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Registered number: 03278161
Lansdowne Trading Services Limited
Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03278161
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 630,690 790,218
630,690 790,218
CURRENT ASSETS
Stocks 5 18,308 13,646
Debtors 6 460,571 587,165
Cash at bank and in hand 9,452 48,867
488,331 649,678
Creditors: Amounts Falling Due Within One Year 7 (425,302 ) (509,316 )
NET CURRENT ASSETS (LIABILITIES) 63,029 140,362
TOTAL ASSETS LESS CURRENT LIABILITIES 693,719 930,580
Creditors: Amounts Falling Due After More Than One Year 8 (255,040 ) (397,812 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (153,000 ) (166,211 )
NET ASSETS 285,679 366,557
CAPITAL AND RESERVES
Called up share capital 12 2 2
Profit and Loss Account 285,677 366,555
SHAREHOLDERS' FUNDS 285,679 366,557
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr C Stanley
Director
19 August 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lansdowne Trading Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03278161 . The registered office is C/O Seftons, 135 - 143 Union Street, Oldham, Lancashire, OL1 1TE.
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% on net book value
Motor Vehicles 25% on net book value
Fixtures & Fittings 25% on net book value
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the 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 a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
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. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 12)
13 12
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 December 2023 643,628 949,666 12,282 1,605,576
Additions 7,000 32,000 - 39,000
As at 30 November 2024 650,628 981,666 12,282 1,644,576
Depreciation
As at 1 December 2023 343,053 463,685 8,620 815,358
Provided during the period 76,118 121,496 914 198,528
As at 30 November 2024 419,171 585,181 9,534 1,013,886
...CONTINUED
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Net Book Value
As at 30 November 2024 231,457 396,485 2,748 630,690
As at 1 December 2023 300,575 485,981 3,662 790,218
5. Stocks
2024 2023
£ £
Stock 18,308 13,646
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 460,571 581,724
Other debtors - 5,441
460,571 587,165
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 134,822 187,612
Trade creditors 69,510 130,467
Bank loans and overdrafts 83,966 65,894
Other creditors 34,252 65,608
Taxation and social security 102,752 59,735
425,302 509,316
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 244,510 377,733
Bank loans 10,530 20,079
255,040 397,812
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 74,966 57,394
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 134,822 187,612
Later than one year and not later than five years 244,510 377,733
379,332 565,345
379,332 565,345
11. Deferred Taxation
The provision for deferred tax is made up as follows:
Accelerated capital allowances
2024 2023
£ £
Other timing differences 153,000 166,211
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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