Registered number: 07550648
Libertas Management (2011) Ltd
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 07550648
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 139 188
139 188
CURRENT ASSETS
Debtors 5 25,475 22,626
Cash at bank and in hand 37,520 27,745
62,995 50,371
Creditors: Amounts Falling Due Within One Year 6 (43,025 ) (27,556 )
NET CURRENT ASSETS (LIABILITIES) 19,970 22,815
TOTAL ASSETS LESS CURRENT LIABILITIES 20,109 23,003
PROVISIONS FOR LIABILITIES
Deferred Taxation (26 ) (36 )
NET ASSETS 20,083 22,967
CAPITAL AND RESERVES
Called up share capital 7 90 90
Profit and Loss Account 19,993 22,877
SHAREHOLDERS' FUNDS 20,083 22,967
For the year ending 31 March 2025 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms L S Williams
Director
2 June 2025
The notes on pages 2 to 3 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Libertas Management (2011) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07550648 . The registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Computer Equipment 33% Straight Line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 2,694 9,658 12,352
As at 31 March 2025 2,694 9,658 12,352
Depreciation
As at 1 April 2024 2,509 9,655 12,164
Provided during the period 46 3 49
As at 31 March 2025 2,555 9,658 12,213
Net Book Value
As at 31 March 2025 139 - 139
As at 1 April 2024 185 3 188
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 25,475 22,626
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 219 516
Corporation tax 27,403 18,626
Other taxes and social security 205 1,454
VAT 9,464 4,114
Other creditors 3,283 1,099
Accruals and deferred income 1,215 1,215
Directors' loan accounts 1,236 532
43,025 27,556
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 90 90
8. Related Party Transactions
At the balance sheet date, the company owed the directors £1,236 (2024:£532). The amount is unsecured, interest free, with no fixed repayment date.
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