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REGISTERED NUMBER: 01497130 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Launch Tech UK Limited

Launch Tech UK Limited (Registered number: 01497130)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Launch Tech UK Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: D J Richards



REGISTERED OFFICE: 22 The Square
The Millfields
Plymouth
Devon
PL1 3JX



BUSINESS ADDRESS: Huxley Close
Newnham Industrial Estate
Plympton
Plymouth
Devon
PL7 4JN



REGISTERED NUMBER: 01497130 (England and Wales)



ACCOUNTANTS: Sheppards Accountants Limited
22 The Square
The Millfields
Plymouth
Devon
PL1 3JX



BANKERS: Barclays Bank PLC
50 Cornwall Street
Plymouth
Devon
PL1 1LU

Accountants' Report to the Director
on the Unaudited Financial Statements of
Launch Tech UK Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Launch Tech UK Limited for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Launch Tech UK Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Launch Tech UK Limited and state those matters that we have agreed to state to the director of Launch Tech UK Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Launch Tech UK Limited and its director for our work or for this report.

It is your duty to ensure that Launch Tech UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Launch Tech UK Limited. You consider that Launch Tech UK Limited 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 financial statements of Launch Tech UK Limited. 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 financial statements.






Sheppards Accountants Limited
22 The Square
The Millfields
Plymouth
Devon
PL1 3JX


Date: .............................................

Launch Tech UK Limited (Registered number: 01497130)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 180,677 182,066
Investments 6 1,518 87,799
182,195 269,865

CURRENT ASSETS
Stocks 661,711 665,372
Debtors 7 821,480 1,173,028
Cash at bank and in hand 2,609,301 1,697,747
4,092,492 3,536,147
CREDITORS
Amounts falling due within one year 8 601,080 780,437
NET CURRENT ASSETS 3,491,412 2,755,710
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,673,607

3,025,575

PROVISIONS FOR LIABILITIES 8,572 8,902
NET ASSETS 3,665,035 3,016,673

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,664,935 3,016,573
SHAREHOLDERS' FUNDS 3,665,035 3,016,673

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Launch Tech UK Limited (Registered number: 01497130)

Balance Sheet - continued
31 October 2024


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 3 July 2025 and were signed by:





D J Richards - Director


Launch Tech UK Limited (Registered number: 01497130)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Launch Tech UK 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
Turnover represents the total invoice value, excluding Value Added Tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities. Turnover is recognised at the point of issue of sales invoices.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: 25% on a reducing balance method

Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after making provision for obsolete and negligible 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into Sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Launch Tech UK Limited (Registered number: 01497130)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 98,315
AMORTISATION
At 1 November 2023
and 31 October 2024 98,315
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 115,082 226,616 7,331 1,700 350,729
Additions - 15,411 - - 15,411
At 31 October 2024 115,082 242,027 7,331 1,700 366,140
DEPRECIATION
At 1 November 2023 - 162,628 4,335 1,700 168,663
Charge for year - 16,051 749 - 16,800
At 31 October 2024 - 178,679 5,084 1,700 185,463
NET BOOK VALUE
At 31 October 2024 115,082 63,348 2,247 - 180,677
At 31 October 2023 115,082 63,988 2,996 - 182,066

Launch Tech UK Limited (Registered number: 01497130)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Loans to undertakings in which the company
has a participating interest

1,518

17,799
Other investments not loans - 70,000
1,518 87,799

Additional information is as follows:
Other
investments
£   
COST
At 1 November 2023 70,000
Disposals (70,000 )
At 31 October 2024 -
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 70,000
Loans to
Loans to joint
associates ventures Totals
£    £    £   
At 1 November 2023 1,518 16,281 17,799
Other movement - (16,281 ) (16,281 )
At 31 October 2024 1,518 - 1,518

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 610,517 849,155
Other debtors 101,230 208,074
Employee Loans 600 -
Directors' current accounts 88,389 98,809
Prepayments and accrued income 20,744 16,990
821,480 1,173,028

Launch Tech UK Limited (Registered number: 01497130)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 104,931 359,310
Corporation tax 292,853 172,789
Social security and other taxes - 17,153
Pension Creditor 1,020 -
VAT 195,661 213,477
Other creditors - 689
Accruals and deferred income 6,615 17,019
601,080 780,437

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
D J Richards
Balance outstanding at start of year 95,839 121,388
Amounts repaid (1,200 ) (25,549 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 94,639 95,839

10. RELATED PARTY DISCLOSURES

During the year the company was invoiced £35,205 by DJ Property South West Limited, a company of which Mr DJ Richards(Director) is a director, for rent and rates of the premises.

11. ULTIMATE CONTROLLING PARTY

The controlling party is D J Richards.

The ultimate controlling party is D J Richards.

The company is under the control of the shareholder.