Registration number: 13039587

Luscombe Maye (1873) Ltd

Contents

Abridged Balance Sheet	1
Notes to the Unaudited Abridged Financial Statements	2 to 4

Luscombe Maye (1873) Ltd

(Registration number: 13039587)
Abridged Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	1,133,898	1,322,881
Tangible assets	5	11,001	10,131
		1,144,899	1,333,012
Current assets
Stocks		25,000	26,500
Debtors		325,397	257,407
Cash at bank and in hand		421,548	423,403
		771,945	707,310
Creditors: Amounts falling due within one year		(1,228,296)	(1,443,414)
Net current liabilities		(456,351)	(736,104)
Total assets less current liabilities		688,548	596,908
Provisions for liabilities		-	43,970
Net assets		688,548	640,878
Capital and reserves
Called up share capital		110	104
Profit and loss account		688,438	640,774
Total equity		688,548	640,878

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.

	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.

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 Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 23 September 2025 and signed on its behalf by:
 

Mr S E T Hext Director

Luscombe Maye (1873) Ltd

Notes to the Unaudited Abridged 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 & Wales..

The address of its registered office is:
59 Fore Street
Totnes
Devon
TQ9 5NJ

These financial statements were authorised for issue by the Board on 23 September 2025.

2	Accounting policies

Statement of compliance

These abridged financial statements were 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 abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

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

The current 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 on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Luscombe Maye (1873) Ltd

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

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
Motor vehicles	33% Reducing balance
Plant, Machinery & Office equipment	33% & 25% Reducing balance
Fixtures & Fittings	33% & 25% Reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 45 (2023 - 41).

Luscombe Maye (1873) Ltd

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

4	Intangible assets

	Total £
Cost or valuation
At 1 January 2024	1,889,830
At 31 December 2024	1,889,830
Amortisation
At 1 January 2024	566,949
Amortisation charge	188,983
At 31 December 2024	755,932
Carrying amount
At 31 December 2024	1,133,898
At 31 December 2023	1,322,881

5	Tangible assets

	Total £
Cost or valuation
At 1 January 2024	135,107
Additions	4,538
At 31 December 2024	139,645
Depreciation
At 1 January 2024	124,976
Charge for the year	3,668
At 31 December 2024	128,644
Carrying amount
At 31 December 2024	11,001
At 31 December 2023	10,131

6	Share capital

The company issued 6 bonus shares of £1 each, fully paid, by capitalising reserves of £6 from retained earnings. This resulted in an increase in issued share capital from £104 to £110, with no cash consideration.

7	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £138,250 (2023 - £217,800).