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Registered Number: 10679544
England and Wales

 

 

 


Unaudited Financial Statements


for the year ended 30 April 2025

for

L&B VENTILATION SUPPLIES LIMITED

 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 3 97,750    94,615 
97,750    94,615 
Current assets      
Stocks 4 250,000    325,000 
Debtors 5 1,639,327    1,378,309 
Cash at bank and in hand 59,848    85,988 
1,949,175    1,789,297 
Creditors: amount falling due within one year 6 (1,919,789)   (1,822,133)
Net current assets 29,386    (32,836)
 
Total assets less current liabilities 127,136    61,779 
Creditors: amount falling due after more than one year   (11,429)
Provisions for liabilities 7 (24,437)   (23,653)
Net assets 102,699    26,697 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 102,599    26,597 
Shareholders' funds 102,699    26,697 
 


For the year ended 30 April 2025 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 22 May 2025 and were signed by:


-------------------------------
Stuart Bowes
Director
1
General Information
L&B Ventilation Supplies Limited is a private company, limited by shares, registered in England and Wales, registration number 10679544, registration address 4 Albertine Close, Sweet Briar Road Industrial Estate, Norwich, Norfolk, NR3 2FA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
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
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
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 25 Reducing Balance
Motor Vehicles 20 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 11 (2024 : 9).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 May 2024 80,434    137,864    218,298 
Additions 37,587    19,995    57,582 
Disposals    
At 30 April 2025 118,021    157,859    275,880 
Depreciation
At 01 May 2024 37,880    85,803    123,683 
Charge for year 36,431    18,016    54,447 
On disposals    
At 30 April 2025 74,311    103,819    178,130 
Net book values
Closing balance as at 30 April 2025 43,710    54,040    97,750 
Opening balance as at 01 May 2024 42,554    52,061    94,615 


4.

Stocks

2025
£
  2024
£
Stocks 250,000    325,000 
250,000    325,000 

5.

Debtors: amounts falling due within one year

2025
£
  2024
£
Trade Debtors 1,434,948    1,333,485 
Other Debtors 2,874    4,294 
Directors' Current Accounts 201,505    40,530 
1,639,327    1,378,309 

6.

Creditors: amount falling due within one year

2025
£
  2024
£
Trade Creditors 1,161,140    1,155,159 
Bank Loans & Overdrafts 9,971    9,915 
Corporation Tax 90,816    8,089 
PAYE & Social Security 9,589    14,344 
Other Creditors 67,186    52,437 
Calverton Account 461,831    496,303 
VAT 119,256    85,886 
1,919,789    1,822,133 

7.

Provisions for liabilities

2025
£
  2024
£
Deferred Tax 23,653    17,008 
Charged to Profit & Loss 784    6,645 
24,437    23,653 

8.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2025
£
  2024
£
100 Class A shares of £1.00 each 100    100 
100    100 

2