LRI Solutions Ltd 07815544 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of a retail business. Digita Accounts Production Advanced 6.30.9574.0 true true 07815544 2023-10-01 2024-09-30 07815544 2024-09-30 07815544 core:CurrentFinancialInstruments 2024-09-30 07815544 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 07815544 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 07815544 core:FurnitureFittings 2024-09-30 07815544 core:LandBuildings core:ShortLeaseholdAssets 2024-09-30 07815544 core:MotorVehicles 2024-09-30 07815544 core:PlantMachinery 2024-09-30 07815544 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-09-30 07815544 bus:SmallEntities 2023-10-01 2024-09-30 07815544 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 07815544 bus:FilletedAccounts 2023-10-01 2024-09-30 07815544 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07815544 bus:RegisteredOffice 2023-10-01 2024-09-30 07815544 bus:Director1 2023-10-01 2024-09-30 07815544 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07815544 bus:Agent1 2023-10-01 2024-09-30 07815544 core:FurnitureFittings 2023-10-01 2024-09-30 07815544 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 07815544 core:LandBuildings core:ShortLeaseholdAssets 2023-10-01 2024-09-30 07815544 core:LeaseholdImprovements 2023-10-01 2024-09-30 07815544 core:MotorVehicles 2023-10-01 2024-09-30 07815544 core:PlantMachinery 2023-10-01 2024-09-30 07815544 core:KeyManagementPersonnel 2023-10-01 2024-09-30 07815544 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-10-01 2024-09-30 07815544 countries:EnglandWales 2023-10-01 2024-09-30 07815544 2023-09-30 07815544 core:FurnitureFittings 2023-09-30 07815544 core:LandBuildings core:ShortLeaseholdAssets 2023-09-30 07815544 core:MotorVehicles 2023-09-30 07815544 core:PlantMachinery 2023-09-30 07815544 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-09-30 07815544 2022-10-01 2023-09-30 07815544 2023-09-30 07815544 core:CurrentFinancialInstruments 2023-09-30 07815544 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 07815544 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 07815544 core:FurnitureFittings 2023-09-30 07815544 core:LandBuildings core:ShortLeaseholdAssets 2023-09-30 07815544 core:MotorVehicles 2023-09-30 07815544 core:PlantMachinery 2023-09-30 07815544 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-09-30 07815544 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 07815544

LRI Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

LRI Solutions Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

LRI Solutions Ltd

Company Information



 

Director

S W Leadbeter


 

Registered office

Unit X
Rye Wharf
Harbour Road
Rye
East Sussex
TN31 7TE

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
LRI Solutions Ltd
for the Year Ended 30 September 2024


 

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LRI Solutions Ltd for the year ended 30 September 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at:
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
 

This report is made solely to the Board of Directors of LRI Solutions Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of LRI Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of LRI Solutions Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LRI Solutions Ltd and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that LRI Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of LRI Solutions Ltd. You consider that LRI Solutions Ltd is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of LRI Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.







Fryza Neicho Limited
Chartered Accountants
Suite 6, Chequers Barn
Chequers Hill
Bough Beech
Kent
TN8 7PD

16 June 2025

 

LRI Solutions Ltd

(Registration number: 07815544)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Tangible assets

4

60,896

75,210

Current assets

 

Stocks

268,761

440,133

Debtors

5

940,476

883,635

Cash at bank and in hand

 

133,412

35,320

 

1,342,649

1,359,088

Creditors: Amounts falling due within one year

6

(287,590)

(316,869)

Net current assets

 

1,055,059

1,042,219

Total assets less current liabilities

 

1,115,955

1,117,429

Creditors: Amounts falling due after more than one year

6

(91,667)

(127,778)

Provisions for liabilities

(37,097)

(38,879)

Net assets

 

987,191

950,772

Capital and reserves

 

Called up share capital

100

100

Retained earnings

987,091

950,672

Shareholders' funds

 

987,191

950,772



 

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the director on 16 June 2025

S W Leadbeter
Director

   
     
 

LRI Solutions Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.
 


 

The address of its registered office is:
Unit X
Rye Wharf
Harbour Road
Rye
East Sussex
TN31 7TE

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 preparation of financial statements requires the use of certain critical accounting estimates. It also requires directors to exercise judgement in applying accounting policies.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

Revenue is from the sale of goods which is recognised when goods are delivered and legal title has passed.

Tax

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.

 

LRI Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

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 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.

Tangible assets

Tangible assets are stated in the balance sheet 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. The short leasehold land and buildings cost represents the present value obligation of restoring the leasehold property to its original position come end of the lease.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold land and buildings

Over the term of the lease

Fixtures and fittings

15% on reducing balance

Plant and machinery

15% on reducing balance

Motor vehicles

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

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

 

LRI Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Loans are initially measured at fair value net of their transaction costs. They are subsequently measured at amortised cost using the effective interest method.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2023 - 13).

 

LRI Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

25,000

55,344

47,579

13,800

141,723

Additions

-

1,875

-

-

1,875

At 30 September 2024

25,000

57,219

47,579

13,800

143,598

Depreciation

At 1 October 2023

16,667

28,782

10,471

10,593

66,513

Charge for the year

5,555

4,266

5,566

802

16,189

At 30 September 2024

22,222

33,048

16,037

11,395

82,702

Carrying amount

At 30 September 2024

2,778

24,171

31,542

2,405

60,896

At 30 September 2023

8,333

26,562

37,108

3,207

75,210

 

LRI Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

5

Debtors

Current

2024
£

2023
£

Trade debtors

8,329

18,617

Other debtors

896,840

797,702

Prepayments

35,307

67,316

 

940,476

883,635

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Loans and borrowings

33,333

101,410

Trade creditors

 

156,479

103,149

Taxation and social security

 

66,999

61,268

Other creditors

 

18,232

40,637

Accruals and deferred income

 

12,547

10,405

 

287,590

316,869

Creditors include a bank loan of £33,333 (2023 - £33,333) secured by a fixed and floating charge over the assets of the company.

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

 

Loans and borrowings

91,667

127,778

Creditors include a bank loan of £91,667 (2023 - £127,778 ) secured by a fixed and floating charge over the assets of the company.


 

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £68,122 (2023 - £55,189).

 

LRI Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

8

Related party transactions

Loans to related parties

2024

Key management
£

Total
£

At start of period

530

530

Repaid

(530)

(530)

At end of period

-

-

2023

Key management
£

Total
£

Advanced

530

530

At end of period

530

530

Terms of loans to related parties

The loan is interest free and repayable on demand.