COMPANY REGISTRATION NUMBER:
01202296
|
Langley Business Systems Limited |
|
|
Filleted Unaudited Abridged Financial Statements |
|
|
Langley Business Systems Limited |
|
|
Abridged Statement of Financial Position |
|
31 December 2024
Fixed assets
|
Tangible assets |
5 |
|
55,226 |
20,812 |
|
|
|
|
|
Current assets
|
Stocks |
523,526 |
|
831,113 |
|
Debtors |
916,326 |
|
729,914 |
|
Cash at bank and in hand |
234,524 |
|
145,627 |
|
------------ |
|
------------ |
|
1,674,376 |
|
1,706,654 |
|
|
|
|
|
Creditors: amounts falling due within one year |
146,254 |
|
169,574 |
|
------------ |
|
------------ |
|
Net current assets |
|
1,528,122 |
1,537,080 |
|
|
------------ |
------------ |
|
Total assets less current liabilities |
|
1,583,348 |
1,557,892 |
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
5,122 |
5,286 |
|
|
------------ |
------------ |
|
Net assets |
|
1,578,226 |
1,552,606 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
2,000 |
2,000 |
|
Profit and loss account |
|
1,576,226 |
1,550,606 |
|
|
------------ |
------------ |
|
Shareholders funds |
|
1,578,226 |
1,552,606 |
|
|
------------ |
------------ |
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.
|
Langley Business Systems Limited |
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Abridged Statement of Financial Position (continued) |
|
31 December 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
25 July 2025
, and are signed on behalf of the board by:
Company registration number:
01202296
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Langley Business Systems Limited |
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Notes to the Abridged Financial Statements |
|
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 Junction Street South, Langley, Oldbury, Warley, West Midlands.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
7 years
|
|
Motor vehicles |
- |
4 years
|
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
The company operates a defined contribution pensions scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
14
(2023:
14
).
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 January 2024 |
217,459 |
|
Additions |
64,955 |
|
Disposals |
(
31,169) |
|
--------- |
|
At 31 December 2024 |
251,245 |
|
--------- |
|
Depreciation |
|
|
At 1 January 2024 |
196,647 |
|
Charge for the year |
22,748 |
|
Disposals |
(
23,376) |
|
--------- |
|
At 31 December 2024 |
196,019 |
|
--------- |
|
Carrying amount |
|
|
At 31 December 2024 |
55,226 |
|
--------- |
|
At 31 December 2023 |
20,812 |
|
--------- |
|
|
6.
Director's advances, credits and guarantees
The director made loans to the company during the year. The loans were interest free. The balance outstanding as at 31st December 2024 was £130,008 (2023 £158,020)
7.
Controlling party
E.J. Shelley controls the company as a result of controlling directly 100% of the issued share capital.