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Registration number: 02935184

Libramount Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Libramount Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Libramount Limited

Company Information

Directors

J Robinson

P D Jackson

S Robinson

A C Robinson

N Robinson

T Robinson

Registered office

2-4 Court Yard
Eltham
London
SE9 5PZ

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Libramount Limited

Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

39,968

51,103

Current assets

 

Debtors

5

141,072

88,276

Cash at bank and in hand

 

416,726

259,044

 

557,798

347,320

Creditors: Amounts falling due within one year

6

(480,196)

(249,132)

Net current assets

 

77,602

98,188

Total assets less current liabilities

 

117,570

149,291

Creditors: Amounts falling due after more than one year

6

(26,116)

(36,875)

Provisions for liabilities

(9,992)

(12,776)

Net assets

 

81,462

99,640

Capital and reserves

 

Called up share capital

100

100

Capital redemption reserve

10

10

Retained earnings

81,352

99,530

Shareholders' funds

 

81,462

99,640

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

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Libramount Limited

Statement of Financial Position as at 31 December 2024

Approved and authorised by the Board on 22 July 2025 and signed on its behalf by:
 

.........................................

A C Robinson

Director

Company registration number: 02935184

 

Libramount Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
2-4 Court Yard
Eltham
London
SE9 5PZ

The principal activity of the company is that of the provision of consultancy services.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company had net assets at 31 December 2024 amounting to £81,462 including cash at bank of £416,726.

The directors have considered the potential effect of the cost of living crisis in the UK and the effect of global events on the economy and their view is that the impact will be manageable.

The directors remain confident of the company's ability to remain in operational existence for the foreseeable future and, having made sufficient enquiries, believe it is appropriate to prepare the financial statements on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of consultancy services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises turnover from consultancy services over the period in which the services are provided.

 

Libramount Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, Fittings & Equipment

20% reducing balance

Motor Vehicles

15% straight line

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

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

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Libramount Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Finance leases and hire purchase

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.

Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.

The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 7 (2023 - 7).

 

Libramount Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

10,763

71,400

82,163

At 31 December 2024

10,763

71,400

82,163

Depreciation

At 1 January 2024

8,747

22,313

31,060

Charge for the year

425

10,710

11,135

At 31 December 2024

9,172

33,023

42,195

Carrying amount

At 31 December 2024

1,591

38,377

39,968

At 31 December 2023

2,016

49,087

51,103

5

Debtors

2024
£

2023
£

Trade debtors

90,577

55,482

Other debtors

50,495

32,794

141,072

88,276

 

Libramount Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Loans and borrowings

7

10,759

10,759

Trade creditors

 

27,593

23,304

Taxation and social security

 

173,553

106,465

Other creditors

 

268,291

108,604

 

480,196

249,132

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

7

26,116

36,875

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

10,759

10,759

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

26,116

36,875

Obligations under hire purchase contracts are secured on the assets concerned.