Registered number
01812852
L.C.T Upholsterers Limited
Filleted Accounts
for the year ended
31 December 2024
L.C.T Upholsterers Limited
Registered number: 01812852
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 60,666 31,992
Current assets
Stocks 7,940 6,060
Debtors 4 13,572 10,084
Cash at bank and in hand 287,378 271,758
308,890 287,902
Creditors: amounts falling due within one year 5 (99,058) (110,899)
Net current assets 209,832 177,003
Net assets 270,498 208,995
Capital and reserves
Called up share capital 1,200 1,200
Profit and loss account 269,298 207,795
Shareholders' funds 270,498 208,995
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
V W Green
Director
Approved by the board on 24 September 2025
L.C.T Upholsterers Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
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 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 3
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 26,790 16,624 15,384 58,798
Additions - 1,500 28,899 30,399
At 31 December 2024 26,790 18,124 44,283 89,197
Depreciation
At 1 January 2024 - 13,476 13,330 26,806
Charge for the year - 610 1,115 1,725
At 31 December 2024 - 14,086 14,445 28,531
Net book value
At 31 December 2024 26,790 4,038 29,838 60,666
At 31 December 2023 26,790 3,148 2,054 31,992
4 Debtors 2024 2023
£ £
Trade debtors 12,249 9,072
Other debtors 1,323 1,012
13,572 10,084
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 108
Trade creditors 4,764 6,850
Taxation and social security costs 59,191 29,296
Other creditors 35,103 74,645
99,058 110,899
6 Other information
L.C.T Upholsterers Limited is a private company limited by shares and incorporated in England. Its registered office is:
28/29 Church Gate
Loughborough
Leics
LE11 1UD
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